Dr. Reddy’s Laboratories (NYSE:RDY) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Dr. Reddy’s Laboratories (NYSE:RDY) released its earnings results on Thursday. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01, Zacks reports. Dr. Reddy’s Laboratories had a net margin of 17.81% and a return on equity of 18.53%.

Dr. Reddy’s Laboratories Price Performance

NYSE:RDY opened at $14.16 on Friday. The business’s 50-day moving average is $14.87 and its 200 day moving average is $15.53. Dr. Reddy’s Laboratories has a 12 month low of $13.61 and a 12 month high of $16.89. The company has a market capitalization of $11.82 billion, a P/E ratio of 22.61 and a beta of 0.51. The company has a current ratio of 1.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.02.

Analysts Set New Price Targets

Several brokerages recently issued reports on RDY. Barclays decreased their target price on Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 6th. StockNews.com cut shares of Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Nomura lowered shares of Dr. Reddy’s Laboratories from a “buy” rating to a “neutral” rating in a research report on Thursday, December 19th.

About Dr. Reddy’s Laboratories

Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.