West Pharmaceutical Services, Inc. (WST) Announces Dividend Increase – $0.14 Per Share
West Pharmaceutical Services, Inc. (NYSE:WST) announced a quarterly dividend on Thursday, July 20th, Zacks reports. Stockholders of record on Wednesday, October 18th will be given a dividend of 0.14 per share by the medical instruments supplier on Wednesday, November 1st. This represents a $0.56 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Tuesday, October 17th. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.13.
West Pharmaceutical Services has increased its dividend payment by an average of 8.4% annually over the last three years and has raised its dividend every year for the last 24 years. West Pharmaceutical Services has a dividend payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect West Pharmaceutical Services to earn $3.00 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.7%.
West Pharmaceutical Services (NYSE WST) traded down 0.59% during mid-day trading on Friday, hitting $92.93. 70,995 shares of the stock traded hands. The firm has a market cap of $6.84 billion, a P/E ratio of 38.46 and a beta of 1.12. West Pharmaceutical Services has a 52-week low of $70.17 and a 52-week high of $99.91. The firm’s 50-day moving average is $95.89 and its 200 day moving average is $88.40.
West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, April 27th. The medical instruments supplier reported $0.81 EPS for the quarter, beating the consensus estimate of $0.55 by $0.26. The business had revenue of $387.70 million during the quarter, compared to analyst estimates of $380.42 million. West Pharmaceutical Services had a return on equity of 14.89% and a net margin of 11.88%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. Equities analysts predict that West Pharmaceutical Services will post $2.73 EPS for the current fiscal year.
Several brokerages have recently weighed in on WST. Zacks Investment Research upgraded West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Friday, June 23rd. BidaskClub downgraded West Pharmaceutical Services from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Jefferies Group LLC restated a “hold” rating and set a $90.00 price target on shares of West Pharmaceutical Services in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $90.18.
In other news, CFO William J. Federici sold 54,996 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $95.45, for a total transaction of $5,249,368.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Daniel Malone sold 4,124 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $93.31, for a total value of $384,810.44. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
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West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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