Inter Parfums (NASDAQ:IPAR) Updates FY 2024 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 5.150-5.150 for the period, compared to the consensus estimate of 5.150. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion.

Inter Parfums Stock Down 1.5 %

Shares of NASDAQ IPAR opened at $141.32 on Wednesday. Inter Parfums has a 12-month low of $108.39 and a 12-month high of $156.75. The firm’s 50-day simple moving average is $134.84 and its 200 day simple moving average is $128.72. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 30.33 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The company had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. Inter Parfums’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.66 earnings per share. On average, research analysts expect that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on IPAR shares. DA Davidson reaffirmed a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a research note on Thursday, January 23rd. Piper Sandler raised their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. BWS Financial reissued a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Monday. Finally, Canaccord Genuity Group started coverage on shares of Inter Parfums in a research note on Thursday, January 16th. They issued a “buy” rating and a $158.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $159.40.

Insider Activity

In other Inter Parfums news, COO Pelayo Frederic Garcia sold 4,000 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.90% of the stock is currently owned by company insiders.

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.