International Flavors & Fragrances (NYSE:IFF) Issues Earnings Results

Posted by Defense World Staff on Aug 8th, 2023

International Flavors & Fragrances (NYSE:IFF – Get Free Report) issued its quarterly earnings data on Monday. The specialty chemicals company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.24), Briefing.com reports. International Flavors & Fragrances had a positive return on equity of 6.64% and a negative net margin of 17.12%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the prior year, the company posted $1.54 earnings per share. International Flavors & Fragrances’s quarterly revenue was down 12.1% compared to the same quarter last year. International Flavors & Fragrances updated its FY 2023 guidance to EPS.

International Flavors & Fragrances Stock Down 0.2 %

International Flavors & Fragrances stock opened at $80.36 on Tuesday. International Flavors & Fragrances has a fifty-two week low of $75.18 and a fifty-two week high of $129.20. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.53 and a quick ratio of 0.92. The firm has a market capitalization of $20.50 billion, a price-to-earnings ratio of -9.78, a PEG ratio of 4.63 and a beta of 1.09. The company’s 50 day simple moving average is $80.32 and its 200 day simple moving average is $88.91.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 22nd will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.03%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -39.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IFF shares. Wells Fargo & Company decreased their price target on International Flavors & Fragrances from $110.00 to $93.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 18th. Stifel Nicolaus lowered International Flavors & Fragrances from a “buy” rating to a “hold” rating and lowered their target price for the company from $123.00 to $85.00 in a research note on Tuesday. StockNews.com started coverage on International Flavors & Fragrances in a report on Thursday, May 18th. They issued a “sell” rating for the company. Citigroup assumed coverage on shares of International Flavors & Fragrances in a report on Tuesday, June 13th. They set a “neutral” rating and a $84.00 price objective on the stock. Finally, Barclays reduced their target price on shares of International Flavors & Fragrances from $81.00 to $75.00 in a research report on Thursday, May 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $106.71.

Check Out Our Latest Stock Analysis on International Flavors & Fragrances

Insider Buying and Selling at International Flavors & Fragrances

In other news, insider De Villeplee Christoph Fauchon sold 1,972 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $86.35, for a total value of $170,282.20. Following the completion of the transaction, the insider now owns 9,093 shares of the company’s stock, valued at approximately $785,180.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its position in International Flavors & Fragrances by 59.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,772,700 shares of the specialty chemicals company’s stock valued at $814,890,000 after acquiring an additional 2,890,737 shares in the last quarter. State Street Corp lifted its holdings in shares of International Flavors & Fragrances by 26.9% in the first quarter. State Street Corp now owns 13,374,991 shares of the specialty chemicals company’s stock valued at $1,240,654,000 after purchasing an additional 2,835,689 shares in the last quarter. Norges Bank bought a new position in shares of International Flavors & Fragrances during the fourth quarter worth about $108,968,000. Morgan Stanley raised its position in International Flavors & Fragrances by 39.6% in the 4th quarter. Morgan Stanley now owns 2,909,118 shares of the specialty chemicals company’s stock valued at $304,992,000 after buying an additional 824,640 shares during the last quarter. Finally, Sessa Capital IM L.P. lifted its stake in International Flavors & Fragrances by 94.5% in the 4th quarter. Sessa Capital IM L.P. now owns 1,349,675 shares of the specialty chemicals company’s stock valued at $141,500,000 after acquiring an additional 655,632 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

International Flavors & Fragrances Company Profile

(Get Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.