Inter Parfums (NASDAQ:IPAR) Updates FY 2023 Earnings Guidance

Inter Parfums (NASDAQ:IPARGet 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

Several research firms have recently commented on IPAR. TheStreet raised shares of Inter Parfums from a c+ rating to a b- rating in a research note on Monday, August 15th. StockNews.com began coverage on shares of Inter Parfums in a research note on Wednesday, October 12th. They issued a hold rating for the company. DA Davidson raised their price objective on shares of Inter Parfums from $98.00 to $104.00 and gave the company a buy rating in a research note on Tuesday. Finally, Piper Sandler raised their target price on shares of Inter Parfums to $108.00 in a report on Wednesday, November 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $109.00.

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

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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.

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Earnings History and Estimates for Inter Parfums (NASDAQ:IPAR)

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