Inter Parfums (NASDAQ:IPAR) Stock Price Down 5.9% Following Weak Earnings – MarketBeat

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Shares of Inter Parfums, Inc. (NASDAQ:IPARGet Rating) dropped 5.9% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $79.17 and last traded at $79.17. Approximately 1,422 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 100,337 shares. The stock had previously closed at $84.14.
The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.10). The business had revenue of $244.70 million for the quarter, compared to the consensus estimate of $215.78 million. Inter Parfums had a net margin of 10.20% and a return on equity of 12.74%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS.

Inter Parfums Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Tuesday, June 14th. Inter Parfums’s dividend payout ratio is currently 67.34%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of Inter Parfums from $87.00 to $94.00 and gave the company a “buy” rating in a research report on Tuesday, July 26th. TheStreet cut shares of Inter Parfums from a “b” rating to a “c+” rating in a research report on Monday, May 23rd. Finally, Citigroup raised shares of Inter Parfums from a “neutral” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Monday, May 16th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Insiders Place Their Bets

In other news, CFO Russell Greenberg sold 9,016 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $81.25, for a total transaction of $732,550.00. Following the transaction, the chief financial officer now directly owns 7,500 shares in the company, valued at $609,375. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 44.20% of the company’s stock.

Hedge Funds Weigh In On Inter Parfums

Hedge funds and other institutional investors have recently modified their holdings of the business. Fifth Third Bancorp boosted its stake in shares of Inter Parfums by 91.4% during the first quarter. Fifth Third Bancorp now owns 291 shares of the company’s stock valued at $26,000 after purchasing an additional 139 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Inter Parfums during the first quarter valued at approximately $64,000. FinTrust Capital Advisors LLC lifted its position in Inter Parfums by 92.0% during the second quarter. FinTrust Capital Advisors LLC now owns 960 shares of the company’s stock valued at $78,000 after acquiring an additional 460 shares during the last quarter. Lazard Asset Management LLC lifted its position in Inter Parfums by 39.7% during the fourth quarter. Lazard Asset Management LLC now owns 908 shares of the company’s stock valued at $97,000 after acquiring an additional 258 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Inter Parfums by 1,872.6% during the second quarter. First Horizon Advisors Inc. now owns 1,440 shares of the company’s stock valued at $105,000 after acquiring an additional 1,367 shares during the last quarter. 57.42% of the stock is currently owned by institutional investors.

Inter Parfums Price Performance

The stock’s 50-day moving average is $74.80 and its 200 day moving average is $81.83. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.94 and a quick ratio of 2.03. The company has a market cap of $2.52 billion, a PE ratio of 26.78 and a beta of 1.00.

Inter Parfums Company Profile

(Get Rating)
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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