Inter Parfums, Inc. (NASDAQ:IPAR) Declares Quarterly Dividend of $0.80

Inter Parfums, Inc. (NASDAQ:IPAR) announced a quarterly dividend on Tuesday, May 6th, Wall Street Journal reports. Investors of record on Friday, June 13th will be given a dividend of 0.80 per share on Monday, June 30th. This represents a $3.20 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, June 13th.

Inter Parfums has increased its dividend payment by an average of 44.2% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Inter Parfums has a payout ratio of 54.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Inter Parfums to earn $5.33 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 60.0%.

Inter Parfums Trading Down 0.2 %

Shares of NASDAQ IPAR opened at $119.79 on Thursday. Inter Parfums has a 12-month low of $97.65 and a 12-month high of $148.15. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 25.71 and a beta of 1.33. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The stock’s 50 day simple moving average is $114.95 and its 200 day simple moving average is $126.89.

Inter Parfums (NASDAQ:IPAR) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.19. The company had revenue of $339.00 million during the quarter, compared to the consensus estimate of $329.21 million. Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Equities research analysts expect that Inter Parfums will post 5.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Inter Parfums from $158.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. BWS Financial reiterated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday. Piper Sandler restated an “overweight” rating and issued a $138.00 target price (down from $169.00) on shares of Inter Parfums in a research report on Thursday, April 24th. Finally, DA Davidson reiterated a “buy” rating and set a $170.00 price target on shares of Inter Parfums in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $157.60.

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.