West Pharmaceutical Services, I (NYSE:WST):
West Announces Third-Quarter 2017 Results.
The company is now up since yesterday’s close of 101.16.
Additionally West Pharmaceutical Services, I announced a dividend for shareholders to be paid on Wednesday November 1st, 2017. The dividend will be $0.140 per share for the quarter which comes to $0.56 on an annualized basis. The dividend yield will be $0.55. The ex-dividend date will be Tuesday October 17th, 2017.
West Pharmaceutical Services, Inc., launched on July 27, 1923, is a manufacturer of packaging components and delivery systems for injectable drugs and healthcare products. The Business’s products include vial containment solutions, prefillable systems, self-injection platforms, cartridge systems and components, reconstitution and transfer systems, intradermal delivery solutions, specialty components, and contract manufacturing and analytical services. The Business’s segments include Proprietary Products and Contract-Manufactured Products. The Proprietary Products segment develops commercial and operational strategies across its global network, with specific emphasis on product offerings to biologic, generic and pharmaceutical drug customers. The Contract-Manufactured Products segment serves as an integrated business focused on the design, manufacture and automated assembly of various devices, primarily for pharmaceutical, diagnostic and medical device customers..
It is currently trading at $101.35 a tad higher than the 50 day moving average of $94.77 and which is a tad above the 200 day moving average of $92.56. The 50 day moving average was up by +6.94% whereas the 200 day average was up by +9.50%.
The most current P/E ratio is 43.50 and market cap is 7.50B. In the latest earnings report the EPS was $2.33 and is estimated to be $2.71 for the current year with 74,002,000 shares currently outstanding. Next quarter’s EPS is expected be $0.78 and the next full year EPS is projected to be $2.91.
Investors are a little more bearish on shares of West Pharmaceutical Services, I recently if you watch the rise in short interest. The stock recorded a rise in short interest of 21.34% as of September 29, 2017 from the last reporting period. Short interest increased 356,521 over that period. Days to cover increased 3.0 to 6.0 and the short interest percentage is 0.03% as of September 29.
Several Wall Street investment firms have weighed in on WST. On September 15 the stock rating was upgraded to “Buy” from “Hold” and a price target of $115.00 was set in a report from Jefferies. Equity analyst Jefferies both upgraded the stock and raised the price target on September 15 changing the price objective from $55.00 to $115.00 and raising the rating from “Hold” to “Buy”.
Equity analyst Stephens & Co. added the stock to its research portfolio giving it an initial rating of “Equal-Weight”.