Inter Parfums (NASDAQ:IPAR) Updates FY 2024 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 5.150-5.150 for the period, compared to the consensus earnings per share estimate of 5.150. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion.

Inter Parfums Stock Down 1.5 %

IPAR stock opened at $141.32 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The firm has a fifty day moving average price of $134.84 and a two-hundred day moving average price of $128.72. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of 30.33 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $425.00 million during the quarter, compared to analyst estimates of $425.00 million. During the same quarter in the previous year, the firm earned $1.66 earnings per share. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts predict that Inter Parfums will post 5.15 EPS for the current year.

Analyst Upgrades and Downgrades

IPAR has been the subject of several research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Inter Parfums in a report on Thursday, January 23rd. Canaccord Genuity Group initiated coverage on shares of Inter Parfums in a report on Thursday, January 16th. They issued a “buy” rating and a $158.00 price target for the company. BWS Financial reiterated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a report on Monday. Finally, Piper Sandler raised their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Inter Parfums presently has an average rating of “Moderate Buy” and a consensus target price of $159.40.

Insiders Place Their Bets

In other news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $133.04, for a total value of $532,160.00. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 43.90% 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.