Wall Street analysts expect GlaxoSmithKline plc (NYSE:GSK) to post $0.64 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for GlaxoSmithKline’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.72. GlaxoSmithKline reported earnings of $0.65 per share during the same quarter last year, which would indicate a negative year over year growth rate of 1.5%. The business is expected to issue its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that GlaxoSmithKline will report full year earnings of $2.89 per share for the current financial year, with EPS estimates ranging from $2.76 to $3.00. For the next fiscal year, analysts expect that the firm will report earnings of $2.81 per share, with EPS estimates ranging from $2.72 to $3.01. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for GlaxoSmithKline.
Several analysts have issued reports on GSK shares. BidaskClub upgraded GlaxoSmithKline from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Argus restated a “buy” rating and set a $50.00 price objective on shares of GlaxoSmithKline in a research note on Thursday, August 31st. Morgan Stanley cut GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 8th. J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline in a research note on Thursday, September 14th. Finally, Zacks Investment Research upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. GlaxoSmithKline presently has a consensus rating of “Hold” and a consensus price target of $39.71.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 10th will be issued a dividend of $0.5037 per share. The ex-dividend date is Thursday, November 9th. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.01 annualized dividend and a dividend yield of 5.81%. GlaxoSmithKline’s dividend payout ratio is 163.12%.
In related news, major shareholder Plc Glaxosmithkline bought 428,571 shares of the stock in a transaction dated Monday, November 6th. The stock was bought at an average cost of $14.00 per share, with a total value of $5,999,994.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of GSK. FMR LLC grew its position in shares of GlaxoSmithKline by 5.9% in the second quarter. FMR LLC now owns 25,024,276 shares of the pharmaceutical company’s stock valued at $1,079,047,000 after purchasing an additional 1,389,238 shares during the last quarter. Fisher Asset Management LLC lifted its stake in GlaxoSmithKline by 2.3% during the third quarter. Fisher Asset Management LLC now owns 12,828,251 shares of the pharmaceutical company’s stock worth $520,827,000 after purchasing an additional 293,866 shares during the period. Renaissance Technologies LLC lifted its stake in GlaxoSmithKline by 112.1% during the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in GlaxoSmithKline by 7.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,416,927 shares of the pharmaceutical company’s stock worth $341,727,000 after purchasing an additional 569,600 shares during the period. Finally, Federated Investors Inc. PA lifted its stake in GlaxoSmithKline by 22.7% during the second quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock worth $194,521,000 after purchasing an additional 833,501 shares during the period. 9.83% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: “GlaxoSmithKline plc (GSK) Expected to Announce Earnings of $0.64 Per Share” was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.chaffeybreeze.com/2017/12/06/glaxosmithkline-plc-gsk-expected-to-announce-earnings-of-0-64-per-share.html.
GlaxoSmithKline Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GlaxoSmithKline plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline plc and related companies with MarketBeat.com's FREE daily email newsletter.