Inter Parfums, Inc. (NASDAQ:IPAR) – Stock analysts at KeyCorp increased their FY2017 earnings estimates for Inter Parfums in a research note issued on Thursday. KeyCorp analyst J. Gere now forecasts that the company will earn $1.31 per share for the year, up from their previous estimate of $1.30. KeyCorp currently has a “Buy” rating and a $44.00 price target on the stock. KeyCorp also issued estimates for Inter Parfums’ Q4 2017 earnings at $0.12 EPS, Q3 2018 earnings at $0.60 EPS and Q4 2018 earnings at $0.15 EPS.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The business had revenue of $169.50 million for the quarter, compared to analyst estimates of $160.52 million. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.52 EPS.
A number of other brokerages have also issued reports on IPAR. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Friday, September 1st. DA Davidson restated a “buy” rating and issued a $45.00 target price (up previously from $44.00) on shares of Inter Parfums in a research note on Thursday, August 10th. BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Citigroup Inc. restated a “buy” rating and issued a $45.00 target price (up previously from $42.00) on shares of Inter Parfums in a research note on Thursday, August 10th. Finally, Sidoti lowered shares of Inter Parfums from a “buy” rating to a “neutral” rating in a research note on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Inter Parfums has an average rating of “Buy” and a consensus price target of $44.50.
Shares of Inter Parfums (NASDAQ IPAR) opened at $41.90 on Monday. The stock has a market cap of $1,347.27, a PE ratio of 31.76, a PEG ratio of 2.73 and a beta of 1.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.39 and a quick ratio of 2.54. Inter Parfums has a 12 month low of $30.45 and a 12 month high of $46.80.
Several large investors have recently made changes to their positions in IPAR. SG Americas Securities LLC bought a new stake in shares of Inter Parfums during the 1st quarter valued at about $107,000. Acrospire Investment Management LLC grew its position in Inter Parfums by 68.9% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock worth $116,000 after purchasing an additional 1,296 shares during the last quarter. State of Alaska Department of Revenue grew its position in Inter Parfums by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock worth $123,000 after purchasing an additional 1,490 shares during the last quarter. Huntington National Bank grew its position in Inter Parfums by 17.6% in the 2nd quarter. Huntington National Bank now owns 3,569 shares of the company’s stock worth $131,000 after purchasing an additional 535 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Inter Parfums by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,097 shares of the company’s stock worth $150,000 after purchasing an additional 614 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.
In related news, Director Torres Robert Bensoussan sold 6,000 shares of the business’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $42.09, for a total transaction of $252,540.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Choel sold 750 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $41.59, for a total transaction of $31,192.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,250 shares of company stock valued at $382,733. Insiders own 45.40% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.17. Inter Parfums’s dividend payout ratio is currently 51.13%.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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