West Pharmaceutical Services (NYSE:WST – Get Free Report) announced its earnings results on Thursday. The medical instruments supplier reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.34, Briefing.com reports. The firm had revenue of $746.90 million during the quarter, compared to analyst estimates 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 revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned $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 Stock Down 6.9 %
NYSE WST traded down $22.73 during trading hours on Friday, hitting $307.92. 1,486,236 shares of the company traded hands, compared to its average volume of 563,827. The stock has a market capitalization of $22.34 billion, a price-to-earnings ratio of 44.52, a P/E/G ratio of 10.21 and a beta of 1.01. West Pharmaceutical Services has a twelve month low of $265.00 and a twelve month high of $413.70. The business’s 50-day moving average is $300.36 and its 200-day moving average is $322.86. 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 Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th will be paid a $0.21 dividend. This is a boost from West Pharmaceutical Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.84 annualized dividend and a yield of 0.27%. West Pharmaceutical Services’s payout ratio is presently 11.38%.
Insider Activity at West Pharmaceutical Services
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.
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