Wall Street analysts expect Allergan PLC. (NYSE:AGN) to report $4.28 billion in sales for the current quarter, Zacks reports. Twenty analysts have provided estimates for Allergan’s earnings. The lowest sales estimate is $4.15 billion and the highest is $4.33 billion. Allergan reported sales of $3.86 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.9%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Allergan will report full year sales of $4.28 billion for the current financial year, with estimates ranging from $15.79 billion to $15.96 billion. For the next year, analysts anticipate that the business will post sales of $15.76 billion per share, with estimates ranging from $15.11 billion to $16.99 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Allergan.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 EPS for the quarter, topping analysts’ consensus estimates of $4.06 by $0.09. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. Allergan’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.32 EPS.
A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald set a $191.00 price objective on Allergan and gave the stock a “hold” rating in a research report on Tuesday. Argus lowered Allergan from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $256.80 to $160.07 in a research report on Thursday, December 7th. Vetr lowered Allergan from a “strong-buy” rating to a “buy” rating and set a $187.73 price objective on the stock. in a research report on Wednesday, December 6th. Morgan Stanley set a $200.00 price objective on Allergan and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Allergan in a research report on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $235.25.
Shares of Allergan (NYSE AGN) opened at $172.76 on Tuesday. The firm has a market capitalization of $55,807.45, a price-to-earnings ratio of 10.88, a P/E/G ratio of 1.12 and a beta of 1.11. Allergan has a 52-week low of $160.07 and a 52-week high of $256.80. The company has a current ratio of 1.18, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40.
Allergan announced that its board has approved a share repurchase plan on Monday, September 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.62%. Allergan’s dividend payout ratio (DPR) is presently -12.44%.
In other Allergan news, insider William Meury sold 11,807 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chris W. Bodine acquired 3,030 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was acquired at an average cost of $164.77 per share, for a total transaction of $499,253.10. The disclosure for this purchase can be found here. Insiders acquired a total of 17,630 shares of company stock worth $2,890,057 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Hudock Capital Group LLC lifted its stake in shares of Allergan by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 571 shares of the company’s stock valued at $138,000 after purchasing an additional 2 shares during the period. Burns J W & Co. Inc. NY lifted its stake in shares of Allergan by 0.7% in the 2nd quarter. Burns J W & Co. Inc. NY now owns 906 shares of the company’s stock valued at $220,000 after purchasing an additional 6 shares during the period. Pacific Center for Financial Services lifted its stake in shares of Allergan by 1.3% in the 2nd quarter. Pacific Center for Financial Services now owns 541 shares of the company’s stock valued at $132,000 after purchasing an additional 7 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Allergan by 0.5% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,666 shares of the company’s stock valued at $405,000 after purchasing an additional 9 shares during the period. Finally, Trust Co lifted its stake in shares of Allergan by 0.8% in the 1st quarter. Trust Co now owns 1,224 shares of the company’s stock valued at $292,000 after purchasing an additional 10 shares during the period. 81.34% of the stock is currently owned by institutional investors.
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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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