Inter Parfums (NASDAQ:IPAR) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Inter Parfums (NASDAQ:IPAR) posted its earnings results on Wednesday. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.10, Briefing.com reports. Inter Parfums had a net margin of 10.38% and a return on equity of 15.82%. The company had revenue of $425.00 million during the quarter, compared to analysts’ expectations of $425.00 million. During the same period last year, the company posted $1.66 earnings per share. Inter Parfums’s quarterly revenue was up 15.5% on a year-over-year basis. Inter Parfums updated its FY24 guidance to $5.15 EPS.

Inter Parfums Trading Down 2.5 %

NASDAQ IPAR traded down $3.14 during trading hours on Thursday, reaching $124.92. The company had a trading volume of 219,008 shares, compared to its average volume of 143,988. The stock has a 50-day moving average of $122.33 and a 200 day moving average of $122.41. Inter Parfums has a 1-year low of $108.39 and a 1-year high of $156.75. The company has a current ratio of 2.58, a quick ratio of 1.27 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4.00 billion, a P/E ratio of 29.17 and a beta of 1.16.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group raised shares of Inter Parfums from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Friday, July 12th. DA Davidson reiterated a “buy” rating and set a $163.00 price objective on shares of Inter Parfums in a report on Tuesday, October 22nd. StockNews.com raised shares of Inter Parfums from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and set a $151.00 target price (up previously from $150.00) on shares of Inter Parfums in a research report on Tuesday, July 23rd. Finally, BWS Financial reaffirmed a “buy” rating and issued a $172.00 price objective on shares of Inter Parfums in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Insider Buying and Selling at Inter Parfums

In other news, Director Veronique Gabai-Pinsky sold 1,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $125.96, for a total transaction of $188,940.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 43.90% of the stock is currently owned by corporate 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.