Allergan plc (NYSE:AGN) – William Blair lifted their FY2018 earnings per share (EPS) estimates for Allergan in a research note issued to investors on Wednesday, October 31st. William Blair analyst T. Lugo now forecasts that the company will post earnings of $16.34 per share for the year, up from their previous estimate of $16.23.
Allergan (NYSE:AGN) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $4.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.04 by $0.21. Allergan had a return on equity of 8.44% and a net margin of 14.50%. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the previous year, the business earned $4.15 earnings per share. The business’s revenue was down 3.0% on a year-over-year basis.
Several other equities analysts also recently commented on the company. Wells Fargo & Co restated a “buy” rating on shares of Allergan in a research report on Saturday, September 15th. Raymond James restated a “buy” rating and issued a $232.00 price objective (up from $211.00) on shares of Allergan in a research report on Monday, September 17th. Zacks Investment Research downgraded Allergan from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Cantor Fitzgerald restated a “hold” rating and issued a $180.00 price objective on shares of Allergan in a research report on Friday, September 14th. Finally, ValuEngine upgraded Allergan from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company. Allergan currently has an average rating of “Buy” and a consensus target price of $210.18.
Shares of Allergan stock opened at $165.47 on Monday. Allergan has a 52 week low of $142.81 and a 52 week high of $197.00. The stock has a market capitalization of $54.99 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.31. The company has a current ratio of 0.92, a quick ratio of 0.78 and a debt-to-equity ratio of 0.32.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 13th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.74%. Allergan’s dividend payout ratio is currently 17.61%.
In related news, Director Joseph H. Boccuzi acquired 900 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were acquired at an average cost of $190.59 per share, for a total transaction of $171,531.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Coughlin acquired 10,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The shares were bought at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Boltwood Capital Management raised its position in Allergan by 5.6% during the third quarter. Boltwood Capital Management now owns 5,081 shares of the company’s stock valued at $967,000 after purchasing an additional 270 shares during the period. Parkside Investments LLC raised its position in Allergan by 1.8% during the second quarter. Parkside Investments LLC now owns 15,845 shares of the company’s stock valued at $2,830,000 after purchasing an additional 275 shares during the period. Avestar Capital LLC raised its position in Allergan by 25.1% during the second quarter. Avestar Capital LLC now owns 1,483 shares of the company’s stock valued at $230,000 after purchasing an additional 298 shares during the period. New Jersey Better Educational Savings Trust raised its position in Allergan by 9.4% during the second quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the company’s stock valued at $584,000 after purchasing an additional 300 shares during the period. Finally, Parallel Advisors LLC raised its position in Allergan by 34.9% during the second quarter. Parallel Advisors LLC now owns 1,233 shares of the company’s stock valued at $205,000 after purchasing an additional 319 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.
Allergan Company Profile
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
Read More: Earnings Per Share (EPS) Explained
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