Brokers Issue Forecasts for Sanofi’s Q1 2024 Earnings (NASDAQ:SNY)

Sanofi (NASDAQ:SNY) – Stock analysts at Leerink Partnrs cut their Q1 2024 earnings per share (EPS) estimates for shares of Sanofi in a research report issued to clients and investors on Tuesday, April 16th. Leerink Partnrs analyst D. Risinger now forecasts that the company will post earnings of $0.94 per share for the quarter, down from their previous forecast of $0.98. The consensus estimate for Sanofi’s current full-year earnings is $4.16 per share. Leerink Partnrs also issued estimates for Sanofi’s FY2024 earnings at $3.97 EPS, FY2025 earnings at $4.44 EPS and FY2028 earnings at $5.34 EPS.

A number of other research firms also recently weighed in on SNY. Morgan Stanley assumed coverage on Sanofi in a research report on Tuesday, January 23rd. They set an “equal weight” rating and a $55.00 target price for the company. TheStreet downgraded Sanofi from a “b” rating to a “c” rating in a research report on Friday, February 9th. Finally, StockNews.com downgraded Sanofi from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Sanofi Stock Performance

SNY opened at $46.11 on Thursday. The business has a fifty day simple moving average of $47.55 and a 200 day simple moving average of $48.69. The company has a market capitalization of $116.64 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. Sanofi has a 1 year low of $42.63 and a 1 year high of $57.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.87.

Sanofi (NASDAQ:SNY) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.05). The firm had revenue of $11.76 billion during the quarter, compared to the consensus estimate of $13.02 billion. Sanofi had a net margin of 12.56% and a return on equity of 27.47%.

Hedge Funds Weigh In On Sanofi

A number of institutional investors have recently modified their holdings of SNY. Arrowstreet Capital Limited Partnership raised its holdings in shares of Sanofi by 276.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,362,112 shares of the company’s stock worth $172,611,000 after buying an additional 2,468,271 shares in the last quarter. Morgan Stanley raised its holdings in shares of Sanofi by 19.3% during the 4th quarter. Morgan Stanley now owns 7,733,069 shares of the company’s stock worth $374,513,000 after buying an additional 1,251,199 shares in the last quarter. Armistice Capital LLC acquired a new position in shares of Sanofi during the 4th quarter worth $51,520,000. Perceptive Advisors LLC acquired a new position in shares of Sanofi during the 1st quarter worth $41,800,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Sanofi during the 4th quarter worth $38,108,000. Institutional investors and hedge funds own 10.04% of the company’s stock.

Sanofi Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.478 per share. The ex-dividend date is Thursday, May 9th. This represents a dividend yield of 2.98%. This is a boost from Sanofi’s previous annual dividend of $1.38. Sanofi’s payout ratio is 58.47%.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.