Zacks Reiterates Neutral Rating for International Flavors & Fragrances (IFF)
International Flavors & Fragrances (NYSE:IFF)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday. They currently have a $102.00 target price on the stock. Zacks‘s price objective would indicate a potential upside of 4.50% from the company’s current price.
Zacks’ analyst wrote, “International Flavors & Fragrances posted adjusted earnings of $1.37 per share, up 20.2% year over year and above the Zacks Consensus Estimate of $1.35. Revenues grew 4% due to sales growth in the Fragrances division. Flavors business suffered from volume reduction in North America, while Aromor added 1% to sales growth. Margins benefited from cost saving and manufacturing efficiencies. For 2014, revenue growth guidance has been revised down due to lower volumes expected for the Flavors business in North America. Aromor is anticipated to add 1% to sales growth. Also, the increased dividend rate will boost shareholders’ confidence. However, negative foreign currency translation impact and higher costs will restrict growth momentum. Thus, we maintain a Neutral recommendation on the stock.”
Shares of International Flavors & Fragrances (NYSE:IFF) traded up 0.39% on Friday, hitting $97.99. 193,227 shares of the company’s stock traded hands. International Flavors & Fragrances has a 52-week low of $78.75 and a 52-week high of $105.84. The stock’s 50-day moving average is $103.2 and its 200-day moving average is $96.67. The company has a market cap of $7.953 billion and a P/E ratio of 21.28.
International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.35 by $0.02. The company had revenue of $788.40 million for the quarter, compared to the consensus estimate of $794.83 million. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts expect that International Flavors & Fragrances will post $5.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 7th. Stockholders of record on Thursday, September 25th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, September 23rd. This is a boost from International Flavors & Fragrances’s previous quarterly dividend of $0.39.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of International Flavors & Fragrances in a research note on Wednesday. They now have a $104.00 price target on the stock, up previously from $99.00. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of International Flavors & Fragrances in a research note on Wednesday, July 16th. They now have a $116.00 price target on the stock, up previously from $107.00. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of International Flavors & Fragrances in a research note on Monday, June 23rd. They now have a $110.00 price target on the stock, up previously from $103.00. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $107.71.
International Flavors & Fragrances Inc (NYSE:IFF) creates, manufactures and supplies flavors and fragrances for the food, beverage, personal care and household products industries.
To view Zacks’ full report, visit Zacks’ official website.
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