International Flavors & Fragrances Inc. (NYSE:IFF) to Issue Quarterly Dividend of $0.40

Key Points

• International Flavors & Fragrances Inc. declared a quarterly dividend of $0.40, translating to an annualized dividend of $1.60 and a yield of 2.23%, payable on October 10th to investors of record on September 29th.
• The company's current dividend payout ratio stands at 35.3%, indicating strong earnings support for future dividends, with expectations of $4.67 earnings per share next year.
• International Flavors & Fragrances experienced a stock price decline of $3.08 on the day of reporting, settling at $71.71, with institutional investors owning 96.02% of the shares.

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Investors of record on Monday, September 29th will be given a dividend of 0.40 per share by the specialty chemicals company on Friday, October 10th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, September 29th.

International Flavors & Fragrances has a payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Flavors & Fragrances to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 34.3%.

International Flavors & Fragrances Trading Down 2.2%

IFF stock traded down $1.56 during midday trading on Friday, hitting $69.47. 1,489,182 shares of the company's stock were exchanged, compared to its average volume of 1,557,884. The business has a 50-day simple moving average of $75.56 and a two-hundred day simple moving average of $78.00. The company has a current ratio of 1.87, a quick ratio of 1.39 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $17.77 billion, a PE ratio of -21.24, a P/E/G ratio of 3.14 and a beta of 1.04. International Flavors & Fragrances has a 1-year low of $65.85 and a 1-year high of $106.77.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The specialty chemicals company reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.08. International Flavors & Fragrances had a positive return on equity of 7.99% and a negative net margin of 7.31%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the previous year, the business earned $1.13 EPS. International Flavors & Fragrances's revenue for the quarter was down 1.9% on a year-over-year basis. On average, sell-side analysts predict that International Flavors & Fragrances will post 4.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Citigroup boosted their target price on International Flavors & Fragrances from $84.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company dropped their target price on International Flavors & Fragrances from $105.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Mizuho dropped their target price on International Flavors & Fragrances from $95.00 to $87.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Barclays upgraded International Flavors & Fragrances from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $76.00 to $84.00 in a research report on Thursday, May 8th. Finally, Morgan Stanley dropped their target price on International Flavors & Fragrances from $100.00 to $98.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, International Flavors & Fragrances presently has an average rating of "Moderate Buy" and a consensus target price of $93.43.

About International Flavors & Fragrances

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B's Food & Beverage division and the food protection business of N&B's Health & Biosciences division.