Inter Parfums (NASDAQ:IPAR) Issues FY 2024 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 5.150-5.150 for the period, compared to the consensus EPS estimate of 5.150. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion. Inter Parfums also updated its FY24 guidance to $5.15 EPS.

Inter Parfums Price Performance

Shares of NASDAQ:IPAR opened at $119.30 on Tuesday. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $156.75. The business has a fifty day simple moving average of $122.82 and a 200 day simple moving average of $122.76. 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 cap of $3.82 billion, a price-to-earnings ratio of 27.49 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, beating the consensus estimate of $1.05 by $0.09. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The company had revenue of $342.00 million for the quarter, compared to analyst estimates of $342.00 million. During the same period last year, the company earned $1.09 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IPAR has been the topic of several research analyst reports. StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. BWS Financial reaffirmed a “buy” rating and issued a $172.00 price target on shares of Inter Parfums in a research report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $151.00 price target (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. DA Davidson reissued a “buy” rating and set a $163.00 target price on shares of Inter Parfums in a research report on Friday, September 13th. Finally, Jefferies Financial Group raised Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Inter Parfums has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Insiders Place Their Bets

In other Inter Parfums news, Director Veronique Gabai-Pinsky sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 43.90% of the company’s stock.

Inter Parfums Company Profile

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.