GlaxoSmithKline (NYSE:GSK) was downgraded by stock analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report issued on Tuesday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Shares of GlaxoSmithKline (NYSE:GSK) traded down 0.13% during mid-day trading on Tuesday, hitting $52.03. GlaxoSmithKline has a one year low of $41.68 and a one year high of $54.00. The stock’s 50-day moving average is currently $51.30. The company has a market cap of $126.0 billion and a P/E ratio of 19.82.
GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, July 24th. The company reported $0.26 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.26. The company had revenue of $6.62 billion for the quarter. GlaxoSmithKline’s revenue was up 5.5% compared to the same quarter last year. Analysts expect that GlaxoSmithKline will post $3.23 EPS for the current fiscal year.
Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. GlaxoSmithKline has an average rating of “Hold” and an average price target of $87.60.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.55 per share. This represents a $2.21 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Wednesday, August 7th.
GlaxoSmithKline plc (NYSE:GSK) is global healthcare group, which is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products.
