International Flavors & Fragrances Inc (IFF) reported quarterly earnings results on Monday, Aug-8-2016. The company said it had a profit of $1.47 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.07. Analysts had a consensus of $1.40. The company posted revenue of $793.48 million in the period, compared to analysts expectations of $786.18 million. The company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.
Many Wall Street Analysts have commented on International Flavors & Fragrances Inc. International Flavors & Fragrances Inc was Initiated by Berenberg to “Buy” on Jul 20, 2016. Company shares were Reiterated by Deutsche Bank on May 11, 2016 to “Hold”, Firm has raised the Price Target to $ 124 from a previous price target of $115 .
International Flavors & Fragrances Inc closed down -1.75 points or -1.29% at $134.01 with 6,37,169 shares getting traded on Friday. Post opening the session at $136.04, the shares hit an intraday low of $132.64 and an intraday high of $136.16 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jul 19, 2016, Nicolas Mirzayantz (Group President Fragrance) sold 3,880 shares at $132.11 per share price. According to the SEC, on Oct 22, 2015, Francisco Fortanet (EVP, Operations) sold 1,150 shares at $113.42 per share price. On Oct 14, 2015, Ahmet Baydar (EVP, Research & Development) sold 1,700 shares at $109.31 per share price, according to the Form-4 filing with the securities and exchange commission.
International Flavors & Fragrances Inc. (IFF) creates manufactures and supplies flavors and fragrances for the food beverage personal care and household products industries either in the form of compounds or individual ingredients. The company operates in two segments: Flavors and Fragrances. Flavors segment offers flavor compounds that are sold to the food and beverage industries for use in consumer products such as prepared foods beverages dairy food and sweet products. Fragrances segment offers fragrance compounds including fine and fragrance ingredients. The Company’s products are sold principally to manufacturers of perfumes and cosmetics hair and other personal care products soaps and detergents cleaning products dairy meat and other processed foods beverages snacks and savory foods sweet and baked goods and pharmaceutical and oral care products.