Inter Parfums (NASDAQ:IPAR) Issues Earnings Results

Inter Parfums (NASDAQ:IPAR) announced its quarterly earnings results on Tuesday. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.29), Briefing.com reports. The business had revenue of $323.96 million during the quarter, compared to analyst estimates of $324.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.68 earnings per share. Inter Parfums updated its FY24 guidance to $5.15 EPS.

Inter Parfums Stock Down 6.1 %

IPAR traded down $7.55 during midday trading on Wednesday, hitting $115.72. The company had a trading volume of 67,994 shares, compared to its average volume of 141,170. The stock’s 50 day moving average price is $131.91 and its 200 day moving average price is $135.06. Inter Parfums has a 52 week low of $114.81 and a 52 week high of $156.75. The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 24.38 and a beta of 1.19.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.75 per share. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 2.59%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IPAR. DA Davidson reaffirmed a “buy” rating and set a $192.00 target price on shares of Inter Parfums in a research report on Friday, April 26th. Piper Sandler cut their price objective on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Wednesday, April 17th.

Insider Buying and Selling

In related news, Director Gilbert Harrison sold 250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $150,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 43.90% of the stock is owned by company insiders.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.