Jefferies Group Weighs in on Inter Parfums, Inc.’s FY2018 Earnings (IPAR)
Inter Parfums, Inc. (NASDAQ:IPAR) – Jefferies Group upped their FY2018 EPS estimates for Inter Parfums in a report issued on Thursday. Jefferies Group analyst S. Wissink now expects that the company will post earnings of $1.46 per share for the year, up from their previous forecast of $1.43. Jefferies Group also issued estimates for Inter Parfums’ Q1 2019 earnings at $0.55 EPS, Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.55 EPS and FY2019 earnings at $1.61 EPS.
Inter Parfums (NASDAQ:IPAR) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.05. Inter Parfums had a net margin of 7.13% and a return on equity of 8.06%. The firm had revenue of $169.50 million during the quarter, compared to analyst estimates of $160.52 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year.
Several other research firms have also commented on IPAR. KeyCorp set a $44.00 price target on shares of Inter Parfums and gave the company a “buy” rating in a research report on Monday, October 16th. Zacks Investment Research raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Friday, September 1st. DA Davidson reissued a “buy” rating and issued a $45.00 target price (up from $44.00) on shares of Inter Parfums in a report on Thursday, August 10th. BidaskClub raised shares of Inter Parfums from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $45.00 target price (up from $42.00) on shares of Inter Parfums in a report on Thursday, August 10th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Inter Parfums presently has an average rating of “Buy” and an average target price of $44.50.
Shares of Inter Parfums (IPAR) opened at $43.25 on Monday. Inter Parfums has a 52-week low of $30.45 and a 52-week high of $46.80. 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 quick ratio of 2.54 and a current ratio of 3.39.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be issued a dividend of $0.21 per share. This is a positive change from Inter Parfums’s previous quarterly dividend of $0.17. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, December 28th. Inter Parfums’s dividend payout ratio (DPR) is 51.13%.
In other Inter Parfums news, Director Patrick Choel sold 750 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $41.59, for a total transaction of $31,192.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Torres Robert Bensoussan sold 6,000 shares of the stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $42.09, for a total transaction of $252,540.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,250 shares of company stock valued at $382,733. Insiders own 45.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Nationwide Fund Advisors grew its holdings in Inter Parfums by 20.2% during the 2nd quarter. Nationwide Fund Advisors now owns 34,850 shares of the company’s stock valued at $1,277,000 after buying an additional 5,856 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Inter Parfums during the 2nd quarter valued at approximately $1,012,000. AHL Partners LLP bought a new position in shares of Inter Parfums during the 2nd quarter valued at approximately $242,000. Eagle Asset Management Inc. boosted its position in shares of Inter Parfums by 6.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 472,085 shares of the company’s stock valued at $17,301,000 after acquiring an additional 26,997 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of Inter Parfums by 20.4% during the 2nd quarter. Royce & Associates LP now owns 600,255 shares of the company’s stock valued at $21,999,000 after acquiring an additional 101,565 shares during the last quarter. 55.43% of the stock is owned by institutional investors and hedge funds.
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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