) is scheduled to announce its fourth quarter and full year 2011
results on February 2, 2012, before the opening bell. The Zacks
Consensus Estimate for the fourth quarter is $1.00 (year-over-year
increase of 13.6%) on revenues of $1,408 million (year-over-year
increase of 7.6%). This is just above the company's fourth quarter
guidance of 97-99 cents per share.
As per the Zacks Consensus Estimate, for fiscal 2011, earnings
are expected to be $3.64 (year-over-year increase of 15.2%) on
revenues of $5,420 million (year-over-year increase of 11.0%). The
Zacks Consensus Estimate for 2011 is at the high end of the
guidance range of $3.62-$3.64 per share provided by the
Third Quarter Recap
Allergan reported third quarter 2011 earnings of 92 cents per
share, a penny above the Zacks Consensus Estimate and a few cents
above the guidance range of 88-90 cents. Earnings increased 17.9%
from the year-ago quarter.
Third quarter revenues increased 9.9% to $1,328 million, in line
with the Zacks Consensus Estimate. Specialty pharmaceuticals sales
increased 10.1% to $1,089.7 million, with eye care pharmaceutical
sales increasing 7.5%. Products like Lumigan and Restasis helped
drive eye care sales. A detailed discussion of third quarter
results is available
Agreement and Magnitude of Estimate Revisions
Of the 23 analysts following the stock, 1 analyst revised the
fourth quarter estimate upward and 1 trimmed the estimate in the
last 30 days. There were no revisions during the last 7 days. For
full year 2011, 1 out of 25 analysts slashed the estimate in the
past 30 days, with 1 upside revision in the same period. None of
the analysts revised their 2011 estimates in the last 7 days.
With no significant movement in estimate revisions, the Zacks
Consensus Estimate for the fourth quarter of 2011 as well as the
full year remains unchanged at $1.00 and $3.64, respectively.
Allergan has surpassed earnings estimates in three of the last
four quarters. The company recorded a minimum surprise of negative
1.12% in the fourth quarter of 2010 to a maximum of 4.05% in the
first quarter of 2011. On an average, the earnings surprise stood
at 1.55%. Fourth quarter 2011 earnings are expected to come in-line
We currently have a Neutral recommendation on Allergan, which
carries a Zacks #3 Rank (short-term Hold rating).
ALLERGAN INC (
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