Inter Parfums, Inc. (NASDAQ:IPAR) Announces Dividend Increase - $0.80 Per Share

Inter Parfums, Inc. (NASDAQ:IPAR - Get Free Report) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Inter Parfums's previous quarterly dividend of $0.75.

Inter Parfums has raised its dividend by an average of 44.2% annually over the last three years. Inter Parfums has a dividend payout ratio of 51.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 1.0 %

IPAR stock traded down $1.37 during midday trading on Friday, hitting $138.92. The company's stock had a trading volume of 414,153 shares, compared to its average volume of 139,994. The firm has a 50-day simple moving average of $135.89 and a 200-day simple moving average of $129.69. The firm has a market capitalization of $4.45 billion, a P/E ratio of 29.81 and a beta of 1.20. The company has a quick ratio of 1.60, a current ratio of 2.82 and a debt-to-equity ratio of 0.14. Inter Parfums has a 52-week low of $108.39 and a 52-week high of $152.33.

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

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on IPAR shares. DA Davidson lifted their price objective on shares of Inter Parfums from $163.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday. Canaccord Genuity Group upped their price objective on Inter Parfums from $158.00 to $168.00 and gave the stock a "buy" rating in a research report on Thursday. BWS Financial reaffirmed a "buy" rating and issued a $172.00 price target on shares of Inter Parfums in a report on Monday, January 27th. Finally, Piper Sandler upped their target price on shares of Inter Parfums from $155.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.80.

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.