Baxter International Inc. (BAX) to Issue Quarterly Dividend of $0.17 on January 2nd

Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Monday, November 11th,RTT News reports. Investors of record on Friday, November 29th will be given a dividend of 0.17 per share by the medical instruments supplier on Thursday, January 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, November 29th.

Baxter International has increased its dividend payment by an average of 6.7% annually over the last three years. Baxter International has a dividend payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Baxter International to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.2%.

Baxter International Price Performance

Shares of NYSE BAX opened at $32.88 on Wednesday. The company’s fifty day moving average is $35.93 and its two-hundred day moving average is $35.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The firm has a market capitalization of $16.79 billion, a P/E ratio of 164.38, a PEG ratio of 13.27 and a beta of 0.60. Baxter International has a one year low of $31.60 and a one year high of $44.01.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. Analysts forecast that Baxter International will post 1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Citigroup lifted their price objective on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Stifel Nicolaus lowered their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a report on Monday, November 11th. The Goldman Sachs Group raised their target price on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $40.91.

About Baxter International

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.