$1.31 Billion in Sales Expected for International Flavors & Fragrances Inc (NYSE:IFF) This Quarter

Wall Street brokerages forecast that International Flavors & Fragrances Inc (NYSE:IFF) will post $1.31 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for International Flavors & Fragrances’ earnings, with estimates ranging from $1.30 billion to $1.31 billion. International Flavors & Fragrances posted sales of $920.02 million in the same quarter last year, which would indicate a positive year over year growth rate of 42.4%. The company is scheduled to report its next earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that International Flavors & Fragrances will report full year sales of $5.20 billion for the current year, with estimates ranging from $5.16 billion to $5.24 billion. For the next year, analysts expect that the firm will report sales of $5.42 billion, with estimates ranging from $5.32 billion to $5.47 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for International Flavors & Fragrances.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.05. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. International Flavors & Fragrances had a return on equity of 12.74% and a net margin of 7.29%. The company’s revenue for the quarter was up 39.4% compared to the same quarter last year. During the same period last year, the firm earned $1.79 earnings per share.

Several analysts have recently issued reports on IFF shares. Barclays reiterated a “sell” rating on shares of International Flavors & Fragrances in a research note on Monday, February 18th. Zacks Investment Research cut International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Citigroup cut their price target on International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, February 21st. Seaport Global Securities began coverage on International Flavors & Fragrances in a research note on Thursday, February 21st. They issued a “neutral” rating on the stock. Finally, KeyCorp cut their price target on International Flavors & Fragrances from $160.00 to $143.00 and set an “overweight” rating on the stock in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. International Flavors & Fragrances has an average rating of “Hold” and a consensus price target of $150.25.

Shares of NYSE IFF traded down $0.55 during mid-day trading on Friday, hitting $151.60. The company had a trading volume of 725,101 shares, compared to its average volume of 947,238. The stock has a market cap of $16.12 billion, a P/E ratio of 24.14 and a beta of 0.74. The company has a current ratio of 2.56, a quick ratio of 1.58 and a debt-to-equity ratio of 0.72. International Flavors & Fragrances has a 1-year low of $121.85 and a 1-year high of $152.95.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Monday, June 24th will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, June 21st. International Flavors & Fragrances’s dividend payout ratio is presently 46.50%.

In other International Flavors & Fragrances news, insider Nicolas Mirzayantz sold 2,500 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $142.00, for a total value of $355,000.00. Following the sale, the insider now directly owns 40,858 shares in the company, valued at $5,801,836. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 8,608 shares of company stock worth $1,217,219. 0.39% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the business. Winder Investment Pte Ltd grew its holdings in shares of International Flavors & Fragrances by 3.9% during the first quarter. Winder Investment Pte Ltd now owns 20,300,000 shares of the specialty chemicals company’s stock worth $2,614,437,000 after purchasing an additional 763,142 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of International Flavors & Fragrances by 13.7% during the third quarter. Vanguard Group Inc now owns 10,298,969 shares of the specialty chemicals company’s stock worth $1,432,792,000 after purchasing an additional 1,239,892 shares during the last quarter. BlackRock Inc. grew its holdings in shares of International Flavors & Fragrances by 3.7% during the first quarter. BlackRock Inc. now owns 7,047,059 shares of the specialty chemicals company’s stock worth $907,591,000 after purchasing an additional 252,241 shares during the last quarter. FMR LLC grew its holdings in shares of International Flavors & Fragrances by 32.4% during the fourth quarter. FMR LLC now owns 3,032,597 shares of the specialty chemicals company’s stock worth $406,944,000 after purchasing an additional 741,633 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of International Flavors & Fragrances by 28.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,262,638 shares of the specialty chemicals company’s stock worth $303,803,000 after purchasing an additional 504,827 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Earnings History and Estimates for International Flavors & Fragrances (NYSE:IFF)

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