Inter Parfums (NASDAQ:IPAR) Updates FY 2024 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 5.150-5.150 for the period, compared to the consensus estimate of 5.150. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion.

Inter Parfums Stock Down 0.9 %

IPAR opened at $140.03 on Thursday. The firm’s 50 day simple moving average is $135.10 and its two-hundred day simple moving average is $128.80. The company has a market capitalization of $4.49 billion, a PE ratio of 30.05 and a beta of 1.20. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The firm had revenue of $425.00 million during the quarter, compared to analyst estimates of $425.00 million. During the same period in the prior year, the business posted $1.66 EPS. Inter Parfums’s revenue was up 15.5% on a year-over-year basis. As a group, equities analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Analyst Upgrades and Downgrades

IPAR has been the subject of several analyst reports. BWS Financial reissued a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday. Piper Sandler raised their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group started coverage on shares of Inter Parfums in a report on Thursday, January 16th. They issued a “buy” rating and a $158.00 target price for the company. Finally, DA Davidson reissued a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.40.

Insider Transactions at Inter Parfums

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total transaction of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 43.90% 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 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.