International Flavors & Fragrances (NYSE:IFF) Posts Quarterly Earnings Results, Misses Estimates By $0.25 EPS

International Flavors & Fragrances (NYSE:IFF) announced its quarterly earnings results on Tuesday. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.25), Zacks reports. International Flavors & Fragrances had a return on equity of 7.65% and a net margin of 7.78%.The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the firm earned $1.15 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis.

International Flavors & Fragrances Stock Up 0.5%

IFF stock traded up $0.37 during mid-day trading on Tuesday, hitting $80.95. 1,811,404 shares of the company were exchanged, compared to its average volume of 1,794,618. The firm has a fifty day simple moving average of $77.12 and a 200 day simple moving average of $75.11. International Flavors & Fragrances has a twelve month low of $59.14 and a twelve month high of $84.45. The company has a market capitalization of $20.67 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. The company has a current ratio of 1.49, a quick ratio of 0.87 and a debt-to-equity ratio of 0.33.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th. International Flavors & Fragrances’s dividend payout ratio (DPR) is currently 48.93%.

Analysts Set New Price Targets

IFF has been the subject of a number of recent research reports. Barclays boosted their price objective on International Flavors & Fragrances from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Citigroup reduced their price target on International Flavors & Fragrances from $96.00 to $88.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Benchmark started coverage on International Flavors & Fragrances in a report on Tuesday, June 9th. They set a “buy” rating and a $100.00 target price on the stock. Berenberg Bank boosted their target price on International Flavors & Fragrances from $83.00 to $84.80 and gave the company a “hold” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings raised International Flavors & Fragrances from a “sell (d)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and a consensus target price of $91.16.

Insider Activity at International Flavors & Fragrances

In related news, Director Paul J. Fribourg purchased 260,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $74.28 per share, for a total transaction of $19,312,800.00. Following the transaction, the director owned 2,682,730 shares of the company’s stock, valued at $199,273,184.40. This trade represents a 10.73% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.07% of the company’s stock.

Institutional Trading of International Flavors & Fragrances

Several hedge funds have recently added to or reduced their stakes in the business. MML Investors Services LLC grew its stake in International Flavors & Fragrances by 0.8% during the fourth quarter. MML Investors Services LLC now owns 17,249 shares of the specialty chemicals company’s stock worth $1,162,000 after buying an additional 140 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of International Flavors & Fragrances by 55.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 587 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. Sprott Inc. boosted its stake in International Flavors & Fragrances by 5.2% in the 4th quarter. Sprott Inc. now owns 6,305 shares of the specialty chemicals company’s stock valued at $425,000 after purchasing an additional 311 shares during the period. Quarry LP grew its position in International Flavors & Fragrances by 22.8% during the third quarter. Quarry LP now owns 1,848 shares of the specialty chemicals company’s stock worth $114,000 after buying an additional 343 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of International Flavors & Fragrances by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 80,035 shares of the specialty chemicals company’s stock worth $4,925,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

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.