Equities Analysts Issue Forecasts for Inter Parfums, Inc.’s Q1 2024 Earnings (NASDAQ:IPAR)

Inter Parfums, Inc. (NASDAQ:IPAR) – Stock analysts at DA Davidson decreased their Q1 2024 earnings per share estimates for shares of Inter Parfums in a note issued to investors on Friday, April 26th. DA Davidson analyst L. Weiser now expects that the company will post earnings per share of $1.55 for the quarter, down from their prior estimate of $1.81. DA Davidson currently has a “Buy” rating and a $192.00 price target on the stock. The consensus estimate for Inter Parfums’ current full-year earnings is $5.15 per share.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The firm had revenue of $328.74 million for the quarter, compared to analysts’ expectations of $329.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share.

A number of other brokerages have also recently commented on IPAR. BWS Financial reaffirmed a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, April 17th. Piper Sandler decreased their price target on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th.

Inter Parfums Price Performance

Shares of Inter Parfums stock opened at $116.38 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. The business’s 50 day simple moving average is $135.20 and its two-hundred day simple moving average is $135.30. The stock has a market capitalization of $3.73 billion, a P/E ratio of 24.50 and a beta of 1.13. Inter Parfums has a one year low of $115.58 and a one year high of $156.75.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.75 dividend. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, March 14th. Inter Parfums’s dividend payout ratio (DPR) is currently 63.16%.

Insider Transactions at Inter Parfums

In other news, Director Gilbert Harrison sold 250 shares of Inter Parfums stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $150.42, for a total value of $37,605.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $150,420. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 43.90% of the company’s stock.

Institutional Investors Weigh In On Inter Parfums

Several hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. boosted its position in shares of Inter Parfums by 49.2% during the first quarter. Benjamin Edwards Inc. now owns 1,562 shares of the company’s stock valued at $219,000 after purchasing an additional 515 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Inter Parfums by 30.1% during the first quarter. Fifth Third Bancorp now owns 3,340 shares of the company’s stock valued at $469,000 after purchasing an additional 773 shares in the last quarter. Raymond James & Associates boosted its position in shares of Inter Parfums by 10.7% during the first quarter. Raymond James & Associates now owns 105,204 shares of the company’s stock valued at $14,782,000 after purchasing an additional 10,169 shares in the last quarter. Berry Wealth Group LP bought a new stake in shares of Inter Parfums during the first quarter valued at approximately $242,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Inter Parfums by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 121 shares in the last quarter. 55.57% of the stock is currently owned by institutional investors.

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.