Allergan plc (NYSE:AGN) – Investment analysts at SunTrust Banks reduced their Q3 2018 earnings estimates for shares of Allergan in a research report issued to clients and investors on Monday, September 17th, Zacks Investment Research reports. SunTrust Banks analyst J. Boris now expects that the company will post earnings of $4.12 per share for the quarter, down from their prior estimate of $4.13. SunTrust Banks currently has a “Buy” rating and a $218.00 target price on the stock. SunTrust Banks also issued estimates for Allergan’s FY2020 earnings at $19.11 EPS, FY2021 earnings at $21.43 EPS and FY2022 earnings at $23.67 EPS.
A number of other equities analysts have also commented on AGN. Zacks Investment Research raised Allergan from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Wednesday, July 11th. Cantor Fitzgerald set a $180.00 price target on Allergan and gave the stock a “hold” rating in a report on Thursday, July 19th. Guggenheim assumed coverage on Allergan in a research note on Monday, October 8th. They set a “buy” rating for the company. Mizuho reissued a “neutral” rating and set a $194.00 price objective on shares of Allergan in a research note on Monday, July 9th. Finally, Argus reissued a “hold” rating on shares of Allergan in a research note on Thursday, July 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $211.91.
Shares of Allergan stock traded up $1.06 during trading hours on Thursday, reaching $183.28. The company had a trading volume of 2,084,762 shares, compared to its average volume of 2,552,896. Allergan has a one year low of $142.81 and a one year high of $207.24. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.00 and a quick ratio of 0.85. The firm has a market capitalization of $64.66 billion, a P/E ratio of 11.21, a PEG ratio of 1.47 and a beta of 1.19.
Allergan (NYSE:AGN) last posted its quarterly earnings results on Thursday, July 26th. The company reported $4.42 EPS for the quarter, topping the Zacks’ consensus estimate of $4.13 by $0.29. Allergan had a positive return on equity of 8.60% and a negative net margin of 10.29%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company earned $4.02 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parnassus Investments CA increased its holdings in shares of Allergan by 3.1% in the second quarter. Parnassus Investments CA now owns 1,844,804 shares of the company’s stock worth $307,566,000 after buying an additional 55,029 shares during the period. Bank of New York Mellon Corp increased its holdings in Allergan by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,545,557 shares of the company’s stock valued at $591,116,000 after purchasing an additional 99,490 shares during the period. Arbor Wealth Management LLC increased its holdings in Allergan by 92.8% during the 1st quarter. Arbor Wealth Management LLC now owns 13,846 shares of the company’s stock valued at $2,137,000 after purchasing an additional 6,663 shares during the period. Toronto Dominion Bank increased its holdings in Allergan by 1.5% during the 2nd quarter. Toronto Dominion Bank now owns 517,895 shares of the company’s stock valued at $90,451,000 after purchasing an additional 7,683 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Allergan by 1.5% during the 2nd quarter. Gamco Investors INC. ET AL now owns 74,591 shares of the company’s stock valued at $12,436,000 after purchasing an additional 1,138 shares during the period. Hedge funds and other institutional investors own 77.38% of the company’s stock.
In related news, Director Joseph H. Boccuzi acquired 900 shares of the firm’s stock in a transaction dated Thursday, August 30th. The shares were purchased at an average price of $190.59 per share, for a total transaction of $171,531.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher J. Coughlin acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was bought at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.
The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 17th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $2.88 dividend on an annualized basis and a yield of 1.57%. Allergan’s payout ratio is 17.61%.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.
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