Mallinckrodt PLC (MNK) Expected to Announce Earnings of $1.75 Per Share

Wall Street analysts expect that Mallinckrodt PLC (NYSE:MNK) will post earnings per share of $1.75 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Mallinckrodt’s earnings, with the highest EPS estimate coming in at $1.83 and the lowest estimate coming in at $1.70. Mallinckrodt posted earnings of $1.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 33.6%. The company is scheduled to issue its next earnings report before the market opens on Tuesday, May 7th.

According to Zacks, analysts expect that Mallinckrodt will report full year earnings of $8.20 per share for the current financial year, with EPS estimates ranging from $8.10 to $8.29. For the next financial year, analysts anticipate that the company will post earnings of $7.99 per share, with EPS estimates ranging from $6.32 to $8.79. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Mallinckrodt.

Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, February 26th. The company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. Mallinckrodt had a positive return on equity of 11.14% and a negative net margin of 134.63%. The firm had revenue of $834.90 million for the quarter, compared to analysts’ expectations of $681.45 million. During the same quarter in the prior year, the firm earned $2.01 EPS. Mallinckrodt’s quarterly revenue was up 5.4% on a year-over-year basis.

Several research firms have recently issued reports on MNK. ValuEngine upgraded Mallinckrodt from a “sell” rating to a “hold” rating in a report on Monday, February 4th. B. Riley decreased their price objective on Mallinckrodt to $21.00 and set a “neutral” rating on the stock in a report on Monday, December 31st. SunTrust Banks began coverage on Mallinckrodt in a report on Tuesday, March 19th. They set a “hold” rating and a $23.00 price objective on the stock. Morgan Stanley set a $32.00 target price on Mallinckrodt and gave the company a “hold” rating in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded Mallinckrodt from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a report on Tuesday, January 8th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $30.88.

A number of institutional investors have recently modified their holdings of the stock. Martingale Asset Management L P raised its position in Mallinckrodt by 52.7% in the third quarter. Martingale Asset Management L P now owns 75,456 shares of the company’s stock valued at $2,212,000 after purchasing an additional 26,030 shares during the period. Renaissance Technologies LLC purchased a new position in Mallinckrodt in the third quarter valued at about $18,621,000. Dynamic Technology Lab Private Ltd purchased a new position in Mallinckrodt in the third quarter valued at about $302,000. Man Group plc raised its position in Mallinckrodt by 57.8% in the third quarter. Man Group plc now owns 346,233 shares of the company’s stock valued at $10,148,000 after purchasing an additional 126,804 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Mallinckrodt in the third quarter valued at about $691,000.

Shares of MNK stock traded down $0.28 during mid-day trading on Monday, hitting $17.95. 148,586 shares of the company’s stock were exchanged, compared to its average volume of 1,323,644. Mallinckrodt has a fifty-two week low of $11.65 and a fifty-two week high of $36.65. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 2.10. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 2.24, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29.

About Mallinckrodt

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

See Also: Cost of equity and a company’s balance sheet

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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