Zacks Research Has Bearish Forecast for IFF FY2024 Earnings

International Flavors & Fragrances Inc. (NYSE:IFF) – Equities researchers at Zacks Research cut their FY2024 EPS estimates for shares of International Flavors & Fragrances in a research note issued to investors on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the specialty chemicals company will earn $4.06 per share for the year, down from their previous forecast of $4.09. The consensus estimate for International Flavors & Fragrances’ current full-year earnings is $4.17 per share. Zacks Research also issued estimates for International Flavors & Fragrances’ Q4 2024 earnings at $0.73 EPS, Q2 2025 earnings at $1.07 EPS, Q3 2025 earnings at $0.98 EPS and Q2 2026 earnings at $1.06 EPS.

International Flavors & Fragrances (NYSE:IFF) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.46). International Flavors & Fragrances had a positive return on equity of 7.16% and a negative net margin of 20.33%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.83 billion. During the same quarter in the previous year, the business posted $0.89 EPS. International Flavors & Fragrances’s revenue was up 3.7% on a year-over-year basis.

IFF has been the topic of a number of other research reports. Bank of America upgraded shares of International Flavors & Fragrances from a “neutral” rating to a “buy” rating and set a $107.00 target price on the stock in a research note on Friday, November 8th. Morgan Stanley upgraded shares of International Flavors & Fragrances from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $111.00 to $110.00 in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their price objective on shares of International Flavors & Fragrances from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on shares of International Flavors & Fragrances from $108.00 to $111.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Mizuho upgraded shares of International Flavors & Fragrances from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $109.00 to $120.00 in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, International Flavors & Fragrances currently has a consensus rating of “Moderate Buy” and an average target price of $109.27.

International Flavors & Fragrances Price Performance

NYSE IFF opened at $89.92 on Thursday. International Flavors & Fragrances has a 12 month low of $72.94 and a 12 month high of $106.77. The stock has a market cap of $22.99 billion, a price-to-earnings ratio of -9.89, a PEG ratio of 1.57 and a beta of 1.22. The company’s 50 day moving average is $99.58 and its two-hundred day moving average is $98.32. The company has a current ratio of 2.62, a quick ratio of 1.93 and a debt-to-equity ratio of 0.58.

International Flavors & Fragrances Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, December 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.78%. International Flavors & Fragrances’s dividend payout ratio is presently -17.60%.

Insiders Place Their Bets

In other news, insider Yuvraj Arora sold 5,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $91.75, for a total transaction of $458,750.00. Following the sale, the insider now owns 3,238 shares in the company, valued at approximately $297,086.50. The trade was a 60.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Flavors & Fragrances

A number of large investors have recently bought and sold shares of IFF. O Shaughnessy Asset Management LLC boosted its position in International Flavors & Fragrances by 43.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,298 shares of the specialty chemicals company’s stock valued at $800,000 after buying an additional 2,829 shares during the last quarter. Bessemer Group Inc. boosted its position in International Flavors & Fragrances by 13.0% in the 1st quarter. Bessemer Group Inc. now owns 2,746 shares of the specialty chemicals company’s stock worth $236,000 after purchasing an additional 315 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in International Flavors & Fragrances by 9.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 255,849 shares of the specialty chemicals company’s stock worth $22,002,000 after purchasing an additional 22,398 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in International Flavors & Fragrances in the 1st quarter worth approximately $56,000. Finally, OLD Mission Capital LLC purchased a new stake in International Flavors & Fragrances in the 1st quarter worth approximately $4,665,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

About International Flavors & Fragrances

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.