International Flavors & Fragrances (NYSE:IFF) Releases Earnings Results, Beats Estimates By $0.27 EPS

International Flavors & Fragrances (NYSE:IFF) posted its quarterly earnings data on Monday. The specialty chemicals company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.86 by $0.27, Briefing.com reports. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.78 billion. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. International Flavors & Fragrances’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $93.94 on Tuesday. The company has a 50 day moving average price of $82.84 and a 200-day moving average price of $79.10. International Flavors & Fragrances has a 1-year low of $62.11 and a 1-year high of $97.49. The firm has a market cap of $23.98 billion, a price-to-earnings ratio of -9.30, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 1.02.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.60 annualized dividend and a yield of 1.70%. International Flavors & Fragrances’s dividend payout ratio is presently -15.94%.

Wall Street Analyst Weigh In

Several analysts have recently commented on IFF shares. Wells Fargo & Company increased their price objective on International Flavors & Fragrances from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Barclays raised International Flavors & Fragrances from an “underweight” rating to an “equal weight” rating in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Wolfe Research began coverage on shares of International Flavors & Fragrances in a research note on Friday, March 1st. They issued an “underperform” rating for the company. Finally, UBS Group upped their price target on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.65.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.