Brokerages Expect International Flavors & Fragrances Inc (IFF) Will Post Quarterly Sales of $1.31 Billion

Equities research analysts forecast that International Flavors & Fragrances Inc (NYSE:IFF) will report $1.31 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for International Flavors & Fragrances’ earnings. The highest sales estimate is $1.32 billion and the lowest is $1.30 billion. International Flavors & Fragrances posted sales of $920.02 million during the same quarter last year, which suggests a positive year-over-year growth rate of 42.4%. The firm is scheduled to announce its next earnings report on Tuesday, August 6th.

On average, analysts expect that International Flavors & Fragrances will report full year sales of $5.20 billion for the current fiscal year, with estimates ranging from $5.16 billion to $5.25 billion. For the next financial year, analysts forecast that the company will report sales of $5.43 billion, with estimates ranging from $5.32 billion to $5.47 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow International Flavors & Fragrances.

International Flavors & Fragrances (NYSE:IFF) last released its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.05. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. International Flavors & Fragrances had a return on equity of 12.74% and a net margin of 7.29%. The firm’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.79 earnings per share.

Several equities analysts have issued reports on IFF shares. Goldman Sachs Group upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and lifted their target price for the company from $137.00 to $151.00 in a research note on Thursday, March 21st. Citigroup cut their target price on International Flavors & Fragrances from $146.00 to $139.00 and set a “neutral” rating on the stock in a research note on Thursday, February 21st. Zacks Investment Research lowered International Flavors & Fragrances from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Barclays reiterated a “sell” rating on shares of International Flavors & Fragrances in a research note on Monday, February 18th. Finally, Seaport Global Securities started coverage on International Flavors & Fragrances in a research note on Thursday, February 21st. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $148.13.

IFF opened at $148.52 on Friday. International Flavors & Fragrances has a 1 year low of $121.85 and a 1 year high of $150.57. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.58 and a current ratio of 2.56. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 23.65 and a beta of 0.74.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 24th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.92 dividend on an annualized basis and a yield of 1.97%. International Flavors & Fragrances’s dividend payout ratio is currently 46.50%.

In other International Flavors & Fragrances news, insider Nicolas Mirzayantz sold 3,472 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $136.73, for a total value of $474,726.56. Following the completion of the transaction, the insider now directly owns 45,858 shares of the company’s stock, valued at $6,270,164.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of IFF. JOYN Advisors Inc. lifted its stake in International Flavors & Fragrances by 65.5% during the 4th quarter. JOYN Advisors Inc. now owns 187 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 74 shares in the last quarter. Lenox Wealth Management Inc. acquired a new stake in International Flavors & Fragrances in the 1st quarter valued at about $26,000. Fort L.P. raised its position in International Flavors & Fragrances by 365.3% in the 4th quarter. Fort L.P. now owns 228 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 179 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in International Flavors & Fragrances in the 1st quarter valued at about $34,000. Finally, Kaizen Advisory LLC raised its position in International Flavors & Fragrances by 50.3% in the 4th quarter. Kaizen Advisory LLC now owns 272 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 88.20% of the company’s stock.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Earnings History and Estimates for International Flavors & Fragrances (NYSE:IFF)

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