FY2019 Earnings Estimate for Mallinckrodt PLC Issued By Jefferies Financial Group (NYSE:MNK)

Mallinckrodt PLC (NYSE:MNK) – Equities research analysts at Jefferies Financial Group reduced their FY2019 earnings per share (EPS) estimates for Mallinckrodt in a research note issued to investors on Thursday, July 11th. Jefferies Financial Group analyst A. Petrone now anticipates that the company will earn $8.25 per share for the year, down from their previous forecast of $8.35. Jefferies Financial Group currently has a “Reduce” rating and a $10.00 target price on the stock. Jefferies Financial Group also issued estimates for Mallinckrodt’s Q4 2019 earnings at $2.13 EPS, FY2020 earnings at $8.50 EPS, FY2021 earnings at $8.60 EPS and FY2023 earnings at $9.07 EPS.

Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.21. The business had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $766.27 million. Mallinckrodt had a negative net margin of 118.53% and a positive return on equity of 14.22%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $1.31 EPS.

Several other equities research analysts have also recently weighed in on the stock. SunTrust Banks restated a “hold” rating and issued a $8.00 price objective on shares of TrueCar in a research report on Tuesday, May 14th. Canaccord Genuity lowered their price objective on shares of Mallinckrodt from $37.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Piper Jaffray Companies cut shares of Mallinckrodt from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $39.00 to $9.00 in a research report on Thursday, May 30th. BMO Capital Markets restated an “outperform” rating and issued a $23.00 price objective on shares of Mallinckrodt in a research report on Wednesday, May 22nd. Finally, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.56.

MNK opened at $8.59 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.90. The firm has a market cap of $693.14 million, a PE ratio of 1.07, a PEG ratio of 0.08 and a beta of 2.32. Mallinckrodt has a 1-year low of $8.00 and a 1-year high of $36.65. The company has a 50-day moving average of $9.06.

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its stake in Mallinckrodt by 222.8% during the 1st quarter. CWM LLC now owns 1,159 shares of the company’s stock worth $25,000 after acquiring an additional 800 shares during the last quarter. QS Investors LLC lifted its stake in Mallinckrodt by 14.3% in the fourth quarter. QS Investors LLC now owns 4,000 shares of the company’s stock valued at $64,000 after buying an additional 500 shares in the last quarter. Anderson Fisher LLC lifted its stake in Mallinckrodt by 1,129.1% in the first quarter. Anderson Fisher LLC now owns 5,285 shares of the company’s stock valued at $115,000 after buying an additional 4,855 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Mallinckrodt by 724.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,617 shares of the company’s stock valued at $122,000 after buying an additional 4,936 shares in the last quarter. Finally, Xact Kapitalforvaltning AB bought a new position in Mallinckrodt in the second quarter valued at approximately $185,000.

In other Mallinckrodt news, CFO Bryan M. Reasons bought 5,400 shares of Mallinckrodt stock in a transaction dated Friday, June 7th. The shares were bought at an average price of $8.96 per share, with a total value of $48,384.00. Following the purchase, the chief financial officer now owns 17,979 shares of the company’s stock, valued at $161,091.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders bought a total of 8,400 shares of company stock worth $83,234 in the last ninety days. Insiders own 2.70% of the company’s stock.

Mallinckrodt Company Profile

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.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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