Inter Parfums, Inc. to Post Q4 2017 Earnings of $0.11 Per Share, DA Davidson Forecasts (IPAR)
Inter Parfums, Inc. (NASDAQ:IPAR) – Investment analysts at DA Davidson dropped their Q4 2017 earnings estimates for Inter Parfums in a research note issued to investors on Friday. DA Davidson analyst L. Weiser now expects that the company will post earnings of $0.11 per share for the quarter, down from their prior forecast of $0.13. DA Davidson has a “Neutral” rating and a $49.00 price objective on the stock. DA Davidson also issued estimates for Inter Parfums’ Q1 2018 earnings at $0.48 EPS and Q3 2018 earnings at $0.59 EPS.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The firm had revenue of $169.50 million for the quarter, compared to analyst estimates of $160.52 million. During the same quarter last year, the business earned $0.52 earnings per share. Inter Parfums’s revenue was up 7.6% compared to the same quarter last year.
A number of other brokerages have also issued reports on IPAR. Sidoti lowered shares of Inter Parfums from a “buy” rating to a “neutral” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Thursday, October 26th. KeyCorp set a $44.00 target price on shares of Inter Parfums and gave the stock a “buy” rating in a research report on Monday, October 16th. Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price target (up previously from $42.00) on shares of Inter Parfums in a report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $44.50.
Shares of Inter Parfums (NASDAQ:IPAR) opened at $43.25 on Monday. Inter Parfums has a 1 year low of $30.45 and a 1 year high of $46.80. The stock has a market cap of $1,348.83, a P/E ratio of 31.80, a P/E/G ratio of 2.73 and a beta of 1.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.54 and a current ratio of 3.39.
A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Inter Parfums by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,689,917 shares of the company’s stock worth $61,935,000 after buying an additional 41,384 shares during the period. Dimensional Fund Advisors LP increased its stake in Inter Parfums by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,391,727 shares of the company’s stock worth $51,007,000 after buying an additional 16,317 shares during the period. Atlanta Capital Management Co. L L C increased its position in shares of Inter Parfums by 14.0% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock worth $42,825,000 after purchasing an additional 143,072 shares during the last quarter. Northern Trust Corp increased its position in shares of Inter Parfums by 0.5% in the 2nd quarter. Northern Trust Corp now owns 748,819 shares of the company’s stock worth $27,446,000 after purchasing an additional 3,655 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Inter Parfums by 20.4% in the 2nd quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock worth $21,999,000 after purchasing an additional 101,565 shares during the last quarter. 55.43% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Patrick Choel sold 750 shares of Inter Parfums stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $41.59, for a total transaction of $31,192.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Torres Robert Bensoussan sold 6,000 shares of Inter Parfums stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $42.09, for a total transaction of $252,540.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,250 shares of company stock worth $382,733 in the last 90 days. Company insiders own 45.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a dividend of $0.21 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. Inter Parfums’s payout ratio is presently 51.13%.
About Inter Parfums
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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