International Flavors & Fragrances Inc. (IFF) to Issue Quarterly Dividend of $0.40 on October 9th

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Friday, September 20th will be given a dividend of 0.40 per share by the specialty chemicals company on Wednesday, October 9th. This represents a $1.60 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Friday, September 20th.

International Flavors & Fragrances has raised its dividend payment by an average of 2.2% per year over the last three years. International Flavors & Fragrances has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Flavors & Fragrances to earn $4.55 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 35.2%.

International Flavors & Fragrances Stock Up 0.6 %

Shares of NYSE:IFF opened at $104.22 on Wednesday. International Flavors & Fragrances has a 52-week low of $62.28 and a 52-week high of $105.30. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average of $99.32 and a two-hundred day moving average of $93.08. The stock has a market cap of $26.61 billion, a P/E ratio of -10.67, a PEG ratio of 1.85 and a beta of 1.22.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, August 6th. The specialty chemicals company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.83 billion. During the same period last year, the business earned $0.86 earnings per share. International Flavors & Fragrances’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts expect that International Flavors & Fragrances will post 4.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IFF shares. Wells Fargo & Company upped their price objective on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Oppenheimer upped their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Mizuho raised International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Morgan Stanley boosted their target price on International Flavors & Fragrances from $100.00 to $103.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. upped their price target on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $103.87.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.