International Flavors & Fragrances (NYSE:IFF) Posts Quarterly Earnings Results, Beats Estimates By $0.27 EPS

International Flavors & Fragrances (NYSE:IFF - Get Free Report) posted its earnings results on Monday. The specialty chemicals company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.27, Briefing.com reports. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The company had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.78 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. International Flavors & Fragrances's revenue for the quarter was down 4.2% compared to the same quarter last year. International Flavors & Fragrances updated its FY 2024 guidance to EPS.

International Flavors & Fragrances Price Performance

International Flavors & Fragrances stock traded up $5.75 during trading on Tuesday, reaching $94.41. The company had a trading volume of 4,635,216 shares, compared to its average volume of 2,123,766. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67. The firm's 50-day simple moving average is $82.84 and its 200 day simple moving average is $79.10. The firm has a market capitalization of $24.10 billion, a PE ratio of -9.40, a price-to-earnings-growth ratio of 1.94 and a beta of 1.21. International Flavors & Fragrances has a 1-year low of $62.11 and a 1-year high of $97.49.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, June 21st. International Flavors & Fragrances's payout ratio is -15.94%.

Wall Street Analysts Forecast Growth

IFF has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of International Flavors & Fragrances from a "hold" rating to a "buy" rating and increased their target price for the company from $73.00 to $112.00 in a research report on Friday, January 12th. Wells Fargo & Company upped their price target on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, April 4th. Morgan Stanley upped their price target on shares of International Flavors & Fragrances from $89.00 to $96.00 and gave the company an "overweight" rating in a research note on Wednesday, March 27th. Wolfe Research started coverage on shares of International Flavors & Fragrances in a research note on Friday, March 1st. They issued an "underperform" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, International Flavors & Fragrances has a consensus rating of "Hold" and an average target price of $87.65.

About International Flavors & Fragrances

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.