International Flavors & Fragrances (NYSE:IFF) Releases Earnings Results

Key Points

• Quarterly EPS was $0.58, missing the $0.81 analyst consensus by $0.23, while revenue of $1.94 billion topped expectations of $1.91 billion.
• The company announced a quarterly dividend of $0.40 per share, equivalent to a 1.7% yield, and has authorized up to $2.5 billion in share repurchases.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $94.28.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) posted its quarterly earnings results on Tuesday. The specialty chemicals company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.23), FiscalAI reports. International Flavors & Fragrances had a net margin of 2.78% and a return on equity of 7.11%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.91 billion.

International Flavors & Fragrances Stock Performance

Shares of IFF traded down $2.63 during trading hours on Tuesday, reaching $92.00. 2,955,397 shares of the company traded hands, compared to its average volume of 1,850,504. The stock's fifty day moving average is $87.06 and its 200 day moving average is $78.65. The stock has a market cap of $23.47 billion, a P/E ratio of 84.41, a price-to-earnings-growth ratio of 3.89 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.72 and a current ratio of 2.06. International Flavors & Fragrances has a 1-year low of $61.29 and a 1-year high of $95.27.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Saturday, December 19th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.7%. International Flavors & Fragrances's payout ratio is presently 146.79%.

International Flavors & Fragrances declared that its board has initiated a stock repurchase program on Tuesday, August 4th that authorizes the company to buy back $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire up to 12.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IFF shares. Argus boosted their price target on International Flavors & Fragrances from $85.00 to $95.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th. Weiss Ratings upgraded International Flavors & Fragrances from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Wall Street Zen raised International Flavors & Fragrances from a "sell" rating to a "hold" rating in a research report on Sunday, October 25th. KeyCorp started coverage on International Flavors & Fragrances in a research note on Thursday, September 10th. They set a "sector weight" rating for the company. Finally, Citigroup lowered their target price on International Flavors & Fragrances from $101.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.28.

Insider Buying and Selling

In related news, insider De Mendonca Ana Paula Teles sold 5,718 shares of the business's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $83.19, for a total transaction of $475,680.42. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Deveau sold 8,825 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $85.55, for a total value of $754,978.75. Following the completion of the transaction, the executive vice president directly owned 5,199 shares of the company's stock, valued at approximately $444,774.45. This trade represents a 62.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,543 shares of company stock valued at $1,315,659 over the last three months. 1.07% of the stock is owned by corporate insiders.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc NYSE: IFF develops and manufactures ingredients, flavor systems, fragrances and specialty solutions used in consumer and industrial products. Its offerings support food and beverage manufacturers, fragrance and personal care companies, household-product makers, pharmaceutical businesses and other customers.

The company's portfolio includes flavors for beverages, dairy products, sweet goods, savory foods and other applications; fragrances for fine fragrance, personal care and home care products; and functional ingredients, enzymes, cultures, natural extracts and other specialty materials.

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