Baxter International (NYSE:BAX) Issues FY 2024 Earnings Guidance

Baxter International (NYSE:BAXGet Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.930-3.010 for the period, compared to the consensus EPS estimate of 2.920. The company issued revenue guidance of $15.3 billion-$15.3 billion, compared to the consensus revenue estimate of $15.1 billion. Baxter International also updated its FY24 guidance to $2.93-3.01 EPS.

Wall Street Analyst Weigh In

BAX has been the topic of several research reports. Evercore ISI cut their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. TD Cowen lowered shares of Baxter International from a buy rating to a hold rating and set a $40.00 price objective on the stock. in a research note on Friday, May 10th. The Goldman Sachs Group upped their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Baxter International from $44.00 to $42.00 and set a neutral rating for the company in a research note on Wednesday. Finally, StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $41.73.

Check Out Our Latest Report on BAX

Baxter International Price Performance

Shares of Baxter International stock traded down $0.28 on Friday, hitting $37.14. The company’s stock had a trading volume of 3,892,882 shares, compared to its average volume of 4,264,026. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. Baxter International has a 1 year low of $31.01 and a 1 year high of $44.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. The firm has a fifty day moving average price of $34.47 and a 200-day moving average price of $37.91.

Baxter International (NYSE:BAXGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Baxter International will post 2.91 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s dividend payout ratio is presently 22.31%.

About Baxter International

(Get Free Report)

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.

See Also

Earnings History and Estimates for Baxter International (NYSE:BAX)

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