Inter Parfums, Inc. Expected to Post Q1 2024 Earnings of $1.55 Per Share (NASDAQ:IPAR)

Inter Parfums, Inc. (NASDAQ:IPAR) – Equities researchers at DA Davidson dropped their Q1 2024 EPS estimates for Inter Parfums in a note issued to investors on Friday, April 26th. DA Davidson analyst L. Weiser now expects that the company will post earnings of $1.55 per share for the quarter, down from their prior forecast of $1.81. DA Davidson has a “Buy” rating and a $192.00 price objective on the stock. The consensus estimate for Inter Parfums’ current full-year earnings is $5.15 per share.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, February 27th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm had revenue of $328.74 million for the quarter, compared to analyst estimates of $329.00 million. During the same period in the previous year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis.

Several other equities analysts also recently issued reports on IPAR. BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a report on Wednesday, April 17th. Piper Sandler reduced their price target on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a report on Thursday.

Inter Parfums Stock Up 1.3 %

IPAR stock opened at $119.56 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.44. Inter Parfums has a 1-year low of $116.75 and a 1-year high of $158.13. The firm has a fifty day moving average price of $136.61 and a two-hundred day moving average price of $135.37. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 25.17 and a beta of 1.13.

Inter Parfums Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.75 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.51%. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. Inter Parfums’s dividend payout ratio is presently 63.16%.

Insider Buying and Selling

In related news, Director Gilbert Harrison sold 250 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $150.42, for a total value of $37,605.00. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $150,420. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 43.90% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Several large investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in shares of Inter Parfums by 30.1% during the 1st quarter. Fifth Third Bancorp now owns 3,340 shares of the company’s stock valued at $469,000 after purchasing an additional 773 shares in the last quarter. Raymond James & Associates lifted its stake in Inter Parfums by 10.7% during the first quarter. Raymond James & Associates now owns 105,204 shares of the company’s stock valued at $14,782,000 after buying an additional 10,169 shares in the last quarter. Berry Wealth Group LP purchased a new stake in Inter Parfums during the first quarter valued at about $242,000. Hexagon Capital Partners LLC lifted its stake in Inter Parfums by 84.0% during the first quarter. Hexagon Capital Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 121 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in Inter Parfums by 26.9% during the first quarter. Annex Advisory Services LLC now owns 53,111 shares of the company’s stock valued at $7,463,000 after buying an additional 11,259 shares in the last quarter. Institutional investors own 55.57% of the company’s stock.

About Inter Parfums

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. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.