International Flavors & Fragrances Inc. to Issue Quarterly Dividend of $0.40 (NYSE:IFF)

International Flavors & Fragrances Inc. (NYSE:IFF) declared a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be given a dividend of 0.40 per share by the specialty chemicals company on Friday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, March 21st.

International Flavors & Fragrances has decreased its dividend payment by an average of 20.0% annually over the last three years. International Flavors & Fragrances has a payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Flavors & Fragrances to earn $4.67 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 34.3%.

International Flavors & Fragrances Trading Up 1.0 %

Shares of International Flavors & Fragrances stock traded up $0.83 during mid-day trading on Thursday, hitting $82.08. The stock had a trading volume of 1,003,608 shares, compared to its average volume of 1,466,626. The firm has a market cap of $20.99 billion, a P/E ratio of 87.32, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company has a quick ratio of 1.93, a current ratio of 1.84 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average of $83.98 and a two-hundred day moving average of $92.62. International Flavors & Fragrances has a 12-month low of $76.31 and a 12-month high of $106.77.

International Flavors & Fragrances (NYSE:IFF) last announced its quarterly earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. International Flavors & Fragrances had a net margin of 2.12% and a return on equity of 7.72%. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sell-side analysts forecast that International Flavors & Fragrances will post 4.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Cfra cut International Flavors & Fragrances from a “buy” rating to a “sell” rating and set a $77.00 target price for the company. in a report on Thursday, February 20th. Vertical Research upgraded shares of International Flavors & Fragrances from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a report on Thursday, November 7th. Oppenheimer dropped their price target on shares of International Flavors & Fragrances from $114.00 to $104.00 and set an “outperform” rating for the company in a research note on Thursday, February 20th. Argus upgraded International Flavors & Fragrances from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley upgraded International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $111.00 to $110.00 in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.50.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances, Inc engages in the manufacture and supply of flavors and fragrances used in the food, beverage, personal care, and household products industries. It operates through the following segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. The Nourish segment consists of legacy Taste segment combined with N&B’s Food & Beverage division and the food protection business of N&B’s Health & Biosciences division.