Inter Parfums (NASDAQ:IPAR) Sets New 52-Week Low on Disappointing Earnings

Shares of Inter Parfums, Inc. (NASDAQ:IPAR) reached a new 52-week low during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $114.81 and last traded at $115.72, with a volume of 67994 shares changing hands. The stock had previously closed at $123.27.

The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm had revenue of $323.96 million for the quarter, compared to the consensus estimate of $324.00 million. During the same period last year, the company posted $1.68 EPS. The business’s revenue was up 3.9% compared to the same quarter last year.

Inter Parfums Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, June 14th. Inter Parfums’s dividend payout ratio (DPR) is 63.16%.

Analysts Set New Price Targets

IPAR has been the topic of several research analyst reports. Piper Sandler cut their target price on shares of Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a research note on Thursday, April 25th. DA Davidson restated a “buy” rating and issued a $192.00 target price on shares of Inter Parfums in a research note on Thursday. Finally, BWS Financial reaffirmed a “buy” rating and set a $172.00 price target on shares of Inter Parfums in a research note on Wednesday, April 17th.

Institutional Investors Weigh In On Inter Parfums

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James & Associates grew its holdings in shares of Inter Parfums by 2.2% in the third quarter. Raymond James & Associates now owns 102,298 shares of the company’s stock valued at $13,743,000 after acquiring an additional 2,236 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Inter Parfums by 13.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,905 shares of the company’s stock valued at $525,000 after purchasing an additional 478 shares during the period. Strs Ohio lifted its holdings in shares of Inter Parfums by 2.7% in the third quarter. Strs Ohio now owns 7,600 shares of the company’s stock worth $1,020,000 after buying an additional 200 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Inter Parfums during the 3rd quarter valued at $257,000. Finally, Inspire Investing LLC grew its position in Inter Parfums by 97.0% during the third quarter. Inspire Investing LLC now owns 4,608 shares of the company’s stock worth $619,000 after buying an additional 2,269 shares in the last quarter. 55.57% of the stock is owned by institutional investors.

Inter Parfums Price Performance

The company has a current ratio of 2.58, a quick ratio of 1.44 and a debt-to-equity ratio of 0.14. The business’s fifty day moving average price is $130.85 and its 200-day moving average price is $134.85. The company has a market capitalization of $3.86 billion, a P/E ratio of 25.39 and a beta of 1.19.

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.