West Pharmaceutical Services (NYSE:WST) Issues Quarterly Earnings Results

by · The Cerbat Gem

West Pharmaceutical Services (NYSE:WST – Get Free Report) announced its quarterly earnings data on Thursday. The medical instruments supplier reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.34, Briefing.com reports. The firm had revenue of $746.90 million during the quarter, compared to analysts’ expectations of $709.62 million. West Pharmaceutical Services had a return on equity of 19.17% and a net margin of 18.25%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 EPS. West Pharmaceutical Services updated its FY 2024 guidance to 6.550-6.750 EPS and its FY24 guidance to $6.55 to $6.75 EPS.

West Pharmaceutical Services Trading Down 6.9 %

Shares of West Pharmaceutical Services stock traded down $22.73 during trading on Friday, hitting $307.92. 1,486,236 shares of the company were exchanged, compared to its average volume of 563,827. The firm has a market capitalization of $22.34 billion, a P/E ratio of 44.52, a price-to-earnings-growth ratio of 10.21 and a beta of 1.01. West Pharmaceutical Services has a 1-year low of $265.00 and a 1-year high of $413.70. The firm’s fifty day moving average price is $300.36 and its 200 day moving average price is $322.86. 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.21 per share. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Wednesday, November 13th. West Pharmaceutical Services’s payout ratio is presently 11.38%.

Insider Transactions at West Pharmaceutical Services

In related news, VP Charles Witherspoon sold 1,029 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $300.00, for a total value of $308,700.00. Following the completion of the transaction, the vice president now directly owns 1,478 shares in the company, valued at approximately $443,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

West Pharmaceutical Services Company Profile

(Get Free Report)

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.

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