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

Key Points

• International Flavors & Fragrances announced a quarterly dividend of $0.40 per share ( $1.60 annualized) payable April 10 to shareholders of record on March 20, implying a ~2.0% yield and a payout ratio around 35% which suggests the dividend is covered by earnings.
• IFF reported Q results with EPS of $0.80 (missed vs. $0.85 expected) while revenue was $2.59 billion (beat) but down 6.6% YoY; analysts hold a consensus "Moderate Buy" with an average target of $91.17 and several firms raising targets (up to $100).

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) announced a quarterly dividend on Wednesday, March 4th. Investors of record on Friday, March 20th will be paid a dividend of 0.40 per share by the specialty chemicals company on Friday, April 10th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, March 20th.

International Flavors & Fragrances has decreased its dividend by an average of 0.1%per year over the last three years. International Flavors & Fragrances has a payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Equities 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 1.2%

NYSE IFF opened at $78.23 on Thursday. The firm's 50 day moving average price is $73.90 and its two-hundred day moving average price is $67.92. The stock has a market cap of $19.99 billion, a price-to-earnings ratio of -57.10, a PEG ratio of 2.07 and a beta of 0.99. International Flavors & Fragrances has a twelve month low of $59.14 and a twelve month high of $84.45. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.85 and a current ratio of 1.42.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The business had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. The business's quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts anticipate that International Flavors & Fragrances will post 4.32 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on IFF. Wall Street Zen upgraded shares of International Flavors & Fragrances from a "sell" rating to a "hold" rating in a report on Sunday, January 4th. Mizuho boosted their price target on shares of International Flavors & Fragrances from $75.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, February 12th. Argus increased their price objective on International Flavors & Fragrances from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, January 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of International Flavors & Fragrances in a research note on Monday, December 29th. Finally, Wells Fargo & Company raised their price target on International Flavors & Fragrances from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, February 13th. Thirteen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $91.17.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc NYSE: IFF is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF's research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.

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