DA Davidson Weighs in on Inter Parfums, Inc.’s FY2023 Earnings (NASDAQ:IPAR)

Inter Parfums, Inc. (NASDAQ:IPAR) – Research analysts at DA Davidson upped their FY2023 EPS estimates for shares of Inter Parfums in a report released on Thursday, November 9th. DA Davidson analyst L. Weiser now forecasts that the company will post earnings per share of $4.75 for the year, up from their previous estimate of $4.55. DA Davidson currently has a “Buy” rating and a $187.00 target price on the stock. The consensus estimate for Inter Parfums’ current full-year earnings is $4.75 per share. DA Davidson also issued estimates for Inter Parfums’ FY2024 earnings at $4.95 EPS.

IPAR has been the subject of several other research reports. StockNews.com initiated coverage on Inter Parfums in a research note on Thursday, October 5th. They set a “hold” rating for the company. Piper Sandler increased their price target on Inter Parfums from $170.00 to $174.00 in a research report on Tuesday, July 25th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $159.25.

Inter Parfums Stock Up 0.4 %

IPAR opened at $122.66 on Friday. Inter Parfums has a fifty-two week low of $83.30 and a fifty-two week high of $161.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.36 and a current ratio of 2.41. The company has a market capitalization of $3.92 billion, a P/E ratio of 24.78 and a beta of 1.07. The stock has a fifty day moving average of $130.86 and a 200-day moving average of $135.32.

Inter Parfums (NASDAQ:IPAR) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.39. Inter Parfums had a net margin of 12.22% and a return on equity of 19.63%. The company had revenue of $368.00 million during the quarter, compared to analysts’ expectations of $368.00 million. During the same period last year, the business earned $1.30 EPS. The business’s quarterly revenue was up 31.2% on a year-over-year basis.

Inter Parfums Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 31st. Stockholders of record on Friday, December 15th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.04%. Inter Parfums’s dividend payout ratio is currently 50.51%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Inter Parfums by 0.7% in the second quarter. BlackRock Inc. now owns 2,787,788 shares of the company’s stock worth $376,993,000 after buying an additional 19,420 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Inter Parfums by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,073,741 shares of the company’s stock worth $156,484,000 after acquiring an additional 43,380 shares during the last quarter. Morgan Stanley raised its position in Inter Parfums by 431.0% during the 4th quarter. Morgan Stanley now owns 1,018,907 shares of the company’s stock valued at $98,345,000 after purchasing an additional 827,032 shares in the last quarter. Copeland Capital Management LLC raised its position in Inter Parfums by 2.8% during the 2nd quarter. Copeland Capital Management LLC now owns 731,162 shares of the company’s stock valued at $98,875,000 after purchasing an additional 20,007 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Inter Parfums by 2.3% in the 2nd quarter. State Street Corp now owns 626,564 shares of the company’s stock valued at $84,730,000 after acquiring an additional 13,984 shares during the period. 55.18% of the stock is owned by institutional investors.

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. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.