Allergan plc (NYSE:AGN) – Research analysts at SunTrust Banks reduced their Q3 2019 EPS estimates for shares of Allergan in a report issued on Wednesday, August 14th. SunTrust Banks analyst G. Gilbert now forecasts that the company will earn $4.32 per share for the quarter, down from their prior estimate of $4.34. SunTrust Banks has a “Buy” rating and a $185.00 price target on the stock. SunTrust Banks also issued estimates for Allergan’s Q4 2019 earnings at $4.30 EPS, FY2019 earnings at $16.78 EPS, FY2020 earnings at $16.50 EPS, FY2021 earnings at $17.53 EPS, FY2022 earnings at $17.48 EPS and FY2023 earnings at $18.25 EPS.
A number of other equities analysts have also weighed in on AGN. Mizuho lowered Allergan from a “buy” rating to a “neutral” rating and increased their price target for the company from $171.00 to $188.00 in a research report on Wednesday, June 26th. Wells Fargo & Co restated a “buy” rating and set a $176.00 price objective (down from $188.00) on shares of Allergan in a research report on Wednesday, August 14th. ValuEngine lowered Allergan from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Raymond James lowered Allergan from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Finally, Sanford C. Bernstein lowered Allergan from an “outperform” rating to a “market perform” rating and set a $166.08 price objective for the company. in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $179.43.
Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $4.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.34 by $0.04. Allergan had a positive return on equity of 8.73% and a negative net margin of 54.25%. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the company posted $4.42 EPS. Allergan’s revenue for the quarter was down .8% on a year-over-year basis.
Several institutional investors and hedge funds have recently bought and sold shares of AGN. Nuveen Asset Management LLC raised its stake in shares of Allergan by 1,665.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,104,662 shares of the company’s stock worth $519,813,000 after purchasing an additional 2,928,846 shares in the last quarter. FMR LLC raised its stake in shares of Allergan by 42.0% during the 1st quarter. FMR LLC now owns 6,042,005 shares of the company’s stock worth $884,611,000 after purchasing an additional 1,788,265 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Allergan by 27.6% during the 1st quarter. Janus Henderson Group PLC now owns 5,855,576 shares of the company’s stock worth $857,312,000 after purchasing an additional 1,265,742 shares in the last quarter. Magnetar Financial LLC raised its stake in shares of Allergan by 7,332.9% during the 2nd quarter. Magnetar Financial LLC now owns 966,272 shares of the company’s stock worth $161,783,000 after purchasing an additional 953,272 shares in the last quarter. Finally, OZ Management LP purchased a new stake in shares of Allergan during the 2nd quarter worth about $150,878,000. 75.55% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, August 12th. Allergan’s dividend payout ratio (DPR) is presently 17.74%.
Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. The company operates in three segments: US Specialized Therapeutics, US General Medicine, and International. It offers a portfolio of products in various therapeutic areas, including medical aesthetics and dermatology, eye care, neuroscience, urology, gastrointestinal, women's health, and anti-infective therapeutic products.
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