Inter Parfums (NASDAQ:IPAR) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Inter Parfums (NASDAQ:IPAR) issued its quarterly earnings data on Wednesday. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10, Briefing.com reports. The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $425.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. Inter Parfums’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. Inter Parfums updated its FY24 guidance to $5.15 EPS.

Inter Parfums Trading Down 1.7 %

Shares of Inter Parfums stock traded down $2.18 on Thursday, hitting $125.88. 300,954 shares of the company’s stock traded hands, compared to its average volume of 144,367. The company has a fifty day moving average of $122.33 and a two-hundred day moving average of $122.41. Inter Parfums has a one year low of $108.39 and a one year high of $156.75. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 29.17 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.27.

Insiders Place Their Bets

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 43.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. BWS Financial reissued a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research note on Wednesday, October 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $151.00 target price (up from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. DA Davidson reiterated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group upgraded Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

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.