International Flavors & Fragrances (NYSE:IFF) Trading Down 9.2% After Earnings Miss

Shares of International Flavors & Fragrances Inc. (NYSE:IFF) were down 9.2% during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $89.11 and last traded at $90.01. Approximately 1,145,528 shares changed hands during trading, a decline of 30% from the average daily volume of 1,643,906 shares. The stock had previously closed at $99.10.

The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.83 billion. International Flavors & Fragrances had a negative net margin of 20.82% and a positive return on equity of 6.63%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS.

International Flavors & Fragrances Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 annualized dividend and a yield of 1.83%. International Flavors & Fragrances’s payout ratio is currently -17.35%.

Wall Street Analyst Weigh In

IFF has been the subject of several recent analyst reports. UBS Group lifted their price target on International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup upped their price target on shares of International Flavors & Fragrances from $108.00 to $116.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Oppenheimer lifted their price target on shares of International Flavors & Fragrances from $116.00 to $117.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Mizuho raised International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $109.00 to $120.00 in a research report on Tuesday, September 3rd. Finally, Barclays boosted their price target on International Flavors & Fragrances from $93.00 to $99.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.43.

Institutional Trading of International Flavors & Fragrances

Several large investors have recently bought and sold shares of the company. Sei Investments Co. lifted its position in shares of International Flavors & Fragrances by 55.4% during the first quarter. Sei Investments Co. now owns 101,015 shares of the specialty chemicals company’s stock worth $8,686,000 after purchasing an additional 36,026 shares in the last quarter. Quantbot Technologies LP acquired a new position in International Flavors & Fragrances in the 1st quarter worth $1,115,000. Kimelman & Baird LLC purchased a new position in International Flavors & Fragrances in the 2nd quarter valued at about $868,000. GM Advisory Group LLC acquired a new stake in shares of International Flavors & Fragrances during the second quarter valued at about $686,000. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of International Flavors & Fragrances by 9.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 255,849 shares of the specialty chemicals company’s stock worth $22,002,000 after acquiring an additional 22,398 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

International Flavors & Fragrances Stock Performance

The company has a quick ratio of 1.75, a current ratio of 2.38 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $102.93 and a 200 day moving average of $98.17.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures and sells cosmetic active and natural health ingredients for use in various consumer products in the United States, Europe, and internationally. It operates through four segments: Nourish, Health & Biosciences, Scent, and Pharma Solutions.