Allergan PLC. (NYSE:AGN) announced its quarterly earnings results on Wednesday. The company reported $4.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.06 by $0.09, Bloomberg Earnings reports. Allergan PLC. had a return on equity of 7.37% and a net margin of 79.17%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the firm posted $3.32 EPS. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Allergan PLC. updated its FY17 guidance to $16.15-16.45 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Thursday, November 16th. Allergan PLC.’s dividend payout ratio is presently 9.95%.
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AGN has been the subject of a number of research reports. Citigroup Inc. reissued a “buy” rating and set a $280.00 target price on shares of Allergan PLC. in a report on Wednesday, September 20th. Piper Jaffray Companies set a $227.00 target price on Allergan PLC. and gave the stock a “hold” rating in a report on Friday, October 6th. Deutsche Bank AG set a $251.00 target price on Allergan PLC. and gave the stock a “buy” rating in a report on Tuesday, October 17th. Royal Bank Of Canada reissued a “buy” rating and set a $285.00 target price on shares of Allergan PLC. in a report on Wednesday, September 6th. Finally, Wells Fargo & Company set a $276.00 target price on Allergan PLC. and gave the stock a “buy” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $250.99.
Allergan PLC. declared that its board has initiated a share buyback plan on Monday, September 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
About Allergan PLC.
Allergan, Inc is a multi-specialty healthcare company. The Company focuses on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter (OTC) products. It discovers, develops and commercializes a range of products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets.
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