International Flavors & Fragrances (NYSE:IFF) Issues Earnings Results

International Flavors & Fragrances (NYSE:IFF) released its earnings results on Tuesday. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.46), RTT News reports. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Price Performance

Shares of NYSE:IFF traded down $11.63 on Wednesday, reaching $87.47. The company’s stock had a trading volume of 3,879,633 shares, compared to its average volume of 1,656,622. The company has a 50-day simple moving average of $102.93 and a 200 day simple moving average of $98.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38. International Flavors & Fragrances has a 52-week low of $69.73 and a 52-week high of $106.77. The company has a market cap of $22.36 billion, a P/E ratio of -9.61, a PEG ratio of 1.76 and a beta of 1.22.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a dividend yield of 1.83%. International Flavors & Fragrances’s dividend payout ratio (DPR) is -17.35%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays lifted their target price on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. Oppenheimer upped their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Stifel Nicolaus boosted their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their price target for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company upped their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.43.

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.