West Pharmaceutical Services (NYSE:WST) Releases FY24 Earnings Guidance

West Pharmaceutical Services (NYSE:WST) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.55 to $6.75 for the period, compared to the consensus EPS estimate of $6.42. The company issued revenue guidance of $2.875 billion to $2.905 billion from $2.870 billion to $2.900, compared to the consensus revenue estimate of $2.87 billion. West Pharmaceutical Services also updated its FY 2024 guidance to 6.550-6.750 EPS.

West Pharmaceutical Services Stock Down 6.9 %

NYSE:WST opened at $307.92 on Friday. The stock has a 50-day simple moving average of $300.51 and a 200 day simple moving average of $321.78. West Pharmaceutical Services has a one year low of $265.00 and a one year high of $413.70. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 40.62, a price-to-earnings-growth 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 (NYSE:WST) last issued its earnings results on Thursday, October 24th. The medical instruments supplier reported $1.85 EPS for the quarter, topping the consensus estimate of $1.51 by $0.34. The company had revenue of $746.90 million during the quarter, compared to analyst estimates of $709.62 million. West Pharmaceutical Services had a return on equity of 19.17% and a net margin of 18.25%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 EPS. Sell-side analysts predict that West Pharmaceutical Services will post 6.42 EPS for the current fiscal year.

West Pharmaceutical Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.27%. 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. West Pharmaceutical Services’s dividend payout ratio is 11.08%.

Insider Activity

In related 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 sale, the vice president now owns 1,478 shares in the company, valued at $443,400. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

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.