International Flavors & Fragrances (NYSE:IFF) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

International Flavors & Fragrances (NYSE:IFF) issued its quarterly earnings results on Tuesday. The specialty chemicals company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15, Briefing.com reports. International Flavors & Fragrances had a positive return on equity of 5.78% and a negative net margin of 22.01%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock traded up $1.87 during midday trading on Tuesday, reaching $96.48. 2,085,426 shares of the company were exchanged, compared to its average volume of 1,840,672. The company has a market capitalization of $24.64 billion, a price-to-earnings ratio of -9.88, a P/E/G ratio of 1.95 and a beta of 1.26. The firm’s 50-day simple moving average is $96.63 and its 200-day simple moving average is $88.72. International Flavors & Fragrances has a 1 year low of $62.11 and a 1 year high of $101.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.68.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Friday, September 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, September 20th. International Flavors & Fragrances’s dividend payout ratio is presently -16.38%.

Insider Buying and Selling

In related news, insider Angela Strzelecki sold 2,588 shares of International Flavors & Fragrances stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $95.66, for a total transaction of $247,568.08. Following the completion of the sale, the insider now owns 8,539 shares in the company, valued at approximately $816,840.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on International Flavors & Fragrances from $100.00 to $103.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 3rd. UBS Group increased their price target on International Flavors & Fragrances from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. Citigroup increased their price target on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Oppenheimer started coverage on International Flavors & Fragrances in a report on Friday, June 7th. They issued an “outperform” rating and a $116.00 target price for the company. Finally, Robert W. Baird raised their target price on International Flavors & Fragrances from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $98.33.

About International Flavors & Fragrances

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.