Inter Parfums, Inc. (NASDAQ:IPAR) – DA Davidson lowered their Q3 2018 EPS estimates for shares of Inter Parfums in a research note issued on Thursday, August 9th. DA Davidson analyst L. Weiser now forecasts that the company will post earnings of $0.62 per share for the quarter, down from their prior estimate of $0.65. DA Davidson has a “Buy” rating and a $72.00 price objective on the stock. DA Davidson also issued estimates for Inter Parfums’ Q4 2018 earnings at $0.11 EPS.
A number of other research firms have also recently issued reports on IPAR. Jefferies Financial Group set a $60.00 price target on Inter Parfums and gave the company a “hold” rating in a report on Wednesday, August 8th. BidaskClub raised Inter Parfums from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Citigroup lifted their price target on Inter Parfums from $50.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. BWS Financial lifted their price target on Inter Parfums to $75.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Finally, Zacks Investment Research cut Inter Parfums from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.50.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.09. Inter Parfums had a return on equity of 8.37% and a net margin of 7.54%. The business had revenue of $149.37 million during the quarter, compared to analysts’ expectations of $149.42 million.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a $0.21 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.34%. Inter Parfums’s payout ratio is 63.16%.
In related news, insider Pelayo Frederic Garcia sold 5,000 shares of Inter Parfums stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $51.24, for a total value of $256,200.00. Following the completion of the sale, the insider now directly owns 600 shares in the company, valued at $30,744. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Philippe Santi sold 3,600 shares of Inter Parfums stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $10,523.10, for a total value of $37,883,160.00. The disclosure for this sale can be found here. 45.00% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in Inter Parfums in the first quarter worth about $119,000. Itau Unibanco Holding S.A. acquired a new position in shares of Inter Parfums during the 2nd quarter worth about $150,000. Piedmont Investment Advisors LLC acquired a new position in shares of Inter Parfums during the 2nd quarter worth about $215,000. BB&T Securities LLC acquired a new position in shares of Inter Parfums during the 1st quarter worth about $202,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of Inter Parfums during the 2nd quarter worth about $241,000. Hedge funds and other institutional investors own 56.18% of the company’s stock.
Inter Parfums Company Profile
Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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