West Pharmaceutical Services (NYSE:WST) Updates FY24 Earnings Guidance

West Pharmaceutical Services (NYSE:WST) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.55 to $6.75 for the period, compared to the consensus EPS estimate of $6.42. The company issued revenue guidance of $2.875 billion to $2.905 billion from $2.870 billion to $2.900, compared to the consensus revenue estimate of $2.87 billion. West Pharmaceutical Services also updated its FY 2024 guidance to 6.550-6.750 EPS.

West Pharmaceutical Services Price Performance

West Pharmaceutical Services stock traded down $22.73 during mid-day trading on Friday, reaching $307.92. The company had a trading volume of 1,486,236 shares, compared to its average volume of 563,827. The stock’s 50-day simple moving average is $300.36 and its 200-day simple moving average is $322.86. The company has a market capitalization of $22.34 billion, a P/E ratio of 44.52, a P/E/G ratio of 10.21 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.34 and a quick ratio of 1.68. West Pharmaceutical Services has a 1 year low of $265.00 and a 1 year high of $413.70.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.34. The firm had revenue of $746.90 million during the quarter, compared to the consensus estimate of $709.62 million. West Pharmaceutical Services had a return on equity of 19.17% and a net margin of 18.25%. West Pharmaceutical Services’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. On average, equities analysts predict that West Pharmaceutical Services will post 6.42 EPS for the current year.

West Pharmaceutical Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.27%. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, November 13th. West Pharmaceutical Services’s dividend payout ratio is presently 11.38%.

Insiders Place Their Bets

In other news, VP Charles Witherspoon sold 1,029 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $300.00, for a total transaction of $308,700.00. Following the completion of the transaction, the vice president now directly owns 1,478 shares of the company’s stock, valued at $443,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

West Pharmaceutical Services Company Profile

West Pharmaceutical Services, Inc designs, manufactures, and sells containment and delivery systems for injectable drugs and healthcare products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Proprietary Products and Contract-Manufactured Products.