KeyCorp Analysts Raise Earnings Estimates for Inter Parfums, Inc. (IPAR)

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.

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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.

Earnings History and Estimates for Inter Parfums (NASDAQ:IPAR)

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