Research Analysts Set Expectations for International Flavors & Fragrances Inc.’s Q2 2024 Earnings (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFFFree Report) – Equities researchers at Zacks Research lifted their Q2 2024 EPS estimates for International Flavors & Fragrances in a research report issued on Monday, February 5th. Zacks Research analyst M. Das now expects that the specialty chemicals company will post earnings of $1.05 per share for the quarter, up from their prior forecast of $1.04. The consensus estimate for International Flavors & Fragrances’ current full-year earnings is $3.34 per share. Zacks Research also issued estimates for International Flavors & Fragrances’ Q3 2024 earnings at $0.98 EPS, FY2024 earnings at $3.94 EPS, Q2 2025 earnings at $1.08 EPS, Q3 2025 earnings at $1.06 EPS and FY2025 earnings at $4.31 EPS.

International Flavors & Fragrances (NYSE:IFFGet Free Report) last posted its quarterly earnings results on Monday, November 6th. The specialty chemicals company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.76 billion. International Flavors & Fragrances had a return on equity of 5.22% and a net margin of 0.40%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 EPS.

Other equities research analysts have also issued research reports about the company. Redburn Atlantic assumed coverage on International Flavors & Fragrances in a research report on Thursday, October 12th. They issued a “neutral” rating and a $60.00 target price on the stock. Morgan Stanley raised shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $81.00 to $90.00 in a research report on Monday, January 22nd. Jefferies Financial Group raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and boosted their price target for the stock from $73.00 to $112.00 in a research report on Friday, January 12th. Argus raised International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a report on Tuesday, November 28th. Finally, Wells Fargo & Company increased their price objective on shares of International Flavors & Fragrances from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, November 8th. One research 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, the stock presently has an average rating of “Hold” and an average target price of $80.71.

Read Our Latest Analysis on IFF

International Flavors & Fragrances Stock Performance

Shares of IFF stock opened at $82.34 on Thursday. The company’s 50 day moving average price is $79.69 and its two-hundred day moving average price is $73.49. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.04 and a current ratio of 1.74. International Flavors & Fragrances has a 52 week low of $62.11 and a 52 week high of $113.70. The company has a market capitalization of $21.02 billion, a P/E ratio of 457.44, a price-to-earnings-growth ratio of 5.16 and a beta of 1.23.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IFF. Winder Pte. Ltd. acquired a new position in shares of International Flavors & Fragrances during the third quarter worth $1,728,544,000. State Street Corp raised its position in International Flavors & Fragrances by 8.9% in the second quarter. State Street Corp now owns 14,567,213 shares of the specialty chemicals company’s stock valued at $1,171,031,000 after purchasing an additional 1,192,222 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Flavors & Fragrances by 59.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,772,700 shares of the specialty chemicals company’s stock valued at $814,890,000 after purchasing an additional 2,890,737 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of International Flavors & Fragrances by 1.2% during the second quarter. Capital Research Global Investors now owns 5,771,332 shares of the specialty chemicals company’s stock worth $459,340,000 after purchasing an additional 70,034 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in International Flavors & Fragrances by 16.3% in the 3rd quarter. Nordea Investment Management AB now owns 5,672,776 shares of the specialty chemicals company’s stock valued at $388,358,000 after buying an additional 795,797 shares during the last quarter. 89.52% of the stock is owned by institutional investors.

About International Flavors & Fragrances

(Get Free Report)

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in Europe, Africa, the Middle East, Greater Asia, North America, and Latin America. It operates through four segments: Nourish, Scent, Health & Biosciences, and Pharma Solutions.

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Earnings History and Estimates for International Flavors & Fragrances (NYSE:IFF)

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