Baxter International (NYSE:BAX) Updates FY24 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.88-$2.98 for the period, compared to the consensus earnings per share estimate of $2.90. The company issued revenue guidance of $15.1 billion, compared to the consensus revenue estimate of $15.10 billion. Baxter International also updated its Q2 guidance to $0.65-$0.67 EPS.

Baxter International Trading Down 0.1 %

BAX stock opened at $40.34 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48. Baxter International has a one year low of $31.01 and a one year high of $50.21. The company’s 50 day moving average price is $41.74 and its two-hundred day moving average price is $38.72. The company has a market capitalization of $20.49 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 2.17 and a beta of 0.64.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts predict that Baxter International will post 2.89 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 29th. Baxter International’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BAX. JPMorgan Chase & Co. lifted their target price on shares of Baxter International from $38.00 to $44.00 and gave the stock a neutral rating in a research note on Friday, February 9th. StockNews.com raised shares of Baxter International from a hold rating to a buy rating in a research note on Friday, January 19th. Barclays lifted their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a report on Monday, February 12th. Bank of America lifted their price target on shares of Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, March 5th. Finally, UBS Group cut their price target on shares of Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $46.30.

About Baxter International

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.