FY2017 Earnings Estimate for GlaxoSmithKline PLC (GSK) Issued By Jefferies Group

GlaxoSmithKline PLC (NYSE:GSK) – Equities researchers at Jefferies Group lowered their FY2017 earnings estimates for GlaxoSmithKline PLC in a research note issued to investors on Tuesday. Jefferies Group analyst J. Holford now anticipates that the pharmaceutical company will earn $2.91 per share for the year, down from their previous forecast of $2.98.

Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Tuesday, October 24th. Citigroup Inc. reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. TheStreet downgraded shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Bank of America Corporation downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.33.

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Several hedge funds and other institutional investors have recently bought and sold shares of GSK. Proficio Capital Partners LLC increased its stake in shares of GlaxoSmithKline PLC by 233.0% in the first quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock worth $122,000 after acquiring an additional 1,990 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of GlaxoSmithKline PLC by 15.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock worth $124,000 after acquiring an additional 400 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of GlaxoSmithKline PLC by 1.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after acquiring an additional 64 shares during the last quarter. FTB Advisors Inc. increased its stake in shares of GlaxoSmithKline PLC by 16.9% in the second quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock worth $146,000 after acquiring an additional 539 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of GlaxoSmithKline PLC by 3.5% in the second quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock worth $162,000 after acquiring an additional 148 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 10th will be paid a $0.5037 dividend. The ex-dividend date is Thursday, November 9th. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. This represents a $2.01 dividend on an annualized basis and a dividend yield of 5.60%. GlaxoSmithKline PLC’s dividend payout ratio is 162.30%.

About GlaxoSmithKline PLC

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

Earnings History and Estimates for GlaxoSmithKline PLC (NYSE:GSK)

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