Zacks: Brokerages Anticipate Baxter International Inc (BAX) Will Post Earnings of $0.72 Per Share

Equities analysts expect Baxter International Inc (NYSE:BAX) to announce $0.72 earnings per share for the current quarter, according to Zacks. Seven analysts have made estimates for Baxter International’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.71. Baxter International reported earnings per share of $0.64 in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, February 7th.

According to Zacks, analysts expect that Baxter International will report full-year earnings of $3.00 per share for the current financial year, with EPS estimates ranging from $2.99 to $3.01. For the next fiscal year, analysts expect that the company will report earnings of $3.25 per share, with EPS estimates ranging from $3.01 to $3.30. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Baxter International.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter last year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year.

BAX has been the topic of several research analyst reports. Citigroup reduced their price target on shares of Baxter International from $76.00 to $69.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 13th. Leerink Swann reduced their price target on shares of Baxter International from $90.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, November 1st. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Friday, November 2nd. Wells Fargo & Co dropped their price objective on shares of Baxter International from $82.00 to $72.00 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. Finally, Piper Jaffray Companies dropped their price objective on shares of Baxter International from $83.00 to $72.00 and set an “overweight” rating on the stock in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $74.18.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the sale, the senior vice president now owns 59,452 shares in the company, valued at $4,593,856.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. Private Trust Co. NA increased its stake in shares of Baxter International by 6.3% in the third quarter. Private Trust Co. NA now owns 11,572 shares of the medical instruments supplier’s stock valued at $892,000 after purchasing an additional 690 shares during the period. FineMark National Bank & Trust increased its stake in shares of Baxter International by 6.0% in the second quarter. FineMark National Bank & Trust now owns 13,239 shares of the medical instruments supplier’s stock valued at $978,000 after purchasing an additional 753 shares during the period. Cpwm LLC increased its stake in shares of Baxter International by 22.8% in the second quarter. Cpwm LLC now owns 4,230 shares of the medical instruments supplier’s stock valued at $312,000 after purchasing an additional 784 shares during the period. Penobscot Investment Management Company Inc. increased its stake in shares of Baxter International by 20.1% in the third quarter. Penobscot Investment Management Company Inc. now owns 4,790 shares of the medical instruments supplier’s stock valued at $369,000 after purchasing an additional 800 shares during the period. Finally, Chicago Partners Investment Group LLC increased its stake in shares of Baxter International by 31.4% in the third quarter. Chicago Partners Investment Group LLC now owns 3,351 shares of the medical instruments supplier’s stock valued at $225,000 after purchasing an additional 800 shares during the period. Institutional investors own 81.96% of the company’s stock.

Shares of BAX stock traded up $0.58 during trading hours on Friday, hitting $68.60. 198,580 shares of the company were exchanged, compared to its average volume of 4,481,291. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.60. Baxter International has a one year low of $61.05 and a one year high of $78.38. The stock has a market capitalization of $36.36 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 1.84 and a beta of 1.02.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.76 annualized dividend and a yield of 1.11%. Baxter International’s dividend payout ratio (DPR) is 30.65%.

Baxter International announced that its board has authorized a stock repurchase program on Tuesday, November 13th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Baxter International

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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