Actavis plc (ACT) Set to Announce Quarterly Earnings on Tuesday
Actavis plc (NYSE:ACT) is scheduled to be announcing its Q214 earnings results on Tuesday, August 5th. Analysts expect the company to announce earnings of $3.36 per share and revenue of $2.55 billion for the quarter.
Actavis plc (NYSE:ACT) opened at 216.89 on Monday. Actavis plc has a 52-week low of $130.06 and a 52-week high of $230.77. The stock has a 50-day moving average of $217.8 and a 200-day moving average of $206.5. The company’s market cap is $37.836 billion. Actavis plc also saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 2,966,492 shares, a drop of 84.5% from the June 30th total of 19,106,544 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 2,417,080 shares, the short-interest ratio is presently 1.2 days.
A number of research firms have recently commented on ACT. Analysts at Bank of America raised their price target on shares of Actavis plc to $254.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. On the ratings front, analysts at Deutsche Bank initiated coverage on shares of Actavis plc in a research note on Tuesday, July 22nd. They set a “buy” rating and a $282.00 price target on the stock. Finally, analysts at CRT Capital raised their price target on shares of Actavis plc from $245.00 to $275.00 in a research note on Wednesday, July 2nd. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $233.32.
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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