Inter Parfums, Inc. (NASDAQ:IPAR) Announces Quarterly Dividend of $0.80

Inter Parfums, Inc. (NASDAQ:IPAR) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.80 per share on Friday, March 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Inter Parfums’s previous quarterly dividend of $0.75.

Inter Parfums has raised its dividend payment by an average of 44.2% per year over the last three years. Inter Parfums has a dividend payout ratio of 51.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Inter Parfums to earn $5.33 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 56.3%.

Inter Parfums Stock Up 4.5 %

Shares of NASDAQ:IPAR traded up $6.21 on Wednesday, hitting $145.27. 209,558 shares of the company’s stock were exchanged, compared to its average volume of 123,589. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.60 and a current ratio of 2.82. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $154.39. The company has a market capitalization of $4.65 billion, a PE ratio of 31.17 and a beta of 1.20. The firm’s 50-day moving average is $135.15 and its 200 day moving average is $129.41.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). The company had revenue of $361.50 million for the quarter, compared to analyst estimates of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. Sell-side analysts predict that Inter Parfums will post 5.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IPAR shares. Canaccord Genuity Group began 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. Piper Sandler increased their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. DA Davidson restated a “buy” rating and issued a $163.00 target price on shares of Inter Parfums in a research report on Thursday, January 23rd. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a report on Monday, January 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and an average target price of $159.40.

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.