Inter Parfums (NASDAQ:IPAR) Hits New 12-Month Low on Disappointing Earnings

Inter Parfums, Inc. (NASDAQ:IPAR)’s stock price reached a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $114.81 and last traded at $115.72, with a volume of 67994 shares trading hands. The stock had previously closed at $123.27.

The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.29). The company had revenue of $323.96 million for the quarter, compared to analysts’ expectations of $324.00 million. Inter Parfums had a return on equity of 17.62% and a net margin of 11.59%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 EPS.

Inter Parfums Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.53%. This is a boost from Inter Parfums’s previous quarterly dividend of $0.63. The ex-dividend date was Thursday, March 14th. Inter Parfums’s payout ratio is presently 63.16%.

Analyst Ratings Changes

Several analysts have commented on IPAR shares. DA Davidson restated a “buy” rating and set a $192.00 price objective on shares of Inter Parfums in a research note on Friday, April 26th. Piper Sandler decreased their price objective on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating for the company in a research note on Thursday, April 25th. Finally, BWS Financial restated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, April 17th.

Hedge Funds Weigh In On Inter Parfums

Large investors have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Inter Parfums in the 4th quarter valued at $27,000. Principal Securities Inc. acquired a new position in shares of Inter Parfums in the 4th quarter valued at $30,000. Whittier Trust Co. acquired a new position in shares of Inter Parfums in the 1st quarter valued at $31,000. Signaturefd LLC lifted its stake in shares of Inter Parfums by 87.4% in the 4th quarter. Signaturefd LLC now owns 223 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Inter Parfums during the fourth quarter worth $33,000. 55.57% of the stock is currently owned by institutional investors and hedge funds.

Inter Parfums Price Performance

The company has a quick ratio of 1.44, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $131.38 and its two-hundred day simple moving average is $134.95. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 24.94 and a beta of 1.19.

Inter Parfums Company Profile

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.