International Flavors & Fragrances (NYSE:IFF) Releases Quarterly Earnings Results, Misses Estimates By $0.46 EPS

International Flavors & Fragrances (NYSE:IFF) released its earnings results on Tuesday. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.46), RTT News reports. International Flavors & Fragrances had a positive return on equity of 6.63% and a negative net margin of 20.82%. The business had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter last year, the company posted $0.89 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Trading Down 11.6 %

Shares of NYSE IFF traded down $11.53 during midday trading on Wednesday, reaching $87.57. 5,081,134 shares of the stock were exchanged, compared to its average volume of 1,662,211. International Flavors & Fragrances has a twelve month low of $69.73 and a twelve month high of $106.77. The stock has a market capitalization of $22.39 billion, a P/E ratio of -9.61, a PEG ratio of 1.76 and a beta of 1.22. The company has a 50 day simple moving average of $102.93 and a 200 day simple moving average of $98.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.75 and a current ratio of 2.38.

International Flavors & Fragrances Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.83%. The ex-dividend date is Friday, December 20th. International Flavors & Fragrances’s dividend payout ratio is presently -17.35%.

Analyst Ratings Changes

IFF has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on International Flavors & Fragrances from $102.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. UBS Group increased their target price on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the stock a “neutral” rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of International Flavors & Fragrances from $115.00 to $121.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer increased their price target on International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Barclays boosted their target price on International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research note on Friday, October 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, International Flavors & Fragrances presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.43.

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.