GSK (NYSE:GSK) Issues FY 2024 Earnings Guidance

GSK (NYSE:GSK - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.710-1.740 for the period, compared to the consensus estimate of 4.060. The company issued revenue guidance of $40.9 billion-$41.7 billion, compared to the consensus revenue estimate of $41.5 billion.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GSK. UBS Group lowered shares of GSK from a "buy" rating to a "neutral" rating in a report on Monday, July 8th. Jefferies Financial Group raised their price objective on shares of GSK from $52.50 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, July 2nd. Barclays upgraded shares of GSK to a "hold" rating in a research note on Tuesday, August 27th. Finally, Argus upgraded shares of GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, GSK presently has a consensus rating of "Buy" and a consensus price target of $50.00.

GSK Price Performance

NYSE:GSK traded down $1.16 on Wednesday, hitting $37.01. The company had a trading volume of 13,419,436 shares, compared to its average volume of 3,804,305. The stock has a market capitalization of $76.70 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.23 and a beta of 0.65. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $40.88 and a two-hundred day moving average of $41.08. GSK has a 52 week low of $33.67 and a 52 week high of $45.92.

GSK (NYSE:GSK - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. GSK had a net margin of 12.87% and a return on equity of 51.48%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.49 billion. On average, research analysts anticipate that GSK will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.3843 per share. The ex-dividend date was Friday, August 16th. This is a boost from GSK's previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 4.15%. GSK's dividend payout ratio is 55.80%.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm's stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is currently owned by corporate insiders.

About GSK

GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, and specialty and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through two segments, Commercial Operations and Total R&D.