Embecta (NASDAQ:EMBC) Releases FY24 Earnings Guidance

Embecta (NASDAQ:EMBC) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.30-2.35 for the period, compared to the consensus earnings per share estimate of $2.28. The company issued revenue guidance of $1.111-1.116 billion, compared to the consensus revenue estimate of $1.11 billion. Embecta also updated its FY 2024 guidance to 2.300-2.350 EPS.

Wall Street Analysts Forecast Growth

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

Embecta Trading Up 7.3 %

Shares of EMBC opened at $15.39 on Friday. The company has a market cap of $887.54 million, a P/E ratio of 12.72 and a beta of 0.99. The company’s fifty day simple moving average is $13.35 and its 200-day simple moving average is $13.37. Embecta has a twelve month low of $9.93 and a twelve month high of $22.16.

Embecta (NASDAQ:EMBC) last issued its earnings results on Friday, August 9th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.26. Embecta had a net margin of 6.20% and a negative return on equity of 18.42%. The business had revenue of $272.50 million for the quarter, compared to the consensus estimate of $267.44 million. During the same period in the prior year, the firm earned $0.69 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts predict that Embecta will post 2.29 earnings per share for the current fiscal year.

Embecta Dividend Announcement

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

About Embecta

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.