Allergan (AGN) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Allergan (NYSE:AGN) posted its quarterly earnings results on Tuesday. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.20 by $0.03, Analyst Ratings Net reports. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Allergan updated its Q4 guidance to $1.31-1.33 EPS.
A number of analysts have recently weighed in on AGN shares. Analysts at JMP Securities reiterated an “outperform” rating on shares of Allergan in a research note to investors on Thursday, October 17th. On the ratings front, analysts at Credit Suisse initiated coverage on shares of Allergan in a research note to investors on Tuesday, October 8th. They set an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Allergan in a research note to investors on Monday, September 16th. They now have a $93.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $107.00.
Shares of Allergan (NYSE:AGN) opened at 93.38 on Tuesday. Allergan has a 1-year low of $81.33 and a 1-year high of $116.45. The stock has a 50-day moving average of $89.87 and a 200-day moving average of $99.37. The company has a market cap of $27.720 billion and a price-to-earnings ratio of 30.04.
In other Allergan news, Director Trevor Jones sold 2,000 shares of Allergan stock on the open market in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $90.14, for a total transaction of $180,280.00. Following the transaction, the director now directly owns 7,142 shares of the company’s stock, valued at approximately $643,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Allergan, Inc, is a multi-specialty health care company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products.
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