Q1 2023 EPS Estimates for Inter Parfums, Inc. (NASDAQ:IPAR) Increased by Analyst

Posted by Defense World Staff on Apr 26th, 2023

Inter Parfums, Inc. (NASDAQ:IPAR – Get Rating) – Research analysts at Zacks Research increased their Q1 2023 earnings estimates for shares of Inter Parfums in a note issued to investors on Monday, April 24th. Zacks Research analyst V. Bagree now expects that the company will earn $1.31 per share for the quarter, up from their prior estimate of $1.18. The consensus estimate for Inter Parfums’ current full-year earnings is $4.27 per share. Zacks Research also issued estimates for Inter Parfums’ Q2 2023 earnings at $1.01 EPS, Q3 2023 earnings at $1.43 EPS, Q4 2023 earnings at $0.51 EPS, FY2023 earnings at $4.25 EPS, Q1 2024 earnings at $1.19 EPS, Q2 2024 earnings at $0.97 EPS, Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $4.27 EPS, Q1 2025 earnings at $1.25 EPS and FY2025 earnings at $4.99 EPS.

Other research analysts also recently issued reports about the stock. StockNews.com assumed coverage on shares of Inter Parfums in a report on Thursday, March 16th. They issued a “hold” rating for the company. Jefferies Financial Group raised their price objective 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. DA Davidson raised their price objective on shares of Inter Parfums from $176.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, April 21st. Piper Sandler raised their price objective on shares of Inter Parfums from $170.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Finally, BWS Financial raised their price objective on shares of Inter Parfums from $150.00 to $172.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Inter Parfums has an average rating of “Moderate Buy” and an average price target of $148.00.

Inter Parfums Stock Down 1.7 %

Inter Parfums stock opened at $153.94 on Tuesday. Inter Parfums has a twelve month low of $64.52 and a twelve month high of $161.17. The firm has a 50 day moving average price of $137.53 and a 200-day moving average price of $110.90. The company has a market capitalization of $4.94 billion, a P/E ratio of 40.72, a P/E/G ratio of 2.46 and a beta of 1.06. The company has a quick ratio of 1.44, a current ratio of 2.29 and a debt-to-equity ratio of 0.19.

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

Inter Parfums Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were paid a $0.625 dividend. The ex-dividend date of this dividend was Tuesday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.50. This represents a $2.50 annualized dividend and a yield of 1.62%. Inter Parfums’s dividend payout ratio is currently 66.14%.

Insiders Place Their Bets

In other news, Director Gilbert Harrison sold 500 shares of Inter Parfums stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $137.00, for a total transaction of $68,500.00. Following the completion of the sale, the director now directly owns 250 shares of the company’s stock, valued at approximately $34,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Gilbert Harrison sold 500 shares of Inter Parfums stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $137.00, for a total transaction of $68,500.00. Following the completion of the sale, the director now directly owns 250 shares of the company’s stock, valued at approximately $34,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Pelayo Frederic Garcia sold 800 shares of Inter Parfums stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $138.99, for a total transaction of $111,192.00. The disclosure for this sale can be found here. Insiders have sold 2,550 shares of company stock worth $351,567 in the last three months. 44.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Inter Parfums

Several hedge funds have recently added to or reduced their stakes in IPAR. JPMorgan Chase & Co. lifted its stake in Inter Parfums by 17.1% in the first quarter. JPMorgan Chase & Co. now owns 114,363 shares of the company’s stock worth $10,069,000 after purchasing an additional 16,670 shares during the last quarter. American Century Companies Inc. lifted its stake in Inter Parfums by 21.1% in the first quarter. American Century Companies Inc. now owns 16,915 shares of the company’s stock worth $1,489,000 after purchasing an additional 2,949 shares during the last quarter. Citigroup Inc. lifted its stake in Inter Parfums by 10.0% in the first quarter. Citigroup Inc. now owns 15,487 shares of the company’s stock worth $1,364,000 after purchasing an additional 1,412 shares during the last quarter. MetLife Investment Management LLC lifted its stake in Inter Parfums by 51.4% in the first quarter. MetLife Investment Management LLC now owns 9,932 shares of the company’s stock worth $875,000 after purchasing an additional 3,372 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Inter Parfums by 5.0% in the first quarter. Rhumbline Advisers now owns 55,065 shares of the company’s stock valued at $4,848,000 after acquiring an additional 2,604 shares during the period. 55.41% of the stock is owned by institutional investors.

About Inter Parfums

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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.