Embecta (NASDAQ:EMBC) Issues FY 2024 Earnings Guidance

Embecta (NASDAQ:EMBC) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.300-2.350 for the period, compared to the consensus EPS estimate of 2.280. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Embecta also updated its FY24 guidance to $2.30-2.35 EPS.

Embecta Stock Performance

Embecta stock traded up $1.05 during midday trading on Friday, reaching $15.39. 607,643 shares of the stock were exchanged, compared to its average volume of 425,460. Embecta has a 52 week low of $9.93 and a 52 week high of $22.16. The company’s fifty day moving average is $13.35 and its 200-day moving average is $13.40. The firm has a market cap of $887.54 million, a PE ratio of 12.72 and a beta of 0.99.

Embecta (NASDAQ:EMBC) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.26. The company had revenue of $272.50 million during the quarter, compared to the consensus estimate of $267.44 million. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, sell-side analysts anticipate that Embecta will post 2.29 earnings per share for the current fiscal year.

Embecta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, August 27th. Embecta’s dividend payout ratio (DPR) is presently 49.59%.

Analysts Set New Price Targets

Separately, Morgan Stanley cut their target price on Embecta from $13.00 to $12.00 and set an underweight rating on the stock in a research note on Monday, July 15th.

Embecta Company Profile

Embecta Corp., a medical device company, focuses on the provision of various solutions to enhance the health and wellbeing of people living with diabetes. Its products include pen needles, syringes, and safety injection devices, as well as digital applications to assist people with managing patient's diabetes.