Allergan PLC to Post Q3 2016 Earnings of $3.55 Per Share, Leerink Swann Forecasts (AGN)
Allergan PLC (NYSE:AGN) – Research analysts at Leerink Swann dropped their Q3 2016 earnings per share estimates for Allergan PLC in a report issued on Friday. Leerink Swann analyst J. Gerberry now anticipates that the firm will post earnings per share of $3.55 for the quarter, down from their prior estimate of $3.57. Leerink Swann has a “Buy” rating and a $294.00 price target on the stock. Leerink Swann also issued estimates for Allergan PLC’s Q4 2016 earnings at $4.10 EPS and FY2016 earnings at $13.97 EPS.
AGN has been the topic of a number of other research reports. Mizuho lowered their target price on shares of Allergan PLC from $305.00 to $299.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Vetr raised shares of Allergan PLC from a “buy” rating to a “strong-buy” rating and set a $288.87 price objective for the company in a research report on Monday, August 22nd. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Allergan PLC in a research report on Tuesday, September 27th. Argus reaffirmed a “buy” rating and issued a $340.00 price objective on shares of Allergan PLC in a research report on Tuesday, October 4th. Finally, Bank of America Corp. set a $294.00 price objective on shares of Allergan PLC and gave the stock a “buy” rating in a research report on Tuesday, September 20th. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $302.23.
Allergan PLC (NYSE:AGN) opened at 227.94 on Monday. The firm has a 50-day moving average price of $237.35 and a 200-day moving average price of $237.14. Allergan PLC has a 12 month low of $195.50 and a 12 month high of $322.68. The company has a market capitalization of $90.25 billion, a price-to-earnings ratio of 21.70 and a beta of 0.81.
Allergan PLC (NYSE:AGN) last announced its quarterly earnings data on Monday, August 8th. The company reported $3.35 EPS for the quarter, beating the Zacks’ consensus estimate of $3.34 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $4.10 billion. Allergan PLC had a return on equity of 7.67% and a net margin of 28.06%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $4.41 EPS.
A number of hedge funds have recently modified their holdings of AGN. Cleararc Capital Inc. raised its stake in shares of Allergan PLC by 0.4% in the first quarter. Cleararc Capital Inc. now owns 8,945 shares of the company’s stock worth $2,398,000 after buying an additional 35 shares during the period. AXA raised its stake in shares of Allergan PLC by 1.8% in the first quarter. AXA now owns 291,760 shares of the company’s stock worth $78,201,000 after buying an additional 5,257 shares during the period. Yakira Capital Management Inc. acquired a new stake in shares of Allergan PLC during the first quarter worth about $7,237,000. Omni Partners LLP acquired a new stake in shares of Allergan PLC during the first quarter worth about $5,403,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Allergan PLC by 7.7% in the first quarter. UBS Asset Management Americas Inc. now owns 3,232,147 shares of the company’s stock worth $866,313,000 after buying an additional 231,603 shares during the period. Institutional investors own 85.20% of the company’s stock.
Allergan PLC Company Profile
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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