Inter Parfums (NASDAQ:IPAR) Updates FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $5.15 for the period, compared to the consensus earnings per share estimate of $5.15. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.45 billion.

Analyst Ratings Changes

Several research firms have issued reports on IPAR. DA Davidson reiterated a buy rating and set a $192.00 target price on shares of Inter Parfums in a research report on Monday. Piper Sandler dropped their target price on Inter Parfums from $151.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. StockNews.com upgraded Inter Parfums from a sell rating to a hold rating in a research report on Saturday, June 8th. Jefferies Financial Group upgraded Inter Parfums from a hold rating to a buy rating and set a $140.00 target price on the stock in a research report on Friday, July 12th. Finally, BWS Financial reiterated a buy rating and set a $172.00 target price on shares of Inter Parfums in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $163.50.

Inter Parfums Price Performance

Shares of IPAR traded up $3.06 on Monday, reaching $127.00. The stock had a trading volume of 178,910 shares, compared to its average volume of 145,043. The firm has a market capitalization of $4.07 billion, a PE ratio of 29.26 and a beta of 1.18. The company has a quick ratio of 1.43, a current ratio of 2.75 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $118.34 and a 200 day moving average of $130.08. Inter Parfums has a twelve month low of $108.39 and a twelve month high of $156.75.

Inter Parfums (NASDAQ:IPAR) last announced its earnings results on Tuesday, May 7th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). The company had revenue of $323.96 million for the quarter, compared to analyst estimates of $324.00 million. Inter Parfums had a net margin of 10.50% and a return on equity of 15.85%. Inter Parfums’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.68 EPS. Sell-side analysts expect that Inter Parfums will post 5.15 EPS for the current year.

About Inter Parfums

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.