Inter Parfums (NASDAQ:IPAR) Updates FY23 Earnings Guidance

Inter Parfums (NASDAQ:IPARGet Rating) updated its FY23 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.70 for the period, compared to the consensus estimate of $3.52. The company issued revenue guidance of $1.11 billion, compared to the consensus revenue estimate of $1.10 billion.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. DA Davidson boosted their price objective on shares of Inter Parfums from $98.00 to $104.00 and gave the company a buy rating in a research note on Tuesday. Piper Sandler upped their price target on shares of Inter Parfums to $108.00 in a research report on Wednesday, November 16th. TheStreet raised shares of Inter Parfums from a c+ rating to a b- rating in a research report on Monday, August 15th. Finally, StockNews.com started coverage on shares of Inter Parfums in a research report on Wednesday, October 12th. They issued a hold rating for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $109.00.

Inter Parfums Price Performance

IPAR opened at $91.92 on Wednesday. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. Inter Parfums has a fifty-two week low of $64.52 and a fifty-two week high of $108.35. The company’s 50-day moving average price is $79.80 and its 200 day moving average price is $77.41. The company has a quick ratio of 1.71, a current ratio of 2.85 and a debt-to-equity ratio of 0.15.

Inter Parfums Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 14th. This represents a $2.00 annualized dividend and a yield of 2.18%. Inter Parfums’s dividend payout ratio (DPR) is 62.11%.

Insider Buying and Selling

In other Inter Parfums news, CFO Russell Greenberg sold 2,489 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $78.51, for a total value of $195,411.39. Following the completion of the transaction, the chief financial officer now owns 7,500 shares in the company, valued at approximately $588,825. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 44.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IPAR. BNP Paribas Arbitrage SA raised its holdings in shares of Inter Parfums by 1.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 11,253 shares of the company’s stock valued at $822,000 after purchasing an additional 135 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Inter Parfums by 4.9% during the 1st quarter. Captrust Financial Advisors now owns 3,299 shares of the company’s stock valued at $290,000 after purchasing an additional 155 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Inter Parfums by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 53,364 shares of the company’s stock valued at $3,899,000 after purchasing an additional 310 shares in the last quarter. Colony Group LLC raised its holdings in shares of Inter Parfums by 18.3% during the 3rd quarter. Colony Group LLC now owns 4,286 shares of the company’s stock valued at $323,000 after purchasing an additional 663 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Inter Parfums by 101.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,425 shares of the company’s stock valued at $107,000 after purchasing an additional 716 shares in the last quarter. Institutional investors own 55.58% of the company’s stock.

About Inter Parfums

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Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. 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, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.

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Earnings History and Estimates for Inter Parfums (NASDAQ:IPAR)

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