Allergan plc (NYSE:AGN) – Research analysts at Gabelli dropped their FY2020 EPS estimates for Allergan in a research note issued to investors on Wednesday, June 19th, according to Zacks Investment Research. Gabelli analyst K. Kedra now anticipates that the company will post earnings of $17.40 per share for the year, down from their prior forecast of $17.65. Gabelli also issued estimates for Allergan’s FY2021 earnings at $18.80 EPS, FY2022 earnings at $20.00 EPS and FY2023 earnings at $21.60 EPS.
Several other research firms also recently commented on AGN. Barclays reduced their price target on shares of from GBX 320 ($4.18) to GBX 290 ($3.79) and set an “overweight” rating for the company in a research report on Tuesday, June 25th. Credit Suisse Group set a $155.00 price target on shares of Allergan and gave the company a “hold” rating in a report on Monday, March 25th. Goldman Sachs Group set a $27.00 price target on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, May 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $130.00 price target (up previously from $116.00) on shares of Zoetis in a report on Wednesday, June 12th. Finally, UBS Group increased their price target on shares of Zayo Group from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company’s stock. Allergan currently has a consensus rating of “Hold” and a consensus target price of $177.65.
Allergan (NYSE:AGN) last released its quarterly earnings results on Tuesday, May 7th. The company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.55 by $0.24. Allergan had a negative net margin of 45.94% and a positive return on equity of 8.45%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the prior year, the firm earned $3.74 EPS. Allergan’s revenue for the quarter was down 2.0% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in AGN. Longview Partners Guernsey LTD boosted its stake in shares of Allergan by 288.6% during the 4th quarter. Longview Partners Guernsey LTD now owns 6,026,108 shares of the company’s stock worth $805,450,000 after purchasing an additional 4,475,447 shares during the last quarter. Norges Bank acquired a new stake in shares of Allergan during the 4th quarter worth about $484,853,000. FMR LLC lifted its holdings 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 acquiring an additional 1,788,265 shares during the period. Janus Henderson Group PLC lifted its holdings 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 acquiring an additional 1,265,742 shares during the period. Finally, Ellis Investment Partners LLC lifted its holdings in shares of Allergan by 14,302.8% during the 1st quarter. Ellis Investment Partners LLC now owns 852,214 shares of the company’s stock worth $852,000 after acquiring an additional 846,297 shares during the period. 80.15% of the stock is currently owned by institutional investors.
The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $2.96 annualized dividend and a dividend yield of 1.78%. Allergan’s dividend payout ratio is currently 17.74%.
Allergan Company Profile
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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