Allergan PLC. Forecasted to Earn Q3 2017 Earnings of $4.03 Per Share (AGN)
Allergan PLC. (NYSE:AGN) – Analysts at William Blair lowered their Q3 2017 earnings per share (EPS) estimates for shares of Allergan PLC. in a note issued to investors on Wednesday. William Blair analyst T. Lugo now anticipates that the company will earn $4.03 per share for the quarter, down from their previous estimate of $4.44. William Blair also issued estimates for Allergan PLC.’s Q4 2017 earnings at $4.84 EPS, FY2017 earnings at $16.24 EPS, FY2018 earnings at $17.37 EPS, FY2019 earnings at $18.90 EPS and FY2020 earnings at $20.60 EPS.
Allergan PLC. (NYSE:AGN) last released its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The business had revenue of $4.01 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the prior year, the firm posted $3.35 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year.
COPYRIGHT VIOLATION WARNING: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/10/07/allergan-plc-forecasted-to-earn-q3-2017-earnings-of-4-03-per-share-agn.html.
Other analysts also recently issued reports about the company. Mizuho reiterated a “buy” rating and set a $267.00 target price on shares of Allergan PLC. in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded Allergan PLC. from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a research report on Tuesday, July 11th. BidaskClub upgraded Allergan PLC. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Royal Bank Of Canada set a $284.00 target price on Allergan PLC. and gave the stock a “buy” rating in a research report on Monday, June 12th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $273.00 target price (up from $265.00) on shares of Allergan PLC. in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Allergan PLC. presently has a consensus rating of “Buy” and an average target price of $271.64.
Shares of Allergan PLC. (NYSE:AGN) opened at 206.75 on Friday. The firm has a 50-day moving average price of $218.50 and a 200 day moving average price of $233.15. Allergan PLC. has a 52-week low of $184.50 and a 52-week high of $256.80. The stock has a market cap of $69.12 billion, a price-to-earnings ratio of 6.30 and a beta of 1.15.
Institutional investors have recently added to or reduced their stakes in the stock. Honeywell International Inc. increased its stake in Allergan PLC. by 13.6% in the second quarter. Honeywell International Inc. now owns 168,130 shares of the company’s stock valued at $40,871,000 after purchasing an additional 20,100 shares during the last quarter. Israel Discount Bank of New York acquired a new position in Allergan PLC. in the first quarter valued at $988,000. Palladium Partners LLC increased its stake in Allergan PLC. by 1.7% in the second quarter. Palladium Partners LLC now owns 31,161 shares of the company’s stock valued at $7,575,000 after purchasing an additional 523 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Allergan PLC. in the second quarter valued at $41,345,000. Finally, Aviva PLC increased its stake in Allergan PLC. by 2.4% in the second quarter. Aviva PLC now owns 287,455 shares of the company’s stock valued at $69,892,000 after purchasing an additional 6,722 shares during the last quarter. Hedge funds and other institutional investors own 82.03% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were paid a $0.70 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 1.35%. Allergan PLC.’s payout ratio is currently 9.95%.
Allergan PLC. declared that its board has approved a stock buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
About Allergan PLC.
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.
Receive News & Stock Ratings for Allergan PLC. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan PLC. and related stocks with our FREE daily email newsletter.