West Pharmaceutical Services Inc. (NYSE:WST) announced a quarterly dividend on Friday, December 22nd, Zacks reports. Investors of record on Thursday, January 18th will be paid a dividend of 0.14 per share by the medical instruments supplier on Thursday, February 1st. This represents a $0.56 annualized dividend and a yield of 0.57%. The ex-dividend date is Wednesday, January 17th.
West Pharmaceutical Services has increased its dividend payment by an average of 8.9% per year over the last three years and has raised its dividend annually for the last 25 consecutive years. West Pharmaceutical Services has a payout ratio of 20.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect West Pharmaceutical Services to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 19.5%.
Shares of West Pharmaceutical Services (NYSE:WST) traded down $0.77 on Friday, reaching $98.59. 391,500 shares of the company traded hands, compared to its average volume of 334,908. West Pharmaceutical Services has a 1 year low of $77.97 and a 1 year high of $103.36. The stock has a market cap of $7,377.77, a P/E ratio of 39.28, a P/E/G ratio of 2.04 and a beta of 1.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.87 and a current ratio of 2.59.
West Pharmaceutical Services (NYSE:WST) last announced its earnings results on Thursday, October 26th. The medical instruments supplier reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.14. West Pharmaceutical Services had a net margin of 12.12% and a return on equity of 14.47%. The firm had revenue of $398.20 million for the quarter, compared to the consensus estimate of $386.02 million. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. research analysts predict that West Pharmaceutical Services will post 2.76 earnings per share for the current year.
WST has been the topic of several recent research reports. Bank of America downgraded shares of West Pharmaceutical Services from a “buy” rating to a “neutral” rating and set a $98.00 target price on the stock. in a research note on Tuesday, October 17th. Wells Fargo & Co increased their price objective on shares of West Pharmaceutical Services from $105.00 to $112.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. Zacks Investment Research raised shares of West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Stephens began coverage on shares of West Pharmaceutical Services in a research report on Tuesday, October 3rd. They issued an “equal weight” rating and a $99.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $106.00.
In other West Pharmaceutical Services news, CFO William J. Federici sold 21,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $99.01, for a total value of $2,079,210.00. Following the sale, the chief financial officer now directly owns 190,493 shares of the company’s stock, valued at approximately $18,860,711.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.90% of the company’s stock.
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About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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