Baxter International (NYSE:BAX) Issues FY24 Earnings Guidance

Baxter International (NYSE:BAX) updated its FY24 earnings guidance on Thursday. 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.

Baxter International Stock Performance

Baxter International stock traded down $0.02 during mid-day trading on Friday, reaching $36.89. The company’s stock had a trading volume of 6,246,789 shares, compared to its average volume of 3,358,723. The firm’s fifty day moving average price is $41.53 and its two-hundred day moving average price is $38.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48. Baxter International has a 12-month low of $31.01 and a 12-month high of $50.21. The company has a market capitalization of $18.73 billion, a P/E ratio of 7.09, a PEG ratio of 1.98 and a beta of 0.64.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. Sell-side analysts predict that Baxter International will post 2.9 EPS for the current fiscal year.

Baxter International Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Baxter International from $52.00 to $54.00 and gave the stock an overweight rating in a report on Monday, February 12th. Bank of America increased their price objective on Baxter International from $42.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, March 5th. StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their price target on Baxter International from $38.00 to $44.00 and gave the company a neutral rating in a report on Friday, February 9th. Finally, Citigroup boosted their price objective on Baxter International from $41.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Baxter International presently has an average rating of Hold and an average target price of $46.30.

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.