Inter Parfums (NASDAQ:IPAR) Updates FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.15 for the period, compared to the consensus earnings per share estimate of $5.16. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.45 billion.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR traded up $3.48 during midday trading on Tuesday, reaching $123.27. The company’s stock had a trading volume of 176,951 shares, compared to its average volume of 142,062. The business’s fifty day simple moving average is $132.52 and its 200-day simple moving average is $135.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. Inter Parfums has a fifty-two week low of $114.88 and a fifty-two week high of $156.75. The company has a market capitalization of $3.95 billion, a P/E ratio of 25.22 and a beta of 1.19.

Inter Parfums (NASDAQ:IPAR) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $328.74 million during the quarter, compared to the consensus estimate of $329.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. As a group, equities research analysts expect that Inter Parfums will post 5.15 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio is currently 63.16%.

Analyst Ratings Changes

A number of research firms have weighed in on IPAR. BWS Financial reaffirmed a buy rating and set a $172.00 price target on shares of Inter Parfums in a research report on Wednesday, April 17th. Piper Sandler decreased their target price on shares of Inter Parfums from $176.00 to $172.00 and set an overweight rating for the company in a research report on Thursday, April 25th. Finally, DA Davidson restated a buy rating and set a $192.00 price objective on shares of Inter Parfums in a research note on Friday, April 26th.

Insiders Place Their Bets

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $150.42, for a total transaction of $37,605.00. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $150,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 43.90% of the company’s stock.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.