Baxter International (NYSE:BAX) Issues FY24 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.88-$2.98 for the period, compared to the consensus EPS estimate of $2.90. The company issued revenue guidance of $15.1 billion, compared to the consensus revenue estimate of $15.10 billion. Baxter International also updated its Q2 guidance to $0.65-$0.67 EPS.

Analysts Set New Price Targets

A number of research firms have recently commented on BAX. UBS Group dropped their target price on Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Citigroup boosted their price objective on Baxter International from $41.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. Bank of America boosted their price target on shares of Baxter International from $42.00 to $45.00 and gave the stock a neutral rating in a report on Tuesday, March 5th. Finally, Barclays increased their price objective on shares of Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a report on Monday, February 12th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $46.30.

Baxter International Trading Down 0.1 %

NYSE BAX traded down $0.02 during trading on Friday, hitting $36.89. The stock had a trading volume of 6,246,789 shares, compared to its average volume of 3,358,723. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $18.73 billion, a PE ratio of 7.09, a PEG ratio of 1.98 and a beta of 0.64. The firm has a 50 day moving average price of $41.53 and a 200 day moving average price of $38.75. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. Baxter International’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, equities research analysts forecast that Baxter International will post 2.9 earnings per share for the current year.

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. Baxter International’s dividend payout ratio is currently 22.31%.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.