Inter Parfums, Inc. Declares Quarterly Dividend of $0.75 (NASDAQ:IPAR)

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.75 per share on Friday, June 28th. This represents a $3.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, June 14th.

Inter Parfums has increased its dividend payment by an average of 96.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Inter Parfums has a payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Inter Parfums to earn $5.75 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 52.2%.

Inter Parfums Stock Up 1.8 %

Shares of NASDAQ:IPAR traded up $2.11 on Thursday, reaching $120.59. The company had a trading volume of 210,234 shares, compared to its average volume of 145,017. The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.86 billion, a PE ratio of 25.39 and a beta of 1.19. Inter Parfums has a 52-week low of $114.71 and a 52-week high of $156.75. The firm's 50 day simple moving average is $131.38 and its 200-day simple moving average is $134.95.

Inter Parfums (NASDAQ:IPAR - Get Free Report) last posted its earnings results on Tuesday, May 7th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.29). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The company had revenue of $323.96 million during the quarter, compared to analysts' expectations of $324.00 million. During the same quarter last year, the firm earned $1.68 EPS. Inter Parfums's revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. DA Davidson reaffirmed a "buy" rating and set a $192.00 target price on shares of Inter Parfums in a research report on Thursday. Piper Sandler decreased their price objective on shares of Inter Parfums from $176.00 to $172.00 and set an "overweight" rating for the company in a research report on Thursday, April 25th. Finally, BWS Financial reiterated a "buy" rating and issued a $172.00 target price on shares of Inter Parfums in a research note on Wednesday, April 17th.

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.