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

International Flavors & Fragrances Inc. (NYSE:IFF)’s share price fell 9.2% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $89.11 and last traded at $90.01. 1,145,528 shares were traded during mid-day trading, a decline of 30% from the average session volume of 1,643,906 shares. The stock had previously closed at $99.10.

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

International Flavors & Fragrances Dividend Announcement

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

Analyst Upgrades and Downgrades

IFF has been the topic of several recent research reports. Mizuho raised shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. UBS Group lowered their target price on shares of International Flavors & Fragrances from $107.00 to $103.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Oppenheimer increased their price objective on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Citigroup boosted their target price on International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Wells Fargo & Company lifted their price target on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $107.86.

Hedge Funds Weigh In On International Flavors & Fragrances

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pictet North America Advisors SA grew its holdings in shares of International Flavors & Fragrances by 3.1% during the 3rd 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 in the last quarter. Integrated Advisors Network LLC lifted its position in International Flavors & Fragrances by 1.9% in the third quarter. Integrated Advisors Network LLC now owns 5,720 shares of the specialty chemicals company’s stock worth $600,000 after purchasing an additional 107 shares during the period. CWM LLC increased its holdings in International Flavors & Fragrances by 1.7% in the 3rd 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 during the period. Summit Trail Advisors LLC raised its stake in shares of International Flavors & Fragrances by 5.0% in the 2nd quarter. Summit Trail Advisors LLC now owns 2,471 shares of the specialty chemicals company’s stock valued at $236,000 after buying an additional 117 shares in the last quarter. Finally, Orca Investment Management LLC boosted its position in shares of International Flavors & Fragrances by 0.6% during the 3rd 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 in the last quarter. 96.02% of the stock is currently owned by institutional investors.

International Flavors & Fragrances Stock Performance

The firm has a market cap of $22.70 billion, a P/E ratio of -10.75, a PEG ratio of 1.76 and a beta of 1.22. 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’s 50 day moving average is $102.93 and its two-hundred day moving average is $98.17.

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.