Zacks Research Analysts Lower Earnings Estimates for International Flavors & Fragrances Inc. (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFF) – Equities researchers at Zacks Research reduced their Q1 2024 earnings estimates for shares of International Flavors & Fragrances in a research report issued on Thursday, March 28th. Zacks Research analyst M. Das now forecasts that the specialty chemicals company will post earnings of $0.84 per share for the quarter, down from their previous estimate of $0.90. The consensus estimate for International Flavors & Fragrances’ current full-year earnings is $3.71 per share. Zacks Research also issued estimates for International Flavors & Fragrances’ Q2 2024 earnings at $0.91 EPS, Q3 2024 earnings at $0.92 EPS, FY2024 earnings at $3.52 EPS, Q1 2025 earnings at $1.01 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.93 EPS and FY2026 earnings at $4.35 EPS.

Other equities research analysts have also issued research reports about the stock. Barclays lifted their price objective on shares of International Flavors & Fragrances from $64.00 to $69.00 and gave the company an “underweight” rating in a research note on Friday, January 12th. Morgan Stanley boosted their target price on shares of International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group boosted their target price on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Stifel Nicolaus cut their target price on shares of International Flavors & Fragrances from $87.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, February 21st. Finally, Citigroup cut their price objective on shares of International Flavors & Fragrances from $85.00 to $81.00 and set a “neutral” rating for the company in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $84.29.

International Flavors & Fragrances Stock Up 0.4 %

IFF stock opened at $85.97 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63. International Flavors & Fragrances has a 1 year low of $62.11 and a 1 year high of $97.49. The company has a fifty day simple moving average of $80.42 and a 200 day simple moving average of $75.52. The firm has a market cap of $21.95 billion, a PE ratio of -8.56, a PEG ratio of 1.90 and a beta of 1.22.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.03). International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period in the previous year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis.

Hedge Funds Weigh In On International Flavors & Fragrances

Several large investors have recently bought and sold shares of the business. SVB Wealth LLC raised its holdings in International Flavors & Fragrances by 4.0% in the first quarter. SVB Wealth LLC now owns 2,077 shares of the specialty chemicals company’s stock worth $273,000 after purchasing an additional 79 shares during the period. Covestor Ltd raised its holdings in International Flavors & Fragrances by 48.8% in the first quarter. Covestor Ltd now owns 244 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 80 shares during the period. Raymond James Trust N.A. raised its holdings in International Flavors & Fragrances by 2.4% in the first quarter. Raymond James Trust N.A. now owns 3,792 shares of the specialty chemicals company’s stock worth $498,000 after purchasing an additional 90 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of International Flavors & Fragrances by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 24,638 shares of the specialty chemicals company’s stock worth $2,583,000 after acquiring an additional 120 shares in the last quarter. Finally, BSW Wealth Partners increased its position in shares of International Flavors & Fragrances by 3.3% during the first quarter. BSW Wealth Partners now owns 4,226 shares of the specialty chemicals company’s stock worth $389,000 after acquiring an additional 135 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

International Flavors & Fragrances Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $1.60 annualized dividend and a yield of 1.86%. International Flavors & Fragrances’s dividend payout ratio is currently -15.94%.

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.