Analysts Issue Forecasts for Inter Parfums, Inc.’s Q2 2023 Earnings (NASDAQ:IPAR)

Posted by Defense World Staff on May 22nd, 2023

Inter Parfums, Inc. (NASDAQ:IPAR – Get Rating) – Research analysts at BWS Financial decreased their Q2 2023 earnings per share estimates for Inter Parfums in a research report issued on Wednesday, May 17th. BWS Financial analyst H. Khorsand now expects that the company will post earnings of $0.89 per share for the quarter, down from their previous estimate of $0.99. BWS Financial currently has a “Buy” rating and a $172.00 target price on the stock. The consensus estimate for Inter Parfums’ current full-year earnings is $4.25 per share. BWS Financial also issued estimates for Inter Parfums’ Q3 2023 earnings at $1.40 EPS, FY2023 earnings at $4.25 EPS, Q1 2024 earnings at $1.36 EPS, Q2 2024 earnings at $1.18 EPS and FY2024 earnings at $5.19 EPS.

Other research analysts have also recently issued research reports about the company. Jefferies Financial Group upped their target price on Inter Parfums from $96.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, January 31st. Piper Sandler boosted their price target on Inter Parfums from $170.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. DA Davidson boosted their price target on Inter Parfums from $176.00 to $187.00 and gave the company a “buy” rating in a report on Friday, April 21st. Finally, StockNews.com upgraded Inter Parfums from a “hold” rating to a “buy” rating in a report on Tuesday, May 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inter Parfums has an average rating of “Moderate Buy” and a consensus price target of $160.25.

Inter Parfums Trading Up 0.8 %

Shares of NASDAQ IPAR opened at $134.23 on Monday. The business’s 50 day moving average is $143.68 and its two-hundred day moving average is $119.22. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.35 and a quick ratio of 1.46. Inter Parfums has a 1-year low of $64.52 and a 1-year high of $161.17. The stock has a market capitalization of $4.30 billion, a P/E ratio of 30.79, a PEG ratio of 2.09 and a beta of 1.06.

Inter Parfums (NASDAQ:IPAR – Get Rating) last issued its quarterly earnings data on Monday, May 8th. The company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.29. Inter Parfums had a return on equity of 18.87% and a net margin of 12.17%. The company had revenue of $311.72 million for the quarter, compared to analysts’ expectations of $312.07 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis.

Inter Parfums Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, June 14th. Inter Parfums’s payout ratio is presently 57.34%.

Insider Transactions at Inter Parfums

In other news, COO Pelayo Frederic Garcia sold 800 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Gilbert Harrison sold 500 shares of the company’s stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $137.00, for a total value of $68,500.00. Following the transaction, 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 SEC, which is available through this hyperlink. Also, COO Pelayo Frederic Garcia sold 800 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $138.99, for a total value of $111,192.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,550 shares of company stock valued at $351,567. Corporate insiders own 44.20% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

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

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.