International Flavors & Fragrances (NYSE:IFF) Trading Down 9.2% on Disappointing Earnings

International Flavors & Fragrances Inc. (NYSE:IFF) was down 9.2% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $89.11 and last traded at $90.01. Approximately 1,145,528 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 1,643,906 shares. The stock had previously closed at $99.10.

The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis.

International Flavors & Fragrances Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.80%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -17.35%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IFF shares. Stifel Nicolaus lifted their target price on International Flavors & Fragrances from $115.00 to $121.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer boosted their target price on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Barclays raised 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. Finally, Citigroup increased their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the company a “buy” rating in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

Institutional Investors Weigh In On International Flavors & Fragrances

Institutional investors and hedge funds have recently modified their holdings of the stock. Pictet North America Advisors SA raised its position in shares of International Flavors & Fragrances by 3.1% during the third quarter. Pictet North America Advisors SA now owns 3,275 shares of the specialty chemicals company’s stock worth $344,000 after purchasing an additional 99 shares during the period. Integrated Advisors Network LLC raised its holdings in International Flavors & Fragrances by 1.9% during the 3rd quarter. Integrated Advisors Network LLC now owns 5,720 shares of the specialty chemicals company’s stock worth $600,000 after buying an additional 107 shares during the period. CWM LLC lifted its stake in International Flavors & Fragrances by 1.7% during the third quarter. CWM LLC now owns 6,540 shares of the specialty chemicals company’s stock valued at $686,000 after buying an additional 109 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of International Flavors & Fragrances by 5.0% in the second quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company’s stock worth $236,000 after buying an additional 117 shares during the period. Finally, Orca Investment Management LLC raised its holdings in shares of International Flavors & Fragrances by 0.6% during the third quarter. Orca Investment Management LLC now owns 21,266 shares of the specialty chemicals company’s stock valued at $2,231,000 after acquiring an additional 122 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Trading Down 10.4 %

The company’s 50-day moving average is $102.93 and its 200 day moving average is $98.17. The company has a current ratio of 2.38, a quick ratio of 1.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $22.70 billion, a PE ratio of -10.75, a P/E/G ratio of 1.76 and a beta of 1.22.

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.