International Flavors & Fragrances (NYSE:IFF) Posts Earnings Results, Misses Expectations By $0.46 EPS

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

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock traded down $11.53 during midday trading on Wednesday, hitting $87.57. 5,080,659 shares of the company’s stock were exchanged, compared to its average volume of 1,662,209. The stock has a 50-day moving average price of $102.93 and a two-hundred day moving average price of $98.17. International Flavors & Fragrances has a 52-week low of $69.73 and a 52-week 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 company has a market cap of $22.39 billion, a P/E ratio of -9.61, a PEG ratio of 1.76 and a beta of 1.22.

International Flavors & Fragrances Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IFF. Wells Fargo & Company raised their target price on International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Citigroup lifted their price objective on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. UBS Group lifted their price objective on International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a research report on Wednesday. Oppenheimer lifted their price objective on International Flavors & Fragrances from $116.00 to $117.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus lifted their price objective on International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.