Brokers Offer Predictions for International Flavors & Fragrances Inc.’s Q2 2024 Earnings (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFF) – Research analysts at Zacks Research reduced their Q2 2024 earnings estimates for International Flavors & Fragrances in a research note issued to investors on Wednesday, April 10th. Zacks Research analyst M. Das now forecasts that the specialty chemicals company will earn $0.89 per share for the quarter, down from their previous forecast of $0.91. The consensus estimate for International Flavors & Fragrances’ current full-year earnings is $3.69 per share. Zacks Research also issued estimates for International Flavors & Fragrances’ FY2024 earnings at $3.51 EPS and Q1 2025 earnings at $1.00 EPS.

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). International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The company had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The company’s revenue was down 5.0% compared to the same quarter last year.

Other equities analysts have also recently issued reports about the stock. UBS Group raised their price target on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Robert W. Baird increased their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Argus downgraded International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. StockNews.com upgraded International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Finally, Mizuho raised their price target on International Flavors & Fragrances from $83.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $86.35.

International Flavors & Fragrances Stock Down 3.4 %

NYSE:IFF opened at $83.61 on Friday. The stock has a 50-day simple moving average of $81.37 and a 200 day simple moving average of $76.81. International Flavors & Fragrances has a 52-week low of $62.11 and a 52-week high of $97.49. The company has a market cap of $21.35 billion, a PE ratio of -8.33, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67.

International Flavors & Fragrances Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, March 21st. International Flavors & Fragrances’s dividend payout ratio is presently -15.94%.

Institutional Investors Weigh In On International Flavors & Fragrances

Hedge funds have recently bought and sold shares of the stock. Winder Pte. Ltd. bought a new position in shares of International Flavors & Fragrances during the third quarter worth approximately $1,728,544,000. Dodge & Cox bought a new position in International Flavors & Fragrances during the 4th quarter worth $1,250,236,000. State Street Corp lifted its holdings in shares of International Flavors & Fragrances by 26.9% during the first quarter. State Street Corp now owns 13,374,991 shares of the specialty chemicals company’s stock worth $1,240,654,000 after buying an additional 2,835,689 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 acquiring an additional 2,890,737 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of International Flavors & Fragrances by 16.3% in the third quarter. Nordea Investment Management AB now owns 5,672,776 shares of the specialty chemicals company’s stock valued at $388,358,000 after acquiring an additional 795,797 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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.