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

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Wednesday, April 29th. Stockholders of record on Thursday, June 18th will be paid a dividend of 0.40 per share by the specialty chemicals company on Friday, July 10th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, June 18th.

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 $4.83 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 33.1%.

International Flavors & Fragrances Stock Up 1.9%

Shares of IFF traded up $1.30 during mid-day trading on Thursday, hitting $70.19. The company’s stock had a trading volume of 203,858 shares, compared to its average volume of 1,701,662. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The company’s 50-day moving average is $73.22 and its 200-day moving average is $69.94. International Flavors & Fragrances has a 52-week low of $59.14 and a 52-week high of $84.45. The firm has a market capitalization of $17.93 billion, a price-to-earnings ratio of -51.16, a PEG ratio of 1.92 and a beta of 1.02.

International Flavors & Fragrances (NYSE:IFF) last issued its earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a positive return on equity of 7.67% and a negative net margin of 3.20%.The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $0.97 earnings per share. International Flavors & Fragrances’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities research analysts forecast that International Flavors & Fragrances will post 4.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IFF. Barclays reduced their target price on shares of International Flavors & Fragrances from $91.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Bank of America raised their target price on shares of International Flavors & Fragrances from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Rothschild & Co Redburn raised their price target on shares of International Flavors & Fragrances from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. UBS Group decreased their price target on shares of International Flavors & Fragrances from $85.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of International Flavors & Fragrances from $75.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

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.