Embecta (NASDAQ:EMBC – Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.300-2.350 for the period, compared to the consensus EPS estimate of 2.280. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Embecta also updated its FY24 guidance to $2.30-2.35 EPS.
Wall Street Analyst Weigh In
Separately, Morgan Stanley dropped their price target on Embecta from $13.00 to $12.00 and set an underweight rating on the stock in a research note on Monday, July 15th.
Read Our Latest Research Report on EMBC
Embecta Trading Up 7.3 %
Embecta (NASDAQ:EMBC – Get Free Report) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.26. The firm had revenue of $272.50 million for the quarter, compared to analyst estimates of $267.44 million. Embecta had a negative return on equity of 18.42% and a net margin of 6.20%. Embecta’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, equities analysts expect that Embecta will post 2.29 EPS for the current year.
Embecta Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 27th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, August 27th. Embecta’s dividend payout ratio is currently 49.59%.
Embecta Company Profile
Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.
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