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

International Flavors & Fragrances Inc. (NYSE:IFF - Get Free Report) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, June 21st will be paid a dividend of 0.40 per share by the specialty chemicals company on Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Friday, June 21st.

International Flavors & Fragrances has increased its dividend by an average of 2.2% annually over the last three years. International Flavors & Fragrances has a dividend payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Flavors & Fragrances to earn $4.23 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 37.8%.

International Flavors & Fragrances Trading Up 3.4 %

Shares of IFF stock traded up $2.82 on Thursday, hitting $86.81. 2,140,453 shares of the company's stock traded hands, compared to its average volume of 2,097,261. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67. International Flavors & Fragrances has a one year low of $62.11 and a one year high of $97.49. The company's fifty day simple moving average is $82.34 and its 200 day simple moving average is $78.58. The stock has a market capitalization of $22.16 billion, a price-to-earnings ratio of -8.37, a P/E/G ratio of 1.90 and a beta of 1.21.

International Flavors & Fragrances (NYSE:IFF - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.03). The business had revenue of $2.70 billion for the quarter, compared to analysts' expectations of $2.70 billion. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The company's revenue was down 5.0% on a year-over-year basis. During the same period last year, the business earned $0.97 earnings per share. Equities analysts forecast that International Flavors & Fragrances will post 3.68 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on IFF shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. Barclays raised shares of International Flavors & Fragrances from an "underweight" rating to an "equal weight" rating in a research report on Thursday, April 18th. Mizuho increased their price target on shares of International Flavors & Fragrances from $83.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, March 20th. Stifel Nicolaus decreased their price target on shares of International Flavors & Fragrances from $87.00 to $80.00 and set a "hold" rating for the company in a research report on Wednesday, February 21st. Finally, Argus lowered shares of International Flavors & Fragrances from a "buy" rating to a "hold" rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $86.35.

International Flavors & Fragrances Company Profile

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.