William Blair Comments on Allergan PLC.’s Q3 2017 Earnings (AGN)
Allergan PLC. (NYSE:AGN) – Research analysts at William Blair lowered their Q3 2017 earnings per share (EPS) estimates for shares of Allergan PLC. in a note issued to investors on Wednesday. William Blair analyst T. Lugo now forecasts that the company will post earnings per share of $4.03 for the quarter, down from their prior forecast of $4.44. William Blair also issued estimates for Allergan PLC.’s Q4 2017 earnings at $4.84 EPS, FY2017 earnings at $16.24 EPS, FY2018 earnings at $17.37 EPS, FY2019 earnings at $18.90 EPS and FY2020 earnings at $20.60 EPS.
AGN has been the topic of a number of other research reports. Royal Bank Of Canada decreased their target price on shares of Allergan PLC. from $285.00 to $277.00 and set an “outperform” rating on the stock in a research note on Monday, September 25th. Vetr raised shares of Allergan PLC. from a “sell” rating to a “hold” rating and set a $242.88 target price on the stock in a research note on Monday, June 26th. BidaskClub cut shares of Allergan PLC. from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Mizuho reaffirmed a “buy” rating and set a $267.00 target price on shares of Allergan PLC. in a research note on Monday, September 25th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $280.00 target price on shares of Allergan PLC. in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $271.84.
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Allergan PLC. (NYSE:AGN) opened at 209.30 on Friday. Allergan PLC. has a 12-month low of $184.50 and a 12-month high of $256.80. The firm has a market cap of $69.97 billion, a P/E ratio of 6.38 and a beta of 1.15. The firm’s 50-day moving average price is $219.01 and its 200 day moving average price is $233.37.
Allergan PLC. (NYSE:AGN) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $4.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.07. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the business earned $3.35 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were issued a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $2.80 annualized dividend and a yield of 1.34%. Allergan PLC.’s payout ratio is 9.95%.
Allergan PLC. declared that its board has initiated a stock repurchase plan on Monday, September 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in AGN. Waldron LP acquired a new position in Allergan PLC. in the first quarter valued at $348,000. Intrust Bank NA lifted its holdings in Allergan PLC. by 3.7% in the first quarter. Intrust Bank NA now owns 2,009 shares of the company’s stock valued at $480,000 after buying an additional 72 shares during the period. Ropes Wealth Advisors LLC lifted its holdings in Allergan PLC. by 31.0% in the first quarter. Ropes Wealth Advisors LLC now owns 575 shares of the company’s stock valued at $137,000 after buying an additional 136 shares during the period. Morningstar Investment Services LLC acquired a new position in Allergan PLC. in the first quarter valued at $46,107,000. Finally, Destination Wealth Management acquired a new position in Allergan PLC. in the first quarter valued at $329,000. Institutional investors and hedge funds own 82.03% of the company’s stock.
Allergan PLC. Company Profile
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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