PDL BioPharma Inc (PDLI) Expected to Post Earnings of $0.11 Per Share

Wall Street analysts forecast that PDL BioPharma Inc (NASDAQ:PDLI) will announce earnings of $0.11 per share for the current quarter, according to Zacks. Zero analysts have made estimates for PDL BioPharma’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.03. PDL BioPharma posted earnings of $0.01 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 1,000%. The firm is expected to announce its next earnings report on Wednesday, March 7th.

On average, analysts expect that PDL BioPharma will report full-year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $0.74. For the next financial year, analysts expect that the company will report earnings of $0.51 per share, with EPS estimates ranging from $0.10 to $0.91. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for PDL BioPharma.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. PDL BioPharma had a net margin of 24.51% and a return on equity of 9.20%. The company had revenue of $62.75 million for the quarter, compared to analyst estimates of $61.86 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year.

PDLI has been the topic of several research reports. ValuEngine lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Cowen reissued a “hold” rating and issued a $3.00 price target on shares of PDL BioPharma in a research report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $3.33.

A number of institutional investors have recently bought and sold shares of PDLI. Dynamic Technology Lab Private Ltd purchased a new position in PDL BioPharma in the 3rd quarter worth approximately $131,000. Cubist Systematic Strategies LLC grew its stake in PDL BioPharma by 64.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 49,062 shares of the biotechnology company’s stock worth $166,000 after buying an additional 19,144 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in PDL BioPharma by 141.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 53,584 shares of the biotechnology company’s stock worth $182,000 after buying an additional 31,418 shares in the last quarter. Airain ltd grew its stake in PDL BioPharma by 21.0% in the 2nd quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock worth $141,000 after buying an additional 9,893 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in PDL BioPharma by 18.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 65,612 shares of the biotechnology company’s stock worth $162,000 after buying an additional 10,189 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

PDL BioPharma (NASDAQ PDLI) traded up $0.02 during midday trading on Tuesday, hitting $2.93. 699,104 shares of the stock traded hands, compared to its average volume of 1,811,201. PDL BioPharma has a one year low of $1.96 and a one year high of $3.55. The company has a current ratio of 3.16, a quick ratio of 3.10 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $449.13, a price-to-earnings ratio of 5.75 and a beta of 0.45.

PDL BioPharma announced that its board has authorized a share buyback program on Monday, September 25th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the biotechnology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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About PDL BioPharma

PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.

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