International Flavors & Fragrances (NYSE:IFF) Releases Quarterly Earnings Results

International Flavors & Fragrances (NYSE:IFF) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.46), RTT News reports. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Stock Performance

Shares of NYSE:IFF traded down $11.53 during trading hours on Wednesday, hitting $87.57. The stock had a trading volume of 5,081,134 shares, compared to its average volume of 1,662,211. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 1.76 and a beta of 1.22. International Flavors & Fragrances has a 1-year low of $69.73 and a 1-year high of $106.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38. The stock’s fifty day simple moving average is $102.93 and its 200 day simple moving average is $98.17.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.83%. International Flavors & Fragrances’s dividend payout ratio is presently -17.35%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IFF. Barclays upped their target price on shares of International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. Oppenheimer boosted their price target on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on shares of International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Stifel Nicolaus upped their price target on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, UBS Group raised their price target on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $108.43.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.