International Flavors & Fragrances (NYSE:IFF) Issues Quarterly Earnings Results

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

International Flavors & Fragrances Price Performance

NYSE:IFF opened at $94.41 on Wednesday. The company has a 50 day moving average price of $83.24 and a 200-day moving average price of $79.30. 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 $24.10 billion, a price-to-earnings ratio of -9.40, 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 1.69%. International Flavors & Fragrances’s dividend payout ratio is presently -15.94%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $75.00 to $100.00 in a research report on Wednesday. Wolfe Research initiated coverage on International Flavors & Fragrances in a research note on Friday, March 1st. They set an “underperform” rating for the company. Jefferies Financial Group upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and raised their target price for the stock from $73.00 to $112.00 in a research note on Friday, January 12th. Wells Fargo & Company upped their price target on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Finally, StockNews.com upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $89.59.

International Flavors & Fragrances Company Profile

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.