International Flavors & Fragrances Inc.
) scaled a new 52-week high of $101.73 during its trading session
on Jun 9. The new 52-week high improved upon the last one of
$100.93 hit on May 8.
International Flavors & Fragrances closed the session at
$101.73, reflecting a solid year-to-date return of 27.3%. The
trading volume for the session was 3.2 million shares. Positive
revision in the 2014 earnings estimate as well as an expected
earnings growth rate of 8.7% for the next five years indicates
further upward potential for this flavors and fragrances
Share price of International Flavors & Fragrances has climbed
3.7% since the company reported first-quarter 2014 results on May
6. Adjusted earnings grew 11% year over year to $1.32 per share,
surpassing the Zacks Consensus Estimate of $1.25 by 5.6%.
Revenues increased 6% or 7% on a constant currency basis. The
top-line growth was driven by solid performance in the emerging
markets. The acquisition of Aromor added 1% to sales growth.
Margins benefited from cost reduction and manufacturing
For 2014, management anticipates revenues and earnings per share to
grow in the double-digit range. Aromor is expected to add 1% to
local currency sales growth and be accretive to earnings.
The stellar quarter performance and a robust outlook coupled with a
positive average earnings surprise of 1.7% have made us optimistic
about International Flavors & Fragrances' performance in the
coming quarters. The company has an
of +0.79% for 2014 and +1.64% for 2015.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for
International Flavors & Fragrances has increased by 1.6% to
$4.96 for 2014 and by 1.3% to $5.50 for 2015. The Zacks Consensus
Estimate also depicts year-over-year growth rates of 13.1% for 2014
and 9.1% for 2015.
International Flavors & Fragrances has a market capitalization
of $5.2 billion and carries a Zacks Rank #2 (Buy). Other stocks
worth considering in the industry include
NL Industries Inc.
Sensient Technologies Corporation
). All these stocks carry the same Zacks Rank as International
Flavors & Fragrances.
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