Baxter International (NYSE:BAX) Issues FY 2024 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.930-3.010 for the period, compared to the consensus earnings per share estimate of 2.920. The company issued revenue guidance of $15.3 billion-$15.3 billion, compared to the consensus revenue estimate of $15.1 billion. Baxter International also updated its FY24 guidance to $2.93-3.01 EPS.

Baxter International Trading Up 6.6 %

NYSE BAX opened at $36.93 on Wednesday. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.31. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. The company has a market cap of $18.82 billion, a price-to-earnings ratio of 7.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The business’s fifty day moving average is $34.32 and its 200 day moving average is $37.92.

Baxter International (NYSE:BAX) last posted its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share. As a group, sell-side analysts expect that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.14%. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BAX shares. The Goldman Sachs Group began coverage on shares of Baxter International in a research note on Thursday, May 30th. They issued a neutral rating and a $36.00 price target on the stock. Evercore ISI dropped their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Morgan Stanley downgraded shares of Baxter International from an equal weight rating to an underweight rating and reduced their price objective for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. Citigroup decreased their price objective on shares of Baxter International from $38.00 to $37.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. Finally, TD Cowen downgraded Baxter International from a buy rating to a hold rating and set a $40.00 price target on the stock. in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $41.70.

Baxter International Company Profile

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.