International Flavors & Fragrances Inc. (NYSE:IFF) Declares Quarterly Dividend of $0.40

International Flavors & Fragrances Inc. (NYSE:IFF) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, June 21st will be given a dividend of 0.40 per share by the specialty chemicals company on Wednesday, July 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, June 21st.

International Flavors & Fragrances has increased its dividend payment by an average of 2.2% per year over the last three years. International Flavors & Fragrances has a dividend payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Flavors & Fragrances to earn $4.23 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 37.8%.

International Flavors & Fragrances Trading Up 3.4 %

Shares of IFF stock traded up $2.82 on Thursday, hitting $86.81. The stock had a trading volume of 2,140,453 shares, compared to its average volume of 2,086,952. The company’s 50 day moving average price is $82.34 and its 200-day moving average price is $78.58. International Flavors & Fragrances has a 1 year low of $62.11 and a 1 year high of $97.49. The firm has a market capitalization of $22.16 billion, a P/E ratio of -8.37, a P/E/G ratio of 1.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 1.02.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.03). The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.70 billion. International Flavors & Fragrances had a positive return on equity of 5.09% and a negative net margin of 22.36%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.97 earnings per share. Analysts anticipate that International Flavors & Fragrances will post 3.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wolfe Research began coverage on shares of International Flavors & Fragrances in a research note on Friday, March 1st. They issued an “underperform” rating for the company. Wells Fargo & Company upped their price target on International Flavors & Fragrances from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Citigroup upgraded International Flavors & Fragrances from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $81.00 to $100.00 in a research note on Wednesday, April 10th. Mizuho raised their target price on shares of International Flavors & Fragrances from $83.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Finally, Morgan Stanley boosted their price target on shares of International Flavors & Fragrances from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.35.

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.