Inter Parfums (NASDAQ:IPAR) Issues FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $5.15 for the period, compared to the consensus EPS estimate of $5.17. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.46 billion.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. DA Davidson restated a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a research note on Tuesday, October 22nd. Piper Sandler restated an “overweight” rating and issued a $151.00 target price (up from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research note on Friday, July 12th. StockNews.com upgraded Inter Parfums from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Inter Parfums Price Performance

Shares of IPAR traded up $2.35 during midday trading on Friday, reaching $128.23. The stock had a trading volume of 206,459 shares, compared to its average volume of 130,017. The company’s 50-day moving average is $122.32 and its 200 day moving average is $122.43. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 27.52 and a beta of 1.16.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. The company had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. Inter Parfums had a return on equity of 16.72% and a net margin of 10.60%. Inter Parfums’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.66 EPS. On average, equities analysts predict that Inter Parfums will post 5.17 EPS for the current fiscal year.

Inter Parfums Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, December 16th. Inter Parfums’s dividend payout ratio (DPR) is currently 64.38%.

Insiders Place Their Bets

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $125.96, for a total value of $188,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 43.90% of the company’s stock.

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.