Internationa Flavors & Fragrances, Inc. (IFF) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Internationa Flavors & Fragrances, Inc. (NYSE:IFF) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.05, Briefing.com reports. Internationa Flavors & Fragrances had a net margin of 12.72% and a return on equity of 26.75%. The business had revenue of $842.86 million during the quarter, compared to analyst estimates of $845.89 million. During the same quarter last year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year.
Shares of Internationa Flavors & Fragrances (NYSE:IFF) traded up 3.74% during trading on Wednesday, hitting $139.68. 1,016,974 shares of the stock were exchanged. The stock’s 50 day moving average price is $134.14 and its 200 day moving average price is $130.82. The stock has a market cap of $11.03 billion, a PE ratio of 27.78 and a beta of 1.11. Internationa Flavors & Fragrances has a one year low of $113.16 and a one year high of $143.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Stockholders of record on Monday, September 25th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Friday, September 22nd. This is a positive change from Internationa Flavors & Fragrances’s previous quarterly dividend of $0.64. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.98%. Internationa Flavors & Fragrances’s dividend payout ratio (DPR) is 50.89%.
IFF has been the subject of several recent research reports. Zacks Investment Research raised shares of Internationa Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Monday, May 1st. BidaskClub cut shares of Internationa Flavors & Fragrances from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Raymond James Financial, Inc. started coverage on shares of Internationa Flavors & Fragrances in a report on Friday, July 7th. They issued a “market perform” rating on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $136.00 target price (up previously from $129.00) on shares of Internationa Flavors & Fragrances in a report on Friday, June 16th. Finally, Vertical Group cut shares of Internationa Flavors & Fragrances from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Internationa Flavors & Fragrances presently has an average rating of “Hold” and a consensus price target of $139.22.
In related news, major shareholder Winder Investment Pte Ltd bought 40,000 shares of the company’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $132.44 per share, with a total value of $5,297,600.00. Following the completion of the transaction, the insider now directly owns 9,101,803 shares of the company’s stock, valued at $1,205,442,789.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Francisco Fortanet sold 300 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.36, for a total value of $40,308.00. Following the completion of the sale, the executive vice president now directly owns 19,994 shares in the company, valued at $2,686,393.84. The disclosure for this sale can be found here. Insiders acquired 1,236,598 shares of company stock worth $165,590,656 over the last ninety days. 0.48% of the stock is owned by corporate insiders.
About Internationa Flavors & Fragrances
International Flavors & Fragrances Inc creates, manufactures and supplies flavors and fragrances (including cosmetic active ingredients) used to impart or improve flavor or fragrance in a range of consumer products. The Company operates in two segments: Flavors and Fragrances. The Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food and sweet products.
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