Allergan plc (AGN) Forecasted to Earn Q1 2018 Earnings of $3.73 Per Share

Allergan plc (NYSE:AGN) – Equities researchers at Leerink Swann lifted their Q1 2018 earnings per share estimates for shares of Allergan in a note issued to investors on Tuesday. Leerink Swann analyst S. Fernandez now expects that the company will post earnings per share of $3.73 for the quarter, up from their previous forecast of $3.42. Leerink Swann has a “Outperform” rating and a $237.00 price target on the stock. Leerink Swann also issued estimates for Allergan’s Q2 2018 earnings at $3.79 EPS, Q3 2018 earnings at $3.78 EPS, Q4 2018 earnings at $4.06 EPS, FY2018 earnings at $15.36 EPS, FY2019 earnings at $16.61 EPS, FY2020 earnings at $17.91 EPS, FY2021 earnings at $19.50 EPS and FY2022 earnings at $20.48 EPS.

Allergan (NYSE:AGN) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.06 by $0.09. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the company posted $3.32 earnings per share. Allergan’s revenue was up 11.4% compared to the same quarter last year.

Other equities research analysts also recently issued research reports about the company. Cowen reiterated a “buy” rating on shares of Allergan in a report on Thursday, October 12th. UBS Group reiterated a “buy” rating and set a $275.00 price target on shares of Allergan in a report on Tuesday, September 26th. Wells Fargo & Co reissued a “buy” rating on shares of Allergan in a research report on Monday, October 2nd. Mizuho reissued a “buy” rating and issued a $267.00 price objective on shares of Allergan in a research report on Monday, September 25th. Finally, Citigroup reissued a “buy” rating and issued a $280.00 price objective on shares of Allergan in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Allergan has an average rating of “Hold” and a consensus target price of $226.95.

Shares of Allergan (NYSE AGN) traded up $1.62 during trading on Wednesday, reaching $175.61. The company had a trading volume of 511,950 shares, compared to its average volume of 3,020,000. Allergan has a 1-year low of $160.07 and a 1-year high of $256.80. The company has a market capitalization of $57,870.00, a P/E ratio of -7.77, a P/E/G ratio of 1.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.18 and a quick ratio of 1.08.

Several hedge funds and other institutional investors have recently modified their holdings of AGN. Edgewood Management LLC lifted its position in shares of Allergan by 24.3% during the 3rd quarter. Edgewood Management LLC now owns 4,445,924 shares of the company’s stock valued at $911,192,000 after buying an additional 869,248 shares during the last quarter. Baupost Group LLC MA lifted its holdings in Allergan by 21.9% during the 3rd quarter. Baupost Group LLC MA now owns 2,964,203 shares of the company’s stock worth $607,513,000 after purchasing an additional 531,600 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Allergan by 4,852.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 503,088 shares of the company’s stock worth $103,108,000 after purchasing an additional 492,930 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Allergan by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,835,689 shares of the company’s stock worth $5,551,128,000 after purchasing an additional 482,220 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Allergan during the 3rd quarter worth about $92,182,000. 81.14% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Chris W. Bodine purchased 3,030 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were purchased at an average price of $164.77 per share, with a total value of $499,253.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William Meury sold 11,807 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $173.89, for a total value of $2,053,119.23. The disclosure for this sale can be found here. Insiders have bought a total of 17,630 shares of company stock worth $2,890,057 in the last ninety days. Insiders own 0.36% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.59%. Allergan’s dividend payout ratio is currently -12.39%.

Allergan announced that its Board of Directors has initiated a share repurchase program on Monday, September 25th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 2.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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Allergan 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.

Earnings History and Estimates for Allergan (NYSE:AGN)

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