Allergan plc (NYSE:AGN) Announces Quarterly Dividend of $0.74
Allergan plc (NYSE:AGN) announced a quarterly dividend on Friday, July 19th, RTT News reports. Investors of record on Tuesday, August 13th will be paid a dividend of 0.74 per share on Friday, September 13th. This represents a $2.96 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Monday, August 12th.
Allergan has raised its dividend by an average of 286.2% annually over the last three years. Allergan has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Allergan to earn $16.91 per share next year, which means the company should continue to be able to cover its $2.96 annual dividend with an expected future payout ratio of 17.5%.
NYSE:AGN opened at $159.84 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.60 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $161.32. The stock has a market cap of $52.40 billion, a PE ratio of 9.57, a P/E/G ratio of 1.52 and a beta of 1.63. Allergan has a 1-year low of $114.27 and a 1-year high of $197.00.
A number of equities analysts have weighed in on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $178.00 price objective on shares of Allergan in a research report on Thursday. UBS Group decreased their price objective on shares of Allergan from $173.00 to $172.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. TheStreet raised shares of Allergan from a “d+” rating to a “c” rating in a research report on Friday, July 12th. Leerink Swann cut shares of Allergan from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $217.00 to $188.00 in a research report on Thursday, July 18th. Finally, Raymond James cut shares of Allergan from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $180.00.
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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