Allergan Given Consensus Recommendation of “Buy” by Brokerages (NYSE:AGN)
Shares of Allergan (NYSE:AGN) have earned an average recommendation of “Buy” from the twenty-seven brokerages that are currently covering the stock, American Banking News.com reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $147.38.
Allergan (NYSE:AGN) traded down 4.40% on Wednesday, hitting $157.765. The stock had a trading volume of 3,693,032 shares. Allergan has a 52 week low of $81.33 and a 52 week high of $170.05. The stock has a 50-day moving average of $154.1 and a 200-day moving average of $124.2. The company has a market cap of $46.944 billion and a P/E ratio of 40.51. Allergan also was the target of unusually large options trading activity on Tuesday. Stock investors bought 8,801 call options on the company. This is an increase of 107% compared to the typical volume of 4,246 call options.
Allergan (NYSE:AGN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.60 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that Allergan will post $5.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Wednesday, May 21st.
A number of analysts have recently weighed in on AGN shares. Analysts at Buckingham Research upgraded shares of Allergan from a “neutral” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Zacks upgraded shares of Allergan from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $200.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Allergan in a research note on Thursday, May 15th. They now have a $139.00 price target on the stock.
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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