Inter Parfums (NASDAQ:IPAR) Releases Earnings Results, Misses Estimates By $0.29 EPS

Inter Parfums (NASDAQ:IPAR) released its quarterly earnings data on Tuesday. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.29), Briefing.com reports. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $323.96 million for the quarter, compared to analyst estimates of $324.00 million. During the same period last year, the business earned $1.68 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. Inter Parfums updated its FY24 guidance to $5.15 EPS.

Inter Parfums Stock Down 4.8 %

Shares of Inter Parfums stock traded down $5.92 during trading on Wednesday, reaching $117.35. 36,312 shares of the company traded hands, compared to its average volume of 140,765. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The firm has a market capitalization of $3.76 billion, a PE ratio of 25.95 and a beta of 1.19. The company has a 50 day moving average price of $131.91 and a 200-day moving average price of $135.06. Inter Parfums has a 1-year low of $114.88 and a 1-year high of $156.75.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.56%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IPAR shares. Piper Sandler cut their target price on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. DA Davidson reaffirmed a “buy” rating and issued a $192.00 price objective on shares of Inter Parfums in a research note on Friday, April 26th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th.

Insider Buying and Selling at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $150,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 43.90% of the company’s stock.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.