BWS Financial Analysts Raise Earnings Estimates for Inter Parfums, Inc. (NASDAQ:IPAR)

Posted by Defense World Staff on Apr 24th, 2023

Inter Parfums, Inc. (NASDAQ:IPAR – Get Rating) – BWS Financial upped their Q2 2023 EPS estimates for Inter Parfums in a research note issued on Friday, April 21st. BWS Financial analyst H. Khorsand now forecasts that the company will post earnings per share of $0.99 for the quarter, up from their previous estimate of $0.87. BWS Financial currently has a “Buy” rating and a $172.00 price target on the stock. The consensus estimate for Inter Parfums’ current full-year earnings is $4.27 per share. BWS Financial also issued estimates for Inter Parfums’ Q3 2023 earnings at $1.52 EPS, FY2023 earnings at $4.28 EPS, Q1 2024 earnings at $1.44 EPS, Q2 2024 earnings at $1.24 EPS and FY2024 earnings at $5.33 EPS.

Inter Parfums (NASDAQ:IPAR – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.34 by $0.37. The business had revenue of $310.79 million for the quarter, compared to analysts’ expectations of $280.56 million. Inter Parfums had a net margin of 11.13% and a return on equity of 16.94%.

A number of other analysts have also weighed in on IPAR. StockNews.com started coverage on shares of Inter Parfums in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Jefferies Financial Group upped their target price on shares of Inter Parfums from $96.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, January 31st. Piper Sandler upped their price objective on shares of Inter Parfums from $170.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, DA Davidson raised their target price on shares of Inter Parfums from $176.00 to $187.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Inter Parfums Stock Down 0.2 %

Shares of IPAR opened at $157.31 on Monday. The firm’s 50-day simple moving average is $136.05 and its 200 day simple moving average is $109.78. Inter Parfums has a 52 week low of $64.52 and a 52 week high of $161.17. The firm has a market cap of $5.05 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 2.47 and a beta of 1.06. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.44 and a current ratio of 2.29.

Institutional Investors Weigh In On Inter Parfums

Several large investors have recently modified their holdings of the company. Biltmore Wealth Management LLC acquired a new stake in Inter Parfums in the 4th quarter worth about $350,862,000. Point72 Middle East FZE acquired a new stake in shares of Inter Parfums during the fourth quarter worth $27,000. Ronald Blue Trust Inc. acquired a new position in Inter Parfums during the fourth quarter valued at $25,000. Baldwin Brothers LLC MA purchased a new position in Inter Parfums in the fourth quarter valued at about $46,000. Finally, Federated Hermes Inc. grew its stake in Inter Parfums by 131.6% in the second quarter. Federated Hermes Inc. now owns 528 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. 55.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 800 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $138.99, for a total value of $111,192.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Inter Parfums news, COO Pelayo Frederic Garcia sold 800 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $138.99, for a total value of $111,192.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gilbert Harrison sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $137.50, for a total value of $171,875.00. Following the sale, the director now directly owns 750 shares of the company’s stock, valued at $103,125. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,550 shares of company stock valued at $351,567. 44.20% of the stock is currently owned by insiders.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were paid a $0.625 dividend. The ex-dividend date was Tuesday, March 14th. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.50. This represents a $2.50 dividend on an annualized basis and a yield of 1.59%. Inter Parfums’s dividend payout ratio is 66.14%.

Inter Parfums Company Profile

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Inter Parfums, Inc engages in the business of manufacturing, marketing, and distributing wide array of fragrances and related products. It operates through the European Based Operations and United States Based Operations segments. The European Based Operations segment conducts primarily in France. The United States Based Operations segment includes the sale of prestige brand name fragrances.