International Flavors & Fragrances (NYSE:IFF) Releases Quarterly Earnings Results, Beats Expectations By $0.27 EPS

International Flavors & Fragrances (NYSE:IFF) released its quarterly earnings results on Monday. The specialty chemicals company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.27, Briefing.com reports. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.78 billion. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. International Flavors & Fragrances’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Trading Up 6.5 %

Shares of NYSE IFF opened at $94.41 on Wednesday. International Flavors & Fragrances has a 1-year low of $62.11 and a 1-year high of $97.49. The company has a 50-day moving average of $83.24 and a two-hundred day moving average of $79.30. The company has a market cap of $24.10 billion, a PE ratio of -9.40, a P/E/G ratio of 1.94 and a beta of 1.21. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s payout ratio is presently -15.94%.

Analyst Upgrades and Downgrades

IFF has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of International Flavors & Fragrances from $87.00 to $95.00 and gave the company a “hold” rating in a research report on Tuesday. Citigroup raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and upped their price target for the company from $81.00 to $100.00 in a research report on Wednesday, April 10th. Morgan Stanley increased their price objective on International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Robert W. Baird lifted their target price on International Flavors & Fragrances from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Finally, Argus lowered shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $89.59.

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.