International Flavors & Fragrances (NYSE:IFF) Shares Gap Up on Strong Earnings

International Flavors & Fragrances Inc. (NYSE:IFF)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $88.66, but opened at $92.60. International Flavors & Fragrances shares last traded at $93.87, with a volume of 468,954 shares changing hands.

The specialty chemicals company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. International Flavors & Fragrances had a negative net margin of 22.36% and a positive return on equity of 5.09%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same period in the prior year, the firm earned $0.87 EPS. The business’s revenue for the quarter was down 4.2% on a year-over-year basis.

International Flavors & Fragrances Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 21st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.65%. International Flavors & Fragrances’s dividend payout ratio (DPR) is presently -15.94%.

Analyst Ratings Changes

Several research analysts recently weighed in on IFF shares. Wolfe Research began coverage on International Flavors & Fragrances in a research report on Friday, March 1st. They set an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of International Flavors & Fragrances from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Citigroup lifted their price objective on shares of International Flavors & Fragrances from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group increased their target price on shares of International Flavors & Fragrances from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley lifted their price target on International Flavors & Fragrances from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $93.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its position in shares of International Flavors & Fragrances by 3,000.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 310 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 300 shares during the last quarter. Riverview Trust Co purchased a new position in International Flavors & Fragrances during the first quarter worth approximately $27,000. Quent Capital LLC boosted its stake in International Flavors & Fragrances by 183.2% during the first quarter. Quent Capital LLC now owns 371 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 240 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of International Flavors & Fragrances in the 4th quarter worth $41,000. Finally, Principal Securities Inc. purchased a new position in shares of International Flavors & Fragrances during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

The stock has a market cap of $24.82 billion, a price-to-earnings ratio of -9.68, a PEG ratio of 1.94 and a beta of 1.21. The firm’s 50-day moving average price is $83.72 and its two-hundred day moving average price is $79.43. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.02 and a current ratio of 1.67.

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.