Stock Update: Baxter International Inc (NYSE:BAX) – Baxter Raises Quarterly Dividend

[Business Wire] – Baxter International Inc. announced today that its Board of Directors has declared a 13 percent increase in the company’s quarterly dividend rate, from the previous rate of $0.115 per Baxter common share to $0.13 per share. Read more on this. Baxter International Inc. (BAX) , valued at $24.55B, finished yesterday at $44.71. Today, shares have traded between $44.31 and $44.63 per share and has traded between $32.18 and $44.78 over the past year. Priced at 27.13x this year’s forecasted earnings, BAX shares are relatively expensive compared to the industry’s 4.45x forward p/e ratio. And for dividend hunters, the company pays shareholders $0.46 per share annually in dividends, yielding 1.04%. Consensus earnings for the current quarter by the 13 sell-side analysts covering the stock is an estimate of $0.39 per share, which would be $0.20 better than the year-ago quarter and a $0.04 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $1.63, which would be a $0.25 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.51 Billion. If realized, that would be a 35.48% decrease over the year-ago quarter. More recently, Piper Jaffray upgraded BAX from Neutral to Overweight (Apr 14, 2016). Previously, Leerink Partners downgraded BAX from Outperform to Mkt Perform. Given all the information above, we should disclose to readers that the average price target is $47.56, which is 6.37% above than it opened this morning. See more in (NYSE:BAX) Similar Articles: Stock Update: Baxter International Inc (NYSE:BAX) – Baxter Announces U.S. Launch of Premix Drug VANCOMYCIN Injection in Sodium Chloride Company Update: Baxter International Inc (NYSE:BAX) – Baxter International to Host 2016 Investor Conference Company Update: Baxter International Inc (NYSE:BAX) – Baxter International Inc. to Host First Quarter 2016 Financial Results Webcast/Conference Call for Investors