Zacks: Analysts Expect Allergan PLC. (AGN) to Announce $4.76 Earnings Per Share
Equities research analysts forecast that Allergan PLC. (NYSE:AGN) will announce earnings per share (EPS) of $4.76 for the current fiscal quarter, according to Zacks Investment Research. Nineteen analysts have provided estimates for Allergan PLC.’s earnings. The lowest EPS estimate is $4.51 and the highest is $4.94. Allergan PLC. posted earnings of $3.90 per share in the same quarter last year, which would suggest a positive year over year growth rate of 22.1%. The firm is expected to report its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Allergan PLC. will report full-year earnings of $16.20 per share for the current year, with EPS estimates ranging from $15.97 to $16.39. For the next financial year, analysts forecast that the firm will report earnings of $17.20 per share, with EPS estimates ranging from $15.00 to $18.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Allergan PLC..
Allergan PLC. (NYSE:AGN) last posted its earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.06 by $0.09. Allergan PLC. had a positive return on equity of 7.86% and a negative net margin of 47.27%. The firm had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the company earned $3.32 EPS. Allergan PLC.’s revenue was up 11.4% on a year-over-year basis.
Several analysts recently issued reports on the company. Citigroup Inc. reiterated a “buy” rating and issued a $280.00 price target on shares of Allergan PLC. in a report on Wednesday, September 20th. Piper Jaffray Companies set a $227.00 target price on Allergan PLC. and gave the company a “hold” rating in a research note on Friday, October 6th. Deutsche Bank AG set a $251.00 price target on Allergan PLC. and gave the stock a “buy” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $285.00 target price on shares of Allergan PLC. in a report on Wednesday, September 6th. Finally, Wells Fargo & Company set a $276.00 target price on shares of Allergan PLC. and gave the stock a “buy” rating in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $246.73.
Several hedge funds have recently added to or reduced their stakes in AGN. Cipher Capital LP acquired a new stake in shares of Allergan PLC. in the 1st quarter valued at $853,000. Hugh Johnson Advisors LLC lifted its position in Allergan PLC. by 3.5% during the 1st quarter. Hugh Johnson Advisors LLC now owns 10,042 shares of the company’s stock worth $2,399,000 after acquiring an additional 340 shares during the last quarter. Atlantic Trust Group LLC lifted its position in Allergan PLC. by 17.7% during the 1st quarter. Atlantic Trust Group LLC now owns 644,643 shares of the company’s stock worth $154,019,000 after acquiring an additional 97,079 shares during the last quarter. Sandy Spring Bank lifted its position in Allergan PLC. by 5.5% during the 1st quarter. Sandy Spring Bank now owns 10,120 shares of the company’s stock worth $2,417,000 after acquiring an additional 530 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Allergan PLC. by 133.3% during the 1st quarter. Schroder Investment Management Group now owns 417,948 shares of the company’s stock worth $100,225,000 after acquiring an additional 238,796 shares during the last quarter. 82.02% of the stock is owned by institutional investors and hedge funds.
Shares of Allergan PLC. (NYSE:AGN) traded down $1.85 on Friday, hitting $175.38. The company had a trading volume of 9,046,067 shares, compared to its average volume of 5,440,519. The firm has a market capitalization of $58.33 billion, a PE ratio of 11.37 and a beta of 1.13.
Allergan PLC. announced that its board has initiated a stock repurchase plan on Monday, September 25th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, November 16th. Allergan PLC.’s payout ratio is presently -12.44%.
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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