Inter Parfums, Inc. (NASDAQ:IPAR) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Friday, September 28th will be paid a dividend of 0.21 per share on Monday, October 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, September 27th.
Inter Parfums has raised its dividend by an average of 12.3% annually over the last three years and has raised its dividend every year for the last 5 years. Inter Parfums has a dividend payout ratio of 52.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Inter Parfums to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 45.2%.
Shares of IPAR stock traded up $1.35 on Wednesday, hitting $64.20. The stock had a trading volume of 211,459 shares, compared to its average volume of 106,980. The company has a market cap of $1.92 billion, a P/E ratio of 48.27, a P/E/G ratio of 3.14 and a beta of 1.54. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.36 and a quick ratio of 2.53. Inter Parfums has a 12-month low of $37.45 and a 12-month high of $64.50.
Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, August 7th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.09. Inter Parfums had a net margin of 7.12% and a return on equity of 7.80%. The company had revenue of $149.37 million during the quarter, compared to the consensus estimate of $149.42 million. research analysts expect that Inter Parfums will post 1.6 earnings per share for the current fiscal year.
In other Inter Parfums news, insider Philippe Benacin sold 27,923 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $47.78, for a total transaction of $1,334,160.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Pelayo Frederic Garcia sold 5,000 shares of the stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $51.24, for a total transaction of $256,200.00. Following the transaction, the insider now owns 600 shares of the company’s stock, valued at approximately $30,744. The disclosure for this sale can be found here. Insiders have sold 47,923 shares of company stock valued at $2,338,861 in the last 90 days. 45.00% of the stock is currently owned by corporate insiders.
A number of analysts recently issued reports on IPAR shares. BidaskClub downgraded shares of Inter Parfums from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. DA Davidson raised their price objective on shares of Inter Parfums from $54.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, April 26th. Zacks Investment Research downgraded shares of Inter Parfums from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. BWS Financial raised their price objective on shares of Inter Parfums from $56.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Bank of America upgraded shares of Inter Parfums from a “neutral” rating to a “buy” rating in a report on Thursday, May 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.00.
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.
Recommended Story: How Do You Make Money With Penny Stocks?
Receive News & Ratings for Inter Parfums Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Parfums and related companies with MarketBeat.com's FREE daily email newsletter.