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.
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.
ILLEGAL ACTIVITY NOTICE: “Allergan plc (AGN) Forecasted to Earn Q1 2018 Earnings of $3.73 Per Share” was first published by Markets Daily and is owned by of Markets Daily. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://www.themarketsdaily.com/2018/01/11/allergan-plc-agn-forecasted-to-earn-q1-2018-earnings-of-3-73-per-share.html.
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.
Receive News & Ratings for Allergan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allergan and related companies with MarketBeat.com's FREE daily email newsletter.