Inter Parfums (NASDAQ:IPAR) Updates FY24 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $5.15 for the period, compared to the consensus EPS estimate of $5.16. The company issued revenue guidance of $1.45 billion, compared to the consensus revenue estimate of $1.45 billion.

Inter Parfums Stock Down 1.1 %

Shares of Inter Parfums stock traded down $1.32 during midday trading on Monday, hitting $119.30. The company had a trading volume of 102,863 shares, compared to its average volume of 143,876. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $156.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.27 and a current ratio of 2.58. The stock has a market capitalization of $3.82 billion, a P/E ratio of 27.75 and a beta of 1.15. The company has a 50 day moving average of $122.97 and a 200 day moving average of $122.84.

Inter Parfums (NASDAQ:IPAR) last released its earnings results on Tuesday, August 6th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $342.00 million for the quarter, compared to analysts’ expectations of $342.00 million. Inter Parfums had a return on equity of 15.82% and a net margin of 10.38%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities analysts predict that Inter Parfums will post 5.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IPAR has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $151.00 target price (up previously from $150.00) on shares of Inter Parfums in a research note on Tuesday, July 23rd. 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 note on Friday, July 12th. DA Davidson restated a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research note on Friday, September 13th. BWS Financial reaffirmed a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Thursday, August 8th. Finally, StockNews.com raised Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Insider Activity

In related news, Director Veronique Gabai-Pinsky sold 1,500 shares of the company’s stock in a transaction on Monday, August 19th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 43.90% of the company’s stock.

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.