Merck & Co., Inc. (NYSE:MRK) Updates FY24 Earnings Guidance

Merck & Co., Inc. (NYSE:MRKGet Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $7.72-7.77 for the period, compared to the consensus earnings per share estimate of $7.75. The company issued revenue guidance of $63.6-64.1 billion, compared to the consensus revenue estimate of $64.14 billion. Merck & Co., Inc. also updated its FY 2024 guidance to 7.720-7.770 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MRK. Cantor Fitzgerald restated an “overweight” rating and issued a $155.00 target price on shares of Merck & Co., Inc. in a report on Thursday, October 3rd. Sanford C. Bernstein began coverage on shares of Merck & Co., Inc. in a report on Thursday, October 17th. They issued a “market perform” rating and a $115.00 target price on the stock. Wolfe Research upgraded shares of Merck & Co., Inc. to a “strong-buy” rating in a report on Wednesday, July 31st. Citigroup reduced their target price on shares of Merck & Co., Inc. from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Wells Fargo & Company reduced their target price on shares of Merck & Co., Inc. from $140.00 to $125.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and a consensus price target of $131.46.

Read Our Latest Report on Merck & Co., Inc.

Merck & Co., Inc. Trading Down 3.0 %

MRK traded down $3.18 on Thursday, reaching $101.65. 4,265,162 shares of the company’s stock were exchanged, compared to its average volume of 8,791,894. The company’s 50 day moving average is $112.87 and its 200-day moving average is $121.17. The company has a market cap of $257.46 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.49 and a beta of 0.39. Merck & Co., Inc. has a twelve month low of $98.60 and a twelve month high of $134.63. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.22 and a current ratio of 1.47.

Merck & Co., Inc. (NYSE:MRKGet Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $16.10 billion during the quarter, compared to the consensus estimate of $15.87 billion. Merck & Co., Inc. had a net margin of 21.99% and a return on equity of 40.69%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.06) EPS. Equities analysts predict that Merck & Co., Inc. will post 7.76 earnings per share for the current year.

Merck & Co., Inc. Company Profile

(Get Free Report)

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.

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Earnings History and Estimates for Merck & Co., Inc. (NYSE:MRK)

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