International Flavors & Fragrances (NYSE:IFF) Shares Gap Up on Earnings Beat

International Flavors & Fragrances Inc. (NYSE:IFF) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $88.66, but opened at $92.60. International Flavors & Fragrances shares last traded at $93.87, with a volume of 468,954 shares changing hands.

The specialty chemicals company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was down 4.2% compared to the same quarter last year.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.69%. International Flavors & Fragrances’s payout ratio is currently -15.94%.

Wall Street Analyst Weigh In

IFF has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research report on Monday, March 25th. Morgan Stanley increased their target price on shares of International Flavors & Fragrances from $89.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Argus cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Citigroup raised International Flavors & Fragrances from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $81.00 to $100.00 in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $87.65.

Hedge Funds Weigh In On International Flavors & Fragrances

Large investors have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC grew its holdings in International Flavors & Fragrances by 3,000.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 300 shares during the period. Riverview Trust Co acquired a new position in shares of International Flavors & Fragrances during the 1st quarter worth $27,000. Quent Capital LLC increased its holdings in shares of International Flavors & Fragrances by 183.2% in the 1st quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 240 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of International Flavors & Fragrances in the fourth quarter valued at about $41,000. Finally, Fidelis Capital Partners LLC purchased a new stake in International Flavors & Fragrances during the first quarter worth about $44,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Up 6.5 %

The firm’s 50-day simple moving average is $83.24 and its two-hundred day simple moving average is $79.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 1.02. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of -9.40, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21.

International Flavors & Fragrances Company Profile

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.