West Pharmaceutical Services (NYSE:WST) Updates 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 Stock Performance

West Pharmaceutical Services stock traded down $22.73 during midday trading on Friday, reaching $307.92. 1,538,217 shares of the company’s stock were exchanged, compared to its average volume of 563,827. The stock’s 50-day simple moving average is $300.51 and its 200 day simple moving average is $322.27. The firm has a market cap of $22.43 billion, a price-to-earnings ratio of 40.62, a P/E/G ratio of 10.21 and a beta of 1.01. 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 has a 52 week low of $265.00 and a 52 week high of $413.70.

West Pharmaceutical Services (NYSE:WST) last released its quarterly earnings data on Thursday, October 24th. The medical instruments supplier reported $1.85 EPS for the quarter, beating the consensus estimate of $1.51 by $0.34. The firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 earnings per share. On average, analysts expect that West Pharmaceutical Services will post 6.42 earnings per share for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.27%. This is a positive change from West Pharmaceutical Services’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, November 13th. West Pharmaceutical Services’s dividend payout ratio is currently 11.08%.

Insiders Place Their Bets

In other news, VP Charles Witherspoon sold 1,029 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $300.00, for a total transaction of $308,700.00. Following the completion of the sale, the vice president now owns 1,478 shares of the company’s stock, valued at approximately $443,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

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.