Medical products maker Baxter International Inc. (
BAX ) on Thursday posted mixed third quarter
earnings results and provided an in-line fourth quarter
The Deerfield, IL-based company reported third quarter net
income of $583 million, or $1.06 per share, compared with $576
million, or $1.01 per share, in the year-ago period. Excluding
one-time items, adjusted profit was $1.14 per share.
Revenue edged slightly lower from last year to $3.48
On average, Wall Street analysts expected a matching profit of
$1.14 per share, on slightly higher revenue of $3.52 billion.
Looking ahead, BAX forecast Q4 earnings of $1.24 to $1.27 per
share, while analysts are looking for $1.26. For the full year,
Baxter now expects earnings of $4.51 to $4.54 per share, narrowed
from a prior outlook of $4.50 to $4.56.
Baxter International shares were mostly flat in premarket
The Bottom Line
Shares of Baxter International ( BAX ) have a
2.91% dividend yield, based on last night's closing stock price of
$61.92. The stock has technical support in the $56-$58 price area.
The stock is trading near all-time highs of $65-$69 a share.
Baxter International Inc. ( BAX ) is not
recommended at this time, holding a Dividend.com DARS™ Rating of
3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks , as well
as a detailed explanation of our ratings system here .
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