Baxter International (NYSE:BAX) Updates Q2 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.65-$0.67 for the period, compared to the consensus earnings per share estimate of $0.68. The company issued revenue guidance of $3.74 billion, compared to the consensus revenue estimate of $3.77 billion. Baxter International also updated its FY24 guidance to $2.88-$2.98 EPS.

Wall Street Analysts Forecast Growth

BAX has been the topic of a number of recent analyst reports. UBS Group dropped their price objective on shares of Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Citigroup lifted their price target on Baxter International from $41.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Bank of America increased their price objective on Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their target price on Baxter International from $38.00 to $44.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded shares of Baxter International from a hold rating to a buy rating in a research note on Friday, January 19th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $46.30.

Baxter International Stock Performance

Shares of Baxter International stock traded down $0.02 during trading on Friday, reaching $36.89. The company’s stock had a trading volume of 6,246,789 shares, compared to its average volume of 3,358,723. The company has a 50-day moving average price of $41.53 and a two-hundred day moving average price of $38.75. Baxter International has a fifty-two week low of $31.01 and a fifty-two week high of $50.21. The firm has a market cap of $18.73 billion, a PE ratio of 7.09, a P/E/G ratio of 1.98 and a beta of 0.64. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.97%. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the business posted $0.59 earnings per share. Baxter International’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts forecast that Baxter International will post 2.9 EPS for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.29 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.