Inter Parfums Inc. (IPAR) Issues FY17 Earnings Guidance
Inter Parfums Inc. (NASDAQ:IPAR) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $1.20-1.24 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.28. The company issued revenue guidance of $550-560 million, compared to the consensus revenue estimate of $552.41 million.
A number of research analysts have recently issued reports on the stock. B. Riley reiterated a buy rating and set a $40.00 price target on shares of Inter Parfums in a research note on Wednesday, August 17th. TheStreet upgraded shares of Inter Parfums from a hold rating to a buy rating in a research report on Wednesday, August 10th. Piper Jaffray Cos. restated a neutral rating and set a $33.00 target price (up from $29.00) on shares of Inter Parfums in a research report on Saturday, August 13th. Citigroup Inc. upped their target price on shares of Inter Parfums from $35.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research upgraded shares of Inter Parfums from a hold rating to a buy rating and set a $37.00 target price on the stock in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of $36.71.
Shares of Inter Parfums Inc. (NASDAQ:IPAR) opened at 31.25 on Wednesday. The stock has a 50 day moving average of $32.09 and a 200 day moving average of $31.26. The firm has a market capitalization of $972.03 million, a price-to-earnings ratio of 31.25 and a beta of 1.63. Inter Parfums Inc. has a 52-week low of $20.37 and a 52-week high of $35.07.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. Inter Parfums had a net margin of 6.20% and a return on equity of 6.62%. The company had revenue of $157.60 million for the quarter, compared to the consensus estimate of $155.23 million. During the same period last year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, analysts predict that Inter Parfums Inc. will post $1.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 2.18%. Inter Parfums’s dividend payout ratio (DPR) is currently 59.41%.
In related news, insider Henry B. Clarke sold 5,582 shares of Inter Parfums stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $34.50, for a total value of $192,579.00. Following the sale, the insider now directly owns 2,707 shares in the company, valued at approximately $93,391.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Russell Greenberg sold 2,677 shares of Inter Parfums stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $34.80, for a total transaction of $93,159.60. Following the completion of the sale, the chief financial officer now owns 677 shares in the company, valued at $23,559.60. The disclosure for this sale can be found here. 45.50% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of IPAR. American International Group Inc. increased its stake in shares of Inter Parfums by 0.9% in the second quarter. American International Group Inc. now owns 12,937 shares of the company’s stock valued at $370,000 after buying an additional 121 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Inter Parfums by 2.3% in the second quarter. Arizona State Retirement System now owns 8,909 shares of the company’s stock valued at $255,000 after buying an additional 200 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of Inter Parfums by 4.1% in the second quarter. BlackRock Advisors LLC now owns 8,031 shares of the company’s stock valued at $229,000 after buying an additional 316 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Inter Parfums by 2.8% in the second quarter. Nationwide Fund Advisors now owns 13,251 shares of the company’s stock valued at $379,000 after buying an additional 366 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Inter Parfums by 1.1% in the third quarter. California State Teachers Retirement System now owns 37,037 shares of the company’s stock valued at $1,195,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 53.43% of the company’s stock.
Inter Parfums Company Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes fragrances and fragrance-related products. It operates in two segments: European based operations and United States based operations. Under its European Operations, the Company produces and distributes fragrance products primarily under license agreements with brand owners and its prestige brands include Balmain, Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, S.T.
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