FY2018 EPS Estimates for Allergan plc Cut by Analyst (AGN)

Allergan plc (NYSE:AGN) – Gabelli reduced their FY2018 earnings per share estimates for Allergan in a note issued to investors on Wednesday. Gabelli analyst K. Kedra now anticipates that the company will post earnings per share of $15.95 for the year, down from their prior estimate of $16.20. Gabelli also issued estimates for Allergan’s FY2019 earnings at $16.75 EPS and FY2020 earnings at $18.95 EPS.

Allergan (NYSE:AGN) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $4.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.06 by $0.09. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.04 billion. Allergan had a positive return on equity of 8.00% and a negative net margin of 47.27%. Allergan’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $3.32 earnings per share.

A number of other research analysts also recently issued reports on AGN. Morgan Stanley downgraded Allergan from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $284.00 to $228.00 in a report on Wednesday, September 20th. Citigroup reiterated a “buy” rating and set a $280.00 price objective on shares of Allergan in a report on Wednesday, September 20th. Cantor Fitzgerald reiterated a “hold” rating and set a $231.00 price objective on shares of Allergan in a report on Friday, September 22nd. Cowen reissued an “outperform” rating and set a $400.00 price target on shares of Allergan in a research report on Saturday, September 23rd. Finally, Royal Bank of Canada reduced their price target on Allergan from $285.00 to $277.00 and set an “outperform” rating for the company in a research report on Monday, September 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $226.95.

Allergan (NYSE:AGN) traded down $1.07 during trading hours on Friday, hitting $176.05. The company had a trading volume of 2,802,192 shares, compared to its average volume of 2,980,000. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.18. The company has a market capitalization of $58,910.00, a P/E ratio of -7.79, a PEG ratio of 1.27 and a beta of 1.11. Allergan has a fifty-two week low of $160.07 and a fifty-two week high of $256.80.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Command Financial Services Inc. lifted its position in shares of Allergan by 605.1% in the fourth quarter. First Command Financial Services Inc. now owns 1,375 shares of the company’s stock valued at $225,000 after buying an additional 1,180 shares during the last quarter. Hikari Power Ltd lifted its position in shares of Allergan by 26.8% in the fourth quarter. Hikari Power Ltd now owns 90,500 shares of the company’s stock valued at $14,804,000 after buying an additional 19,100 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in Allergan during the 4th quarter worth approximately $153,000. VNBTrust National Association lifted its holdings in Allergan by 117.2% during the 4th quarter. VNBTrust National Association now owns 3,466 shares of the company’s stock worth $567,000 after purchasing an additional 1,870 shares during the last quarter. Finally, Windward Capital Management Co. CA lifted its holdings in Allergan by 9.4% during the 4th quarter. Windward Capital Management Co. CA now owns 3,475 shares of the company’s stock worth $568,000 after purchasing an additional 298 shares during the last quarter. 81.14% of the stock is owned by institutional investors.

In other news, insider William Meury sold 11,807 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $173.89, for a total value of $2,053,119.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christopher J. Coughlin acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average cost of $163.30 per share, with a total value of $1,633,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 17,630 shares of company stock valued at $2,890,057. Insiders own 0.36% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, November 16th. This represents a $2.80 annualized dividend and a yield of 1.59%. Allergan’s dividend payout ratio (DPR) is presently -12.39%.

Allergan announced that its board has authorized a stock buyback program on Monday, September 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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About Allergan

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.

Earnings History and Estimates for Allergan (NYSE:AGN)

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