International Flavors & Fragrances (NYSE:IFF) Announces Quarterly Earnings Results

International Flavors & Fragrances (NYSE:IFF) posted its earnings results on Tuesday. The specialty chemicals company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.81 by $0.02, Zacks reports. International Flavors & Fragrances had a net margin of 1.97% and a return on equity of 6.72%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The business’s quarterly revenue was up 3.9% on a year-over-year basis.

International Flavors & Fragrances Stock Performance

IFF stock traded up $0.63 during mid-day trading on Thursday, reaching $88.30. 624,181 shares of the stock traded hands, compared to its average volume of 1,859,867. The firm has a market capitalization of $22.53 billion, a PE ratio of 124.36, a P/E/G ratio of 3.96 and a beta of 0.86. The business has a 50-day moving average of $87.19 and a two-hundred day moving average of $78.85. International Flavors & Fragrances has a 52 week low of $61.72 and a 52 week high of $95.27. The company has a quick ratio of 1.72, a current ratio of 2.06 and a debt-to-equity ratio of 0.34.

International Flavors & Fragrances Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Saturday, December 19th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, December 18th. International Flavors & Fragrances’s dividend payout ratio is 146.79%.

Analysts Set New Price Targets

IFF has been the subject of several recent analyst reports. Oppenheimer upped their price target on International Flavors & Fragrances from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. Weiss Ratings raised International Flavors & Fragrances from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 8th. Citigroup cut their price objective on International Flavors & Fragrances from $101.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. Benchmark boosted their target price on International Flavors & Fragrances from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Barclays upped their target price on International Flavors & Fragrances from $96.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $94.28.

International Flavors & Fragrances announced that its board has initiated a share buyback plan on Tuesday, August 4th that permits the company to repurchase $2.50 billion in shares. This buyback authorization permits the specialty chemicals company to repurchase up to 12.1% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at International Flavors & Fragrances

In related news, CAO Marc Birenkrant sold 1,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $85.00, for a total transaction of $85,000.00. Following the completion of the transaction, the chief accounting officer owned 3,446 shares of the company’s stock, valued at approximately $292,910. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider De Mendonca Ana Paula Teles sold 5,718 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $83.19, for a total value of $475,680.42. The disclosure for this sale is available in the SEC filing. Insiders own 1.07% of the company’s stock.

About International Flavors & Fragrances

International Flavors & Fragrances Inc (NYSE:IFF) develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company’s portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.