Baxter International (BAX) Announces Earnings Results
Baxter International (NYSE:BAX) issued its earnings results on Thursday. The medical instruments supplier reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08, Bloomberg Earnings reports. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.62 billion. Baxter International had a net margin of 7.75% and a return on equity of 15.64%. Baxter International’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 earnings per share. Baxter International updated its Q2 guidance to $0.69-0.71 EPS and its FY18 guidance to $2.85-2.93 EPS.
Shares of BAX stock opened at $70.21 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.57 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $37,804.31, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.83 and a beta of 0.80. Baxter International has a fifty-two week low of $55.31 and a fifty-two week high of $72.58.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 1st. Baxter International’s dividend payout ratio (DPR) is currently 25.81%.
Baxter International declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 20th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
A number of equities research analysts have recently issued reports on BAX shares. Bank of America raised shares of Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Monday, March 26th. Evercore ISI started coverage on shares of Baxter International in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price target on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $72.00 price target on shares of Baxter International in a research note on Friday, February 2nd. Finally, BMO Capital Markets boosted their price target on shares of Baxter International from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Baxter International has an average rating of “Buy” and a consensus target price of $71.13.
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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