Zacks: Analysts Expect West Pharmaceutical Services, Inc. (WST) Will Post Earnings of $0.53 Per Share
Brokerages expect West Pharmaceutical Services, Inc. (NYSE:WST) to report $0.53 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for West Pharmaceutical Services’ earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.53. West Pharmaceutical Services also posted earnings per share of $0.53 in the same quarter last year. The company is expected to issue its next earnings report on Thursday, October 26th.
On average, analysts expect that West Pharmaceutical Services will report full year earnings of $2.69 per share for the current fiscal year, with EPS estimates ranging from $2.66 to $2.72. For the next fiscal year, analysts forecast that the business will post earnings of $2.91 per share, with EPS estimates ranging from $2.80 to $2.97. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover West Pharmaceutical Services.
West Pharmaceutical Services (NYSE:WST) last issued its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. West Pharmaceutical Services had a return on equity of 14.02% and a net margin of 11.42%. The firm had revenue of $397.60 million during the quarter, compared to analyst estimates of $406 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year.
Several brokerages have issued reports on WST. Zacks Investment Research raised shares of West Pharmaceutical Services from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, June 23rd. BidaskClub downgraded shares of West Pharmaceutical Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $90.18.
In other news, CFO William J. Federici sold 54,996 shares of West Pharmaceutical Services stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $95.45, for a total transaction of $5,249,368.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in West Pharmaceutical Services during the fourth quarter valued at $308,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in West Pharmaceutical Services by 18.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 30,960 shares of the medical instruments supplier’s stock valued at $2,526,000 after buying an additional 4,787 shares in the last quarter. Bank of New York Mellon Corp increased its stake in West Pharmaceutical Services by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 842,316 shares of the medical instruments supplier’s stock valued at $68,742,000 after buying an additional 28,302 shares in the last quarter. Karp Capital Management Corp bought a new stake in West Pharmaceutical Services during the first quarter valued at $2,497,000. Finally, SG Americas Securities LLC increased its stake in West Pharmaceutical Services by 414.0% in the first quarter. SG Americas Securities LLC now owns 17,089 shares of the medical instruments supplier’s stock valued at $1,395,000 after buying an additional 13,764 shares in the last quarter. 91.35% of the stock is owned by hedge funds and other institutional investors.
Shares of West Pharmaceutical Services (NYSE WST) traded down 0.40% during midday trading on Wednesday, reaching $86.36. The company’s stock had a trading volume of 358,021 shares. The company’s 50-day moving average price is $93.44 and its 200-day moving average price is $88.71. The company has a market cap of $6.39 billion, a PE ratio of 37.06 and a beta of 1.10. West Pharmaceutical Services has a 12 month low of $70.17 and a 12 month high of $99.91.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Wednesday, October 18th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, October 17th. This represents a $0.56 annualized dividend and a yield of 0.65%. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.13. West Pharmaceutical Services’s dividend payout ratio (DPR) is presently 22.22%.
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About West Pharmaceutical Services
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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