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

West Pharmaceutical Services (NYSE:WST) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $6.55 to $6.75 for the period, compared to the consensus 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 Trading Up 15.4 %

Shares of West Pharmaceutical Services stock traded up $44.21 on Thursday, reaching $330.65. The company had a trading volume of 1,983,070 shares, compared to its average volume of 558,379. The firm’s 50 day moving average price is $299.60 and its two-hundred day moving average price is $322.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.68 and a current ratio of 2.34. West Pharmaceutical Services has a 52-week low of $265.00 and a 52-week high of $413.70. The firm has a market cap of $23.99 billion, a PE ratio of 47.03, a PEG ratio of 10.21 and a beta of 1.01.

West Pharmaceutical Services (NYSE:WST) last announced its earnings results on Thursday, July 25th. The medical instruments supplier reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.22). West Pharmaceutical Services had a net margin of 18.25% and a return on equity of 19.17%. The firm had revenue of $702.10 million during the quarter, compared to analysts’ expectations of $729.36 million. During the same period in the previous year, the firm earned $2.11 EPS. The firm’s revenue for the quarter was down 6.9% compared to the same quarter last year. Sell-side analysts predict that West Pharmaceutical Services will post 6.42 earnings per share for the current fiscal year.

Insider Activity

In other West Pharmaceutical Services news, VP Charles Witherspoon sold 1,029 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $300.00, for a total value of $308,700.00. Following the sale, the vice president now owns 1,478 shares of the company’s stock, valued at $443,400. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.53% of the company’s stock.

About West Pharmaceutical Services

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.