West Pharmaceutical Services (NYSE:WST) Issues FY 2024 Earnings Guidance

West Pharmaceutical Services (NYSE:WST) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 6.550-6.750 for the period, compared to the consensus estimate of 6.510. The company issued revenue guidance of $2.9 billion-$2.9 billion, compared to the consensus revenue estimate of $2.9 billion. West Pharmaceutical Services also updated its FY24 guidance to $6.55 to $6.75 EPS.

West Pharmaceutical Services Price Performance

Shares of NYSE:WST traded down $22.73 on Friday, hitting $307.92. The company had a trading volume of 1,486,236 shares, compared to its average volume of 563,827. The company has a market cap of $22.34 billion, a PE ratio of 44.52, a PEG ratio of 10.21 and a beta of 1.01. The business has a 50 day moving average of $300.36 and a 200 day moving average of $322.86. West Pharmaceutical Services has a 52-week low of $265.00 and a 52-week high of $413.70. The company has a current ratio of 2.34, a quick ratio of 1.68 and a debt-to-equity ratio of 0.03.

West Pharmaceutical Services (NYSE:WST) last announced its quarterly earnings data on Thursday, October 24th. The medical instruments supplier reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.34. The business had revenue of $746.90 million for the quarter, compared to the consensus estimate of $709.62 million. West Pharmaceutical Services had a net margin of 18.25% and a return on equity of 19.17%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.16 earnings per share. As a group, equities analysts anticipate that West Pharmaceutical Services will post 6.42 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.27%. This is an increase from West Pharmaceutical Services’s previous quarterly dividend of $0.20. West Pharmaceutical Services’s payout ratio is currently 11.38%.

Insider Buying and Selling

In other news, VP Charles Witherspoon sold 1,029 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $300.00, for a total transaction of $308,700.00. Following the transaction, the vice president now directly owns 1,478 shares in the company, valued at $443,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

West Pharmaceutical Services Company Profile

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.