Brokers Issue Forecasts for Mallinckrodt’s Q1 2018 Earnings (MNK)

Mallinckrodt (NYSE:MNK) – Investment analysts at Leerink Swann reduced their Q1 2018 EPS estimates for shares of Mallinckrodt in a note issued to investors on Monday, April 16th. Leerink Swann analyst A. Fadia now anticipates that the company will earn $1.08 per share for the quarter, down from their prior estimate of $1.11. Leerink Swann has a “Market Perform” rating and a $26.00 price target on the stock. Leerink Swann also issued estimates for Mallinckrodt’s Q2 2018 earnings at $1.53 EPS, Q3 2018 earnings at $1.73 EPS, FY2021 earnings at $5.36 EPS and FY2022 earnings at $5.45 EPS.

How to Become a New Pot Stock Millionaire

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.29. Mallinckrodt had a net margin of 66.25% and a return on equity of 13.43%. The firm had revenue of $792.30 million for the quarter, compared to analysts’ expectations of $769.91 million. During the same quarter in the prior year, the business earned $1.91 EPS. The business’s quarterly revenue was down 4.5% on a year-over-year basis.

A number of other research firms have also recently commented on MNK. Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research note on Monday, January 1st. ValuEngine cut shares of Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. SunTrust Banks started coverage on shares of Mallinckrodt in a research note on Wednesday, April 11th. They set a “hold” rating and a $15.00 target price on the stock. Canaccord Genuity set a $20.00 target price on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Tuesday, March 6th. Finally, Mizuho restated a “neutral” rating and set a $21.00 target price (down previously from $22.00) on shares of Mallinckrodt in a research note on Tuesday, January 9th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $33.89.

NYSE MNK opened at $13.86 on Tuesday. Mallinckrodt has a 12 month low of $13.32 and a 12 month high of $49.12. The company has a market cap of $1,190.77, a price-to-earnings ratio of 1.85, a PEG ratio of 0.34 and a beta of 1.12. The company has a current ratio of 2.18, a quick ratio of 1.85 and a debt-to-equity ratio of 0.98.

A number of institutional investors and hedge funds have recently made changes to their positions in MNK. Two Sigma Investments LP purchased a new stake in Mallinckrodt during the 4th quarter valued at approximately $30,841,000. Arrowstreet Capital Limited Partnership purchased a new stake in Mallinckrodt during the 4th quarter valued at approximately $30,563,000. Schroder Investment Management Group grew its holdings in Mallinckrodt by 5,506.0% during the 4th quarter. Schroder Investment Management Group now owns 1,121,200 shares of the company’s stock valued at $25,294,000 after buying an additional 1,101,200 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Mallinckrodt during the 4th quarter valued at approximately $24,007,000. Finally, LSV Asset Management grew its holdings in Mallinckrodt by 24.8% during the 4th quarter. LSV Asset Management now owns 2,621,917 shares of the company’s stock valued at $59,150,000 after buying an additional 520,697 shares in the last quarter.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.chaffeybreeze.com/2018/04/17/brokers-issue-forecasts-for-mallinckrodts-q1-2018-earnings-mnk.html.

About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

Receive News & Ratings for Mallinckrodt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mallinckrodt and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply