Embecta (NASDAQ:EMBC) Updates FY24 Earnings Guidance

Embecta (NASDAQ:EMBC) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $2.30-2.35 for the period, compared to the consensus earnings per share estimate of $2.28. The company issued revenue guidance of $1.111-1.116 billion, compared to the consensus revenue estimate of $1.11 billion. Embecta also updated its FY 2024 guidance to 2.300-2.350 EPS.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley reduced their price objective on Embecta from $13.00 to $12.00 and set an underweight rating for the company in a research report on Monday, July 15th.

Embecta Stock Up 7.3 %

EMBC stock opened at $15.39 on Monday. The business’s 50-day moving average price is $13.35 and its 200-day moving average price is $13.35. The stock has a market cap of $887.54 million, a P/E ratio of 12.72 and a beta of 0.99. Embecta has a twelve month low of $9.93 and a twelve month high of $22.16.

Embecta (NASDAQ:EMBC) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.26. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The firm had revenue of $272.50 million during the quarter, compared to analysts’ expectations of $267.44 million. During the same period in the prior year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities research analysts expect that Embecta will post 2.29 earnings per share for the current fiscal year.

Embecta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Tuesday, August 27th. Embecta’s dividend payout ratio is currently 49.59%.

About Embecta

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.