Brokerages predict that Inter Parfums, Inc. (NASDAQ:IPAR) will announce sales of $149.50 million for the current quarter, Zacks reports. Four analysts have issued estimates for Inter Parfums’ earnings. Inter Parfums posted sales of $134.77 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.9%. The business is expected to report its next quarterly earnings results on Monday, March 12th.
On average, analysts expect that Inter Parfums will report full year sales of $149.50 million for the current fiscal year, with estimates ranging from $591.20 million to $591.30 million. For the next fiscal year, analysts forecast that the firm will report sales of $624.20 million per share, with estimates ranging from $621.00 million to $628.10 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Inter Parfums.
Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $160.52 million. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share.
Several research analysts recently issued reports on IPAR shares. KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the stock a “buy” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Saturday. DA Davidson raised shares of Inter Parfums from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $51.00 in a report on Wednesday, January 10th. Sidoti cut shares of Inter Parfums from a “buy” rating to a “neutral” rating in a report on Thursday, November 2nd. Finally, Citigroup set a $52.00 price target on shares of Inter Parfums and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Inter Parfums has an average rating of “Hold” and an average target price of $45.67.
In other Inter Parfums news, CFO Philippe Santi sold 600 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $43.86, for a total value of $26,316.00. Following the completion of the transaction, the chief financial officer now directly owns 600 shares of the company’s stock, valued at $26,316. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Russell Greenberg sold 7,595 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $47.59, for a total transaction of $361,446.05. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $237,950. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,595 shares of company stock valued at $2,010,612. 45.40% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of IPAR. Atlanta Capital Management Co. L L C increased its holdings in Inter Parfums by 14.0% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,168,496 shares of the company’s stock valued at $42,825,000 after buying an additional 143,072 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Inter Parfums by 37.1% in the second quarter. Renaissance Technologies LLC now owns 343,713 shares of the company’s stock valued at $12,597,000 after buying an additional 93,100 shares in the last quarter. Fort Pitt Capital Group LLC increased its holdings in Inter Parfums by 31.6% in the second quarter. Fort Pitt Capital Group LLC now owns 386,988 shares of the company’s stock valued at $14,183,000 after buying an additional 92,965 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Inter Parfums by 65.7% in the second quarter. New York State Common Retirement Fund now owns 151,446 shares of the company’s stock valued at $5,550,000 after buying an additional 60,064 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Inter Parfums by 93.2% in the second quarter. TIAA CREF Investment Management LLC now owns 89,955 shares of the company’s stock valued at $3,297,000 after buying an additional 43,400 shares in the last quarter. 55.52% of the stock is owned by institutional investors.
Inter Parfums (NASDAQ:IPAR) traded down $1.95 during midday trading on Friday, reaching $42.00. 117,556 shares of the company traded hands, compared to its average volume of 122,286. The stock has a market capitalization of $1,370.66, a PE ratio of 32.32, a P/E/G ratio of 2.49 and a beta of 1.70. Inter Parfums has a 52-week low of $33.72 and a 52-week high of $48.35. The company has a quick ratio of 2.54, a current ratio of 3.39 and a debt-to-equity ratio of 0.07.
The business also recently announced a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 29th were issued a $0.21 dividend. The ex-dividend date was Thursday, December 28th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.17. This represents a $0.84 dividend on an annualized basis and a yield of 2.00%. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.
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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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