Zacks Research Comments on International Flavors & Fragrances Inc.’s Q1 2024 Earnings (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFF) – Investment analysts at Zacks Research reduced their Q1 2024 earnings per share (EPS) estimates for shares of International Flavors & Fragrances in a report released on Thursday, March 28th. Zacks Research analyst M. Das now forecasts that the specialty chemicals company will earn $0.84 per share for the quarter, down from their previous forecast of $0.90. The consensus estimate for International Flavors & Fragrances’ current full-year earnings is $3.71 per share. Zacks Research also issued estimates for International Flavors & Fragrances’ Q2 2024 earnings at $0.91 EPS, Q3 2024 earnings at $0.92 EPS, FY2024 earnings at $3.52 EPS, Q1 2025 earnings at $1.01 EPS, Q3 2025 earnings at $0.94 EPS, Q4 2025 earnings at $0.94 EPS, FY2025 earnings at $3.93 EPS and FY2026 earnings at $4.35 EPS.

A number of other equities analysts also recently issued reports on IFF. Morgan Stanley increased their target price on International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup lowered their price target on International Flavors & Fragrances from $85.00 to $81.00 and set a “neutral” rating on the stock in a report on Friday, February 23rd. Robert W. Baird upped their price target on International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Mizuho increased their target price on International Flavors & Fragrances from $83.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their target price on International Flavors & Fragrances from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.29.

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $85.97 on Friday. The company has a market cap of $21.95 billion, a price-to-earnings ratio of -8.56, a price-to-earnings-growth ratio of 1.90 and a beta of 1.22. The stock has a 50 day simple moving average of $80.42 and a 200-day simple moving average of $75.52. International Flavors & Fragrances has a 12-month low of $62.11 and a 12-month high of $97.49. The company has a current ratio of 1.67, a quick ratio of 1.02 and a debt-to-equity ratio of 0.63.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.03). The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The firm’s revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 earnings per share.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IFF. Winder Pte. Ltd. purchased a new position in shares of International Flavors & Fragrances in the 3rd quarter worth $1,728,544,000. Dodge & Cox purchased a new position in International Flavors & Fragrances in the fourth quarter valued at about $1,250,236,000. Price T Rowe Associates Inc. MD raised its position in International Flavors & Fragrances by 59.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,772,700 shares of the specialty chemicals company’s stock valued at $814,890,000 after purchasing an additional 2,890,737 shares during the period. State Street Corp raised its position in International Flavors & Fragrances by 26.9% in the first quarter. State Street Corp now owns 13,374,991 shares of the specialty chemicals company’s stock valued at $1,240,654,000 after purchasing an additional 2,835,689 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in International Flavors & Fragrances in the third quarter valued at about $95,612,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

International Flavors & Fragrances Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Friday, March 22nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Thursday, March 21st. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently -15.94%.

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.