Actavis Inc. (ACT) Updates FY14 Earnings Guidance
Actavis Inc. (NYSE:ACT) updated its FY14 earnings guidance on Friday. The company provided earnings per share guidance of $12.60-13.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $12.87, Stock Ratings Network.com reports. The company issued revenue guidance of above $10 billion, compared to the consensus revenue estimate of $10.48 billion.
Several analysts have recently commented on the stock. Analysts at Piper Jaffray raised their price target on shares of Actavis from $175.00 to $203.00 in a research note to investors on Tuesday. They now have an overweight rating on the stock. On a related note, analysts at Argus raised their price target on shares of Actavis from $180.00 to $198.00 in a research note to investors on Friday, January 17th. They now have a buy rating on the stock. Finally, analysts at Cowen and Company upgraded shares of Actavis from a market perform rating to an outperform rating in a research note to investors on Friday, January 10th. They now have a $215.00 price target on the stock, up previously from $130.00. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Actavis presently has a consensus rating of Buy and a consensus target price of $165.42.
Shares of Actavis Inc. (NYSE:ACT) traded up 0.21% during mid-day trading on Friday, hitting $187.08. The stock had a trading volume of 811,856 shares. Actavis Inc. has a 1-year low of $82.02 and a 1-year high of $189.78. The stock’s 50-day moving average is $173.2 and its 200-day moving average is $151.0. The company’s market cap is $32.552 billion.
Actavis, Inc formerly Watson Pharmaceuticals, Inc, is a integrated global specialty pharmaceutical company engaged in the development, manufacturing, marketing, sale and distribution of generic, branded generic, brand, biosimilar and over-the-counter (NYSE:ACT) pharmaceutical products.
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