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

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

International Flavors & Fragrances Price Performance

Shares of International Flavors & Fragrances stock traded up $3.39 during mid-day trading on Thursday, reaching $90.96. 3,453,837 shares of the stock traded hands, compared to its average volume of 1,670,608. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average of $102.63 and a 200 day moving average of $98.09. The stock has a market capitalization of $23.25 billion, a PE ratio of -9.75, a PEG ratio of 1.77 and a beta of 1.22. International Flavors & Fragrances has a fifty-two week low of $69.73 and a fifty-two week high of $106.77.

International Flavors & Fragrances Announces Dividend

The company also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances’s payout ratio is -17.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on IFF shares. Barclays raised their price target on International Flavors & Fragrances from $93.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Oppenheimer upped their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Vertical Research raised shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Thursday. Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Finally, UBS Group increased their price target on International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and a consensus price target of $108.27.

Read Our Latest Report on IFF

About International Flavors & Fragrances

(Get Free Report)

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.

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

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