Inter Parfums (NASDAQ:IPAR) Releases FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $5.15 for the period, compared to the consensus estimate of $5.16. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.45 billion. Inter Parfums also updated its FY 2024 guidance to 5.150-5.150 EPS.

Wall Street Analysts Forecast Growth

IPAR has been the subject of several recent analyst reports. DA Davidson restated a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a research report on Tuesday. Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Friday, July 12th. Piper Sandler reaffirmed an “overweight” rating and set a $151.00 price target (up from $150.00) on shares of Inter Parfums in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, BWS Financial restated a “buy” rating and issued a $172.00 target price on shares of Inter Parfums in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Inter Parfums currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Inter Parfums Stock Performance

Shares of IPAR stock opened at $121.25 on Thursday. The business’s 50-day moving average price is $122.63 and its 200-day moving average price is $122.67. Inter Parfums has a 12 month low of $108.39 and a 12 month high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 27.94 and a beta of 1.15.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Tuesday, August 6th. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $342.00 million for the quarter, compared to analyst estimates of $342.00 million. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.09 EPS. Equities research analysts forecast that Inter Parfums will post 5.15 EPS for the current year.

Insider Buying and Selling at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $125.96, for a total value of $188,940.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 43.90% of the company’s stock.

About Inter Parfums

Inter Parfums, Inc, together with its subsidiaries, manufactures, markets, and distributes a range of fragrances and fragrance related products in the United States and internationally. It operates in two segments, European Based Operations and United States Based Operations. The company offers its fragrance and cosmetic products under the Boucheron, Coach, Jimmy Choo, Karl Lagerfeld, Kate Spade, Lanvin, Moncler, Montblanc, Rochas, S.T.