Inter Parfums, Inc. (NASDAQ:IPAR) Increases Dividend to $0.80 Per Share

Inter Parfums, Inc. (NASDAQ:IPAR) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.80 per share on Friday, March 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, March 14th. This is a 6.7% increase from Inter Parfums’s previous quarterly dividend of $0.75.

Inter Parfums has raised its dividend by an average of 44.2% annually over the last three years. Inter Parfums has a payout ratio of 54.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Inter Parfums to earn $5.33 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 60.0%.

Inter Parfums Stock Performance

NASDAQ:IPAR opened at $128.87 on Wednesday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 27.65 and a beta of 1.18. The stock’s 50 day simple moving average is $135.99 and its two-hundred day simple moving average is $130.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.82 and a quick ratio of 1.60. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $148.15.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.05). The company had revenue of $361.50 million during the quarter, compared to the consensus estimate of $361.56 million. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. As a group, equities analysts anticipate that Inter Parfums will post 5.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IPAR has been the topic of several recent research reports. Piper Sandler upped their price objective on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. DA Davidson lifted their price target on Inter Parfums from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Monday, January 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Inter Parfums currently has a consensus rating of “Moderate Buy” and an average target price of $162.80.

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.