Inter Parfums, Inc. (NASDAQ:IPAR) – Analysts at DA Davidson decreased their Q4 2017 earnings estimates for shares of Inter Parfums in a research note issued to investors on Friday. DA Davidson analyst L. Weiser now forecasts that the company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.13. DA Davidson currently has a “Neutral” rating and a $49.00 price target on the stock. DA Davidson also issued estimates for Inter Parfums’ Q1 2018 earnings at $0.48 EPS and Q3 2018 earnings at $0.59 EPS.
Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. The business had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $160.52 million. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share.
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A number of other brokerages have also recently commented on IPAR. KeyCorp set a $44.00 target price on shares of Inter Parfums and gave the company a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Friday, September 1st. BidaskClub upgraded shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Citigroup Inc. reiterated a “buy” rating and issued a $45.00 target price (up from $42.00) on shares of Inter Parfums in a research report on Thursday, August 10th. Finally, Sidoti cut shares of Inter Parfums from a “buy” rating to a “neutral” rating in a research report on Thursday, November 2nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Inter Parfums has a consensus rating of “Buy” and an average target price of $44.50.
Shares of Inter Parfums (IPAR) opened at $43.20 on Monday. The company has a market cap of $1,348.83, a PE ratio of 31.80, a PEG ratio of 2.73 and a beta of 1.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.39 and a quick ratio of 2.54. Inter Parfums has a 12-month low of $30.45 and a 12-month high of $46.80.
Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Inter Parfums in the first quarter valued at about $107,000. Acrospire Investment Management LLC grew its holdings in shares of Inter Parfums by 68.9% in the second quarter. Acrospire Investment Management LLC now owns 3,178 shares of the company’s stock valued at $116,000 after purchasing an additional 1,296 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Inter Parfums by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 3,380 shares of the company’s stock valued at $123,000 after purchasing an additional 1,490 shares during the period. Huntington National Bank grew its holdings in shares of Inter Parfums by 17.6% in the second quarter. Huntington National Bank now owns 3,569 shares of the company’s stock valued at $131,000 after purchasing an additional 535 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of Inter Parfums by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,097 shares of the company’s stock valued at $150,000 after purchasing an additional 614 shares during the period. 55.43% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Torres Robert Bensoussan sold 6,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $42.09, for a total value of $252,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Patrick Choel sold 750 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $41.59, for a total transaction of $31,192.50. The disclosure for this sale can be found here. Insiders sold 9,250 shares of company stock valued at $382,733 in the last three months. 45.40% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.17. Inter Parfums’s dividend payout ratio is currently 51.13%.
About Inter Parfums
Inter Parfums, Inc operates in the fragrance business. The Company manufactures, markets and distributes an array of fragrance and fragrance related products. It operates through two segments: European based operations and United States based operations. The European Operations segment produces and distributes its fragrance products under license agreements with brand owners.
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