West Pharmaceutical Services, Inc. (NYSE:WST) announced a quarterly dividend on Tuesday, May 16th, Wall Street Journal reports. Shareholders of record on Wednesday, July 19th will be paid a dividend of 0.13 per share by the medical instruments supplier on Wednesday, August 2nd. This represents a $0.52 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Monday, July 17th.
West Pharmaceutical Services has increased its dividend payment by an average of 8.4% annually over the last three years and has increased its dividend annually for the last 24 consecutive years. West Pharmaceutical Services has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect West Pharmaceutical Services to earn $3.00 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.7%.
West Pharmaceutical Services (NYSE:WST) opened at 94.46 on Wednesday. The stock’s 50 day moving average is $95.89 and its 200 day moving average is $88.40. West Pharmaceutical Services has a 12-month low of $70.17 and a 12-month high of $99.91. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 39.10 and a beta of 1.12.
West Pharmaceutical Services (NYSE:WST) last announced its earnings results on Thursday, April 27th. The medical instruments supplier reported $0.81 EPS for the quarter, beating the consensus estimate of $0.55 by $0.26. West Pharmaceutical Services had a return on equity of 14.89% and a net margin of 11.88%. The business had revenue of $387.70 million during the quarter, compared to the consensus estimate of $380.42 million. During the same period in the prior year, the business posted $0.53 earnings per share. West Pharmaceutical Services’s revenue was up 7.1% compared to the same quarter last year. Equities research analysts forecast that West Pharmaceutical Services will post $2.73 EPS for the current fiscal year.
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In other West Pharmaceutical Services news, VP Daniel Malone sold 4,124 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $93.31, for a total transaction of $384,810.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO William J. Federici sold 54,996 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $95.45, for a total value of $5,249,368.20. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.
WST has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $90.00 price target (up from $82.00) on shares of West Pharmaceutical Services in a research report on Friday, April 28th. Zacks Investment Research upgraded West Pharmaceutical Services from a “sell” rating to a “hold” rating in a research note on Tuesday, April 4th. Finally, BidaskClub downgraded West Pharmaceutical Services from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $90.18.
West Pharmaceutical Services Company Profile
West Pharmaceutical Services, Inc is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Company’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services.
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