International Flavors & Fragrances Inc. Announces Quarterly Dividend of $0.40 (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFF) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Friday, September 18th will be given a dividend of 0.40 per share by the specialty chemicals company on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 18th.

International Flavors & Fragrances has decreased its dividend by an average of 0.1%per year over the last three years. International Flavors & Fragrances has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Flavors & Fragrances to earn $4.89 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 32.7%.

International Flavors & Fragrances Price Performance

IFF traded down $0.68 on Wednesday, hitting $78.58. 33,034 shares of the stock were exchanged, compared to its average volume of 1,852,337. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.49 and a quick ratio of 0.87. The firm has a market capitalization of $20.06 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 1.91 and a beta of 0.93. The business has a 50-day moving average of $76.75 and a two-hundred day moving average of $74.81. International Flavors & Fragrances has a 12 month low of $59.14 and a 12 month high of $84.45.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings data on Tuesday, May 5th. The specialty chemicals company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.17. International Flavors & Fragrances had a net margin of 7.78% and a return on equity of 7.65%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. Sell-side analysts forecast that International Flavors & Fragrances will post 4.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on IFF. JPMorgan Chase & Co. lifted their price target on shares of International Flavors & Fragrances from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Berenberg Bank lifted their price target on shares of International Flavors & Fragrances from $83.00 to $84.80 and gave the stock a “hold” rating in a report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on International Flavors & Fragrances from $95.00 to $90.00 and set a “buy” rating for the company in a report on Monday, June 1st. Morgan Stanley upped their price target on International Flavors & Fragrances from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Finally, UBS Group raised their price objective on International Flavors & Fragrances from $75.00 to $86.00 in a research report on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, International Flavors & Fragrances presently has an average rating of “Moderate Buy” and an average price target of $91.16.

About International Flavors & Fragrances

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.