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

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

International Flavors & Fragrances Stock Up 3.9 %

IFF stock traded up $3.39 during midday trading on Thursday, hitting $90.96. The company’s stock had a trading volume of 3,453,837 shares, compared to its average volume of 1,670,608. The firm has a 50-day simple moving average of $102.63 and a 200-day simple moving average of $98.09. The firm has a market capitalization of $23.25 billion, a P/E ratio of -9.75, a PEG ratio of 1.77 and a beta of 1.22. The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. International Flavors & Fragrances has a 52-week low of $69.73 and a 52-week high of $106.77.

International Flavors & Fragrances Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances’s payout ratio is currently -17.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on IFF shares. UBS Group upped their target price on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday. Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Thursday. Barclays raised their price target on shares of 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 raised their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, Mizuho upgraded International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $109.00 to $120.00 in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, International Flavors & Fragrances has a consensus rating of “Moderate Buy” and a consensus price target of $108.27.

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.