Inter Parfums, Inc. (NASDAQ:IPAR) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Inter Parfums, Inc. (NASDAQ:IPAR) issued its quarterly earnings data on Monday, August 7th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02, Briefing.com reports. Inter Parfums had a net margin of 7.14% and a return on equity of 8.12%. The company had revenue of $129.10 million during the quarter, compared to the consensus estimate of $122.57 million. During the same quarter last year, the company earned $0.19 earnings per share. Inter Parfums’s revenue for the quarter was up 10.2% on a year-over-year basis. Inter Parfums updated its FY17 guidance to $1.25-1.27 EPS.
Inter Parfums (NASDAQ:IPAR) traded down 0.13% during mid-day trading on Friday, hitting $37.75. 251,888 shares of the stock were exchanged. Inter Parfums has a one year low of $29.40 and a one year high of $41.70. The company has a market cap of $1.18 billion, a P/E ratio of 29.26 and a beta of 1.77. The company has a 50-day moving average price of $37.63 and a 200-day moving average price of $36.23.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Thursday, September 28th. Inter Parfums’s payout ratio is currently 52.31%.
In other Inter Parfums news, CFO Russell Greenberg sold 2,500 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $39.10, for a total value of $97,750.00. Following the transaction, the chief financial officer now owns 5,500 shares of the company’s stock, valued at $215,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 45.40% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Inter Parfums by 8.4% in the fourth quarter. State Street Corp now owns 372,497 shares of the company’s stock valued at $12,198,000 after buying an additional 28,922 shares during the period. AQR Capital Management LLC increased its position in Inter Parfums by 0.5% in the fourth quarter. AQR Capital Management LLC now owns 8,265 shares of the company’s stock worth $271,000 after buying an additional 42 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Inter Parfums by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,300 shares of the company’s stock worth $305,000 after buying an additional 540 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Inter Parfums by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 28,027 shares of the company’s stock valued at $918,000 after buying an additional 734 shares during the period. Finally, Macquarie Group Ltd. boosted its position in shares of Inter Parfums by 42.8% in the fourth quarter. Macquarie Group Ltd. now owns 64,400 shares of the company’s stock valued at $2,109,000 after buying an additional 19,300 shares during the period. Institutional investors and hedge funds own 54.10% of the company’s stock.
Several brokerages have issued reports on IPAR. Citigroup Inc. reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. DA Davidson reissued a “buy” rating and set a $45.00 price target (up previously from $44.00) on shares of Inter Parfums in a research report on Thursday, August 10th. BidaskClub raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “strong-buy” rating and set a $43.00 price target for the company in a research report on Thursday, July 20th. Finally, Jefferies Group LLC initiated coverage on shares of Inter Parfums in a research report on Friday, June 2nd. They set a “hold” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Inter Parfums currently has a consensus rating of “Buy” and an average price target of $42.00.
Inter Parfums Company Profile
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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