Inter Parfums (NASDAQ:IPAR – Get Rating) issued an update on its FY 2023 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.70-$3.70 for the period, compared to the consensus earnings per share estimate of $3.52. The company issued revenue guidance of $1.11 billion-$1.11 billion, compared to the consensus revenue estimate of $1.11 billion.
Inter Parfums Trading Down 1.1 %
Shares of IPAR stock opened at $90.94 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.85 and a quick ratio of 1.71. The firm has a market cap of $2.90 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. The company has a 50-day moving average of $80.34 and a two-hundred day moving average of $77.60. Inter Parfums has a 1-year low of $64.52 and a 1-year high of $108.35.
Inter Parfums Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, December 15th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Wednesday, December 14th. Inter Parfums’s payout ratio is 62.11%.
Wall Street Analysts Forecast Growth
Insider Activity at Inter Parfums
In other Inter Parfums news, CFO Russell Greenberg sold 2,489 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $78.51, for a total transaction of $195,411.39. Following the sale, the chief financial officer now owns 7,500 shares of the company’s stock, valued at $588,825. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 44.20% of the stock is owned by corporate insiders.
Institutional Trading of Inter Parfums
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPAR. Tower Research Capital LLC TRC raised its holdings in Inter Parfums by 101.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,425 shares of the company’s stock worth $107,000 after purchasing an additional 716 shares in the last quarter. UBS Group AG increased its holdings in shares of Inter Parfums by 79.0% in the 3rd quarter. UBS Group AG now owns 2,400 shares of the company’s stock valued at $181,000 after acquiring an additional 1,059 shares during the period. Walleye Capital LLC acquired a new position in shares of Inter Parfums in the 2nd quarter valued at $205,000. Captrust Financial Advisors increased its holdings in shares of Inter Parfums by 7.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,557 shares of the company’s stock valued at $260,000 after acquiring an additional 258 shares during the period. Finally, Colony Group LLC acquired a new position in shares of Inter Parfums in the 2nd quarter valued at $265,000. Institutional investors and hedge funds own 55.58% 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. The company operates in two segments, European Based Operations and United States Based Operations. It offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lily Aldridge, Lanvin, Moncler, Montblanc, Rochas, S.T.
- Get a free copy of the StockNews.com research report on Inter Parfums (IPAR)
- Microsoft Shares: Is it Time to Back Up the Truck?
- Institutional Support for Analog Devices Remains High
- Is the 60/40 Portfolio Mix Still in Vogue?
- Three CBD Stocks to Dominate a Budding Industry
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
Receive News & Ratings for Inter Parfums Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inter Parfums and related companies with MarketBeat.com's FREE daily email newsletter.