Inter Parfums (NASDAQ:IPAR) Sets New 52-Week Low After Earnings Miss

Inter Parfums, Inc. (NASDAQ:IPAR) hit a new 52-week low on Wednesday following a weaker than expected earnings announcement. The company traded as low as $114.81 and last traded at $115.72, with a volume of 67994 shares changing hands. The stock had previously closed at $123.27.

The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.29). The firm had revenue of $323.96 million during the quarter, compared to the consensus estimate of $324.00 million. Inter Parfums had a net margin of 11.59% and a return on equity of 17.62%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.68 earnings per share.

Inter Parfums Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Inter Parfums’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a yield of 2.53%. Inter Parfums’s dividend payout ratio (DPR) is currently 63.16%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on IPAR. DA Davidson restated a “buy” rating and issued a $192.00 price objective on shares of Inter Parfums in a report on Friday, April 26th. BWS Financial restated a “buy” rating and set a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, April 17th. Finally, Piper Sandler reduced their target price on Inter Parfums from $176.00 to $172.00 and set an “overweight” rating on the stock in a report on Thursday, April 25th.

Institutional Trading of Inter Parfums

A number of institutional investors have recently bought and sold shares of IPAR. ProShare Advisors LLC lifted its stake in shares of Inter Parfums by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 3,692 shares of the company’s stock valued at $519,000 after purchasing an additional 255 shares during the period. Illinois Municipal Retirement Fund increased its position in Inter Parfums by 5.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 14,164 shares of the company’s stock valued at $1,990,000 after buying an additional 754 shares in the last quarter. Empowered Funds LLC acquired a new position in Inter Parfums during the 1st quarter worth approximately $1,018,000. Quantbot Technologies LP grew its stake in Inter Parfums by 476.0% in the first quarter. Quantbot Technologies LP now owns 2,932 shares of the company’s stock valued at $412,000 after acquiring an additional 2,423 shares during the period. Finally, Texas Permanent School Fund Corp raised its position in shares of Inter Parfums by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 15,674 shares of the company’s stock worth $2,202,000 after purchasing an additional 203 shares during the period. Institutional investors own 55.57% of the company’s stock.

Inter Parfums Trading Down 3.9 %

The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.44 and a current ratio of 2.58. The business has a fifty day moving average of $131.38 and a 200-day moving average of $134.95. The company has a market capitalization of $3.79 billion, a P/E ratio of 24.94 and a beta of 1.19.

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.