Research Analysts Set Expectations for International Flavors & Fragrances Inc.’s FY2023 Earnings (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFFGet Rating) – Jefferies Financial Group cut their FY2023 earnings per share estimates for shares of International Flavors & Fragrances in a report issued on Thursday, June 16th. Jefferies Financial Group analyst L. Alexander now anticipates that the specialty chemicals company will earn $6.10 per share for the year, down from their prior forecast of $6.45. Jefferies Financial Group has a “Hold” rating and a $101.00 price objective on the stock. The consensus estimate for International Flavors & Fragrances’ current full-year earnings is $5.76 per share.

Several other research analysts have also commented on IFF. StockNews.com upgraded shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating in a report on Wednesday, May 18th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of International Flavors & Fragrances from $165.00 to $145.00 in a research report on Thursday, May 12th. Berenberg Bank downgraded shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating and cut their price objective for the company from $165.00 to $144.00 in a research report on Thursday, March 24th. Wells Fargo & Company increased their price objective on shares of International Flavors & Fragrances from $145.00 to $150.00 in a research report on Wednesday, May 11th. Finally, Mizuho dropped their price target on shares of International Flavors & Fragrances from $147.00 to $145.00 in a report on Wednesday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $147.37.

IFF opened at $108.31 on Monday. The stock’s 50 day simple moving average is $125.92 and its 200 day simple moving average is $132.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 1.17. International Flavors & Fragrances has a 1 year low of $105.38 and a 1 year high of $157.08. The firm has a market cap of $27.60 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 1.84 and a beta of 1.02.

International Flavors & Fragrances (NYSE:IFFGet Rating) last announced its quarterly earnings data on Monday, May 9th. The specialty chemicals company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.31 by $0.38. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.09 billion. International Flavors & Fragrances had a return on equity of 6.89% and a net margin of 4.48%. The company’s revenue was up 30.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 6th. Shareholders of record on Friday, June 24th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 23rd. This represents a $3.16 dividend on an annualized basis and a yield of 2.92%. International Flavors & Fragrances’s dividend payout ratio is currently 144.95%.

In other International Flavors & Fragrances news, insider De Villeplee Christoph Fauchon sold 630 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $121.68, for a total value of $76,658.40. Following the transaction, the insider now directly owns 8,809 shares in the company, valued at approximately $1,071,879.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of International Flavors & Fragrances by 7.1% in the first quarter. Bank of America Corp DE now owns 1,495,462 shares of the specialty chemicals company’s stock valued at $196,401,000 after purchasing an additional 98,966 shares during the period. Verition Fund Management LLC purchased a new position in International Flavors & Fragrances during the first quarter worth approximately $413,000. Mirae Asset Global Investments Co. Ltd. boosted its position in International Flavors & Fragrances by 14.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,328 shares of the specialty chemicals company’s stock worth $7,660,000 after purchasing an additional 7,468 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in International Flavors & Fragrances by 4.4% during the first quarter. The Manufacturers Life Insurance Company now owns 214,391 shares of the specialty chemicals company’s stock worth $28,156,000 after purchasing an additional 9,001 shares in the last quarter. Finally, Toroso Investments LLC lifted its position in shares of International Flavors & Fragrances by 10.6% in the first quarter. Toroso Investments LLC now owns 3,382 shares of the specialty chemicals company’s stock valued at $444,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 90.67% of the company’s stock.

International Flavors & Fragrances Company Profile (Get Rating)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through Nourish, Scent, Health & Biosciences, and Pharma Solutions segments.

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Earnings History and Estimates for International Flavors & Fragrances (NYSE:IFF)

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