Baxter International (NYSE:BAX) Releases FY24 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.88-$2.98 for the period, compared to the consensus 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 Price Performance

Shares of NYSE:BAX traded down $0.02 during mid-day trading on Friday, reaching $36.89. The stock had a trading volume of 6,246,789 shares, compared to its average volume of 3,358,723. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. The company has a market cap of $18.73 billion, a P/E ratio of 7.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.64. Baxter International has a 1 year low of $31.01 and a 1 year high of $50.21. The business’s 50 day moving average price is $41.53 and its 200 day moving average price is $38.75.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts expect that Baxter International will post 2.9 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.29 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a yield of 3.14%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BAX shares. Bank of America upped their price objective on Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a research report on Tuesday, March 5th. Barclays upped their target price on Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a research note on Monday, February 12th. UBS Group cut their target price on Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. Citigroup upped their target price on Baxter International from $41.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Finally, StockNews.com raised Baxter International from a hold rating to a buy rating in a research note on Friday, January 19th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus 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.