Inter Parfums (NASDAQ:IPAR) Updates FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $5.15 for the period, compared to the consensus EPS estimate of $5.16. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.45 billion.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR traded down $4.79 on Wednesday, reaching $118.48. 339,994 shares of the company traded hands, compared to its average volume of 144,285. The company’s 50 day moving average is $131.38 and its 200-day moving average is $134.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The stock has a market capitalization of $3.79 billion, a PE ratio of 24.94 and a beta of 1.19. Inter Parfums has a fifty-two week low of $114.71 and a fifty-two week high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.29). The firm had revenue of $323.96 million for the quarter, compared to analyst estimates of $324.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. Inter Parfums’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period last year, the firm earned $1.68 earnings per share. As a group, analysts anticipate that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a yield of 2.53%. Inter Parfums’s payout ratio is presently 63.16%.

Analyst Upgrades and Downgrades

IPAR has been the topic of several research reports. DA Davidson reaffirmed a buy rating and issued a $192.00 target price on shares of Inter Parfums in a research report on Friday, April 26th. BWS Financial reiterated a buy rating and issued a $172.00 price objective on shares of Inter Parfums in a report on Wednesday, April 17th. Finally, Piper Sandler reduced their target price on Inter Parfums from $176.00 to $172.00 and set an overweight rating for the company in a report on Thursday, April 25th.

Insider Activity

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total transaction of $37,605.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 43.90% of the stock is currently owned by company insiders.

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.