International Flavors & Fragrances (NYSE:IFF) Posts Quarterly Earnings Results, Misses Expectations By $0.46 EPS

International Flavors & Fragrances (NYSE:IFF) announced its earnings results on Tuesday. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46), RTT News reports. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the company posted $0.89 EPS. International Flavors & Fragrances’s quarterly revenue was up 3.7% on a year-over-year basis. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Trading Up 1.4 %

Shares of IFF opened at $92.25 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.38 and a quick ratio of 1.75. The firm has a 50 day simple moving average of $102.40 and a 200-day simple moving average of $98.04. International Flavors & Fragrances has a 1-year low of $69.73 and a 1-year high of $106.77. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of -9.87, a price-to-earnings-growth ratio of 1.77 and a beta of 1.22.

International Flavors & Fragrances Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.73%. International Flavors & Fragrances’s dividend payout ratio (DPR) is -17.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on IFF shares. Barclays increased their target price on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Oppenheimer increased their target price on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. UBS Group increased their target price on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of International Flavors & Fragrances from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and a consensus price target of $108.80.

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.