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

International Flavors & Fragrances (NYSE:IFF) released its quarterly 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 business had revenue of $2.93 billion for the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 EPS. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Stock Performance

NYSE:IFF traded down $11.53 during mid-day trading on Wednesday, hitting $87.57. The company’s stock had a trading volume of 5,080,659 shares, compared to its average volume of 1,662,209. 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 current ratio of 2.38 and a quick ratio of 1.75. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 1.76 and a beta of 1.22. The business’s fifty day moving average is $102.93 and its two-hundred day moving average is $98.17.

International Flavors & Fragrances Announces Dividend

The firm 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. This represents a $1.60 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Friday, December 20th. International Flavors & Fragrances’s payout ratio is -17.35%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IFF. UBS Group increased their target price on International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays increased their target price on 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. JPMorgan Chase & Co. raised their price target on International Flavors & Fragrances from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Mizuho upgraded International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $109.00 to $120.00 in a research note on Tuesday, September 3rd. Finally, Citigroup raised their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.