Inter Parfums, Inc. (NASDAQ:IPAR) – Investment analysts at Jefferies Financial Group reduced their Q2 2019 EPS estimates for Inter Parfums in a research report issued to clients and investors on Monday, November 12th. Jefferies Financial Group analyst S. Wissink now forecasts that the company will earn $0.37 per share for the quarter, down from their previous forecast of $0.39. Jefferies Financial Group currently has a “Hold” rating and a $60.00 price objective on the stock.
A number of other research firms also recently weighed in on IPAR. BidaskClub raised shares of Inter Parfums from a “hold” rating to a “buy” rating in a research note on Tuesday, September 25th. Zacks Investment Research downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Citigroup set a $64.00 price target on shares of Inter Parfums and gave the stock a “hold” rating in a research note on Wednesday, November 7th. DA Davidson increased their price target on shares of Inter Parfums to $72.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, BWS Financial increased their price target on shares of Inter Parfums to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $67.80.
Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $177.21 million for the quarter, compared to the consensus estimate of $181.14 million. Inter Parfums had a net margin of 7.74% and a return on equity of 8.60%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.55 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a $0.275 dividend. The ex-dividend date is Friday, December 28th. This represents a $1.10 annualized dividend and a dividend yield of 1.90%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.21. Inter Parfums’s dividend payout ratio is presently 63.16%.
In other news, insider Pelayo Frederic Garcia sold 3,600 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $65.20, for a total value of $234,720.00. Following the completion of the sale, the insider now owns 1,000 shares of the company’s stock, valued at $65,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Russell Greenberg sold 1,059 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $66.50, for a total transaction of $70,423.50. Following the completion of the sale, the chief financial officer now directly owns 44 shares of the company’s stock, valued at approximately $2,926. The disclosure for this sale can be found here. 45.00% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Inter Parfums during the 2nd quarter valued at $150,000. SG Americas Securities LLC grew its holdings in Inter Parfums by 58.6% during the 2nd quarter. SG Americas Securities LLC now owns 4,002 shares of the company’s stock valued at $214,000 after purchasing an additional 1,478 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Inter Parfums during the 2nd quarter valued at $215,000. Crossmark Global Holdings Inc. acquired a new stake in Inter Parfums during the 2nd quarter valued at $241,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Inter Parfums during the 3rd quarter valued at $265,000. 56.30% of the stock is 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. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Lanvin, Montblanc, Paul Smith, Repetto, Rochas, S.T.
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