Inter Parfums (NASDAQ:IPAR) Updates FY 2024 Earnings Guidance

Inter Parfums (NASDAQ:IPAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 5.150-5.150 for the period, compared to the consensus EPS estimate of 5.150. The company issued revenue guidance of $1.5 billion-$1.5 billion, compared to the consensus revenue estimate of $1.5 billion.

Inter Parfums Price Performance

Inter Parfums stock opened at $141.32 on Wednesday. The firm has a market capitalization of $4.53 billion, a P/E ratio of 30.33 and a beta of 1.20. Inter Parfums has a 1 year low of $108.39 and a 1 year high of $156.75. The business has a 50-day moving average of $134.84 and a 200-day moving average of $128.72. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14.

Inter Parfums (NASDAQ:IPAR) last posted its earnings results on Wednesday, November 6th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.10. Inter Parfums had a return on equity of 16.34% and a net margin of 10.60%. The company had revenue of $425.00 million during the quarter, compared to analyst estimates of $425.00 million. During the same period in the previous year, the company earned $1.66 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, equities analysts anticipate that Inter Parfums will post 5.15 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BWS Financial reiterated a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Monday. Canaccord Genuity Group began coverage on Inter Parfums in a research report on Thursday, January 16th. They set a “buy” rating and a $158.00 price target for the company. DA Davidson reaffirmed a “buy” rating and set a $163.00 price target on shares of Inter Parfums in a research report on Thursday, January 23rd. Finally, Piper Sandler upped their price target on Inter Parfums from $155.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.40.

Insider Activity at Inter Parfums

In related news, COO Pelayo Frederic Garcia sold 4,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $133.04, for a total value of $532,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.90% of the stock is owned by company insiders.

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.