Allergan Inc. (AGN) Updates Q1 Earnings Guidance
Allergan Inc. (NYSE:AGN) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.09-1.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.21, Analyst Ratings Net reports. The company issued revenue guidance of $1.525-1.60 billion, compared to the consensus revenue estimate of $1.60 billion.Allergan also updated its FY14 guidance to $5.36-5.48 EPS.
Shares of Allergan Inc. (NYSE:AGN) traded up 0.17% during mid-day trading on Wednesday, hitting $114.88. The stock had a trading volume of 2,287,897 shares. Allergan Inc. has a 52 week low of $81.33 and a 52 week high of $123.83. The stock has a 50-day moving average of $112.9 and a 200-day moving average of $96.91. The company has a market cap of $34.138 billion and a price-to-earnings ratio of 34.77.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.12 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.34 by $0.22. The company had revenue of $1.66 million for the quarter, compared to the consensus estimate of $1.65 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts predict that Allergan Inc. will post $4.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 21st. Stockholders of record on Friday, February 28th will be paid a dividend of 0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.17%.
AGN has been the subject of a number of recent research reports. Analysts at Citigroup Inc. upgraded shares of Allergan from a neutral rating to a buy rating in a research note to investors on Tuesday. They now have a $130.00 price target on the stock, up previously from $95.00. On a related note, analysts at SunTrust upgraded shares of Allergan from a neutral rating to a buy rating in a research note to investors on Friday, January 17th. They now have a $150.00 price target on the stock, up previously from $94.00. Finally, analysts at Morgan Stanley reiterated an equal weight rating on shares of Allergan in a research note to investors on Wednesday, January 15th. They now have a $94.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $116.86.
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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