Inter Parfums, Inc. (NASDAQ:IPAR) Raises Dividend to $0.80 Per Share

Inter Parfums, Inc. (NASDAQ:IPAR) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.80 per share on Friday, March 28th. This represents a $3.20 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.75.

Inter Parfums has increased its dividend by an average of 44.2% annually over the last three years. Inter Parfums has a payout ratio of 51.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Inter Parfums to earn $5.33 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 56.3%.

Inter Parfums Stock Performance

Shares of Inter Parfums stock opened at $144.54 on Thursday. The company has a current ratio of 2.82, a quick ratio of 1.60 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $135.47 and a two-hundred day moving average price of $129.52. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $154.39. The company has a market cap of $4.63 billion, a P/E ratio of 31.02 and a beta of 1.20.

Inter Parfums (NASDAQ:IPAR) last issued its earnings results on Tuesday, February 25th. The company reported $0.82 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.05). Inter Parfums had a net margin of 10.60% and a return on equity of 16.34%. The firm had revenue of $361.50 million during the quarter, compared to analyst estimates of $361.56 million. As a group, analysts anticipate that Inter Parfums will post 5.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IPAR. Canaccord Genuity Group began coverage on shares of Inter Parfums in a research report on Thursday, January 16th. They issued a “buy” rating and a $158.00 price target on the stock. DA Davidson reaffirmed a “buy” rating and issued a $163.00 price target on shares of Inter Parfums in a research report on Thursday, January 23rd. Piper Sandler raised their price target on shares of Inter Parfums from $155.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, BWS Financial reissued a “buy” rating and set a $172.00 target price on shares of Inter Parfums in a research report on Monday, January 27th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.40.

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.