Inter Parfums (NASDAQ:IPAR) Issues FY 2023 Earnings Guidance

Posted by Simon Gomez on May 26th, 2023

Inter Parfums (NASDAQ:IPAR – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share guidance of $4.25-$4.25 for the period, compared to the consensus earnings per share estimate of $4.26. The company issued revenue guidance of $1.25 billion-$1.25 billion, compared to the consensus revenue estimate of $1.25 billion.

Analyst Ratings Changes

IPAR has been the topic of several research reports. BWS Financial boosted their target price on Inter Parfums from $150.00 to $172.00 and gave the company a buy rating in a research note on Friday, March 3rd. DA Davidson boosted their target price on shares of Inter Parfums from $176.00 to $187.00 and gave the company a buy rating in a research report on Friday, April 21st. Piper Sandler upped their target price on Inter Parfums from $170.00 to $178.00 and gave the company an overweight rating in a research report on Thursday, April 20th. Jefferies Financial Group raised their target price on Inter Parfums from $96.00 to $104.00 and gave the company a hold rating in a report on Tuesday, January 31st. Finally, StockNews.com cut shares of Inter Parfums from a buy rating to a hold rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $160.25.

Inter Parfums Stock Up 0.7 %

Shares of NASDAQ:IPAR traded up $0.88 during midday trading on Friday, hitting $130.59. 18,255 shares of the company’s stock were exchanged, compared to its average volume of 136,508. The company has a market cap of $4.18 billion, a PE ratio of 29.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.06. 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 12 month low of $64.52 and a 12 month high of $161.17. The stock has a 50 day moving average price of $143.15 and a 200-day moving average price of $120.09.

Inter Parfums (NASDAQ:IPAR – Get Rating) last released its quarterly earnings results on Monday, May 8th. The company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.29. Inter Parfums had a net margin of 12.17% and a return on equity of 18.87%. The company had revenue of $311.72 million for the quarter, compared to analyst estimates of $312.07 million. During the same period last year, the firm earned $1.10 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. On average, sell-side analysts anticipate that Inter Parfums will post 4.25 EPS for the current fiscal year.

Inter Parfums Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were paid a $0.625 dividend. This is a boost from Inter Parfums’s previous quarterly dividend of $0.50. This represents a $2.50 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, March 14th. Inter Parfums’s payout ratio is currently 57.34%.

Insider Activity at Inter Parfums

In related news, Director Gilbert Harrison sold 1,250 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $137.50, for a total transaction of $171,875.00. Following the sale, the director now owns 750 shares of the company’s stock, valued at approximately $103,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Pelayo Frederic Garcia sold 800 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $138.99, for a total value of $111,192.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gilbert Harrison sold 1,250 shares of Inter Parfums stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $137.50, for a total value of $171,875.00. Following the sale, the director now directly owns 750 shares of the company’s stock, valued at approximately $103,125. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,550 shares of company stock worth $351,567. Corporate insiders own 44.20% of the company’s stock.

Institutional Trading of Inter Parfums

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Middle East FZE bought a new position in Inter Parfums in the fourth quarter valued at $27,000. Fortis Capital Advisors LLC raised its holdings in shares of Inter Parfums by 1,936.1% during the 1st quarter. Fortis Capital Advisors LLC now owns 733 shares of the company’s stock valued at $104,000 after buying an additional 697 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Inter Parfums by 1,936.1% in the 1st quarter. Belpointe Asset Management LLC now owns 733 shares of the company’s stock worth $104,000 after buying an additional 697 shares during the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in Inter Parfums in the fourth quarter worth approximately $73,000. Finally, Tower Research Capital LLC TRC grew its position in Inter Parfums by 101.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,425 shares of the company’s stock valued at $107,000 after acquiring an additional 716 shares during the last quarter. Hedge funds and other institutional investors own 55.41% of the company’s stock.

About Inter Parfums

(Get Rating)

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.