Mallinckrodt PLC (NYSE:MNK) Expected to Announce Earnings of $2.01 Per Share

Analysts forecast that Mallinckrodt PLC (NYSE:MNK) will post $2.01 earnings per share for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Mallinckrodt’s earnings, with the lowest EPS estimate coming in at $1.90 and the highest estimate coming in at $2.09. Mallinckrodt posted earnings per share of $2.10 during the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The firm is expected to report its next earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Mallinckrodt will report full-year earnings of $8.48 per share for the current year, with EPS estimates ranging from $8.28 to $8.61. For the next fiscal year, analysts forecast that the firm will post earnings of $7.23 per share, with EPS estimates ranging from $5.54 to $8.50. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Mallinckrodt.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.43. The company had revenue of $823.30 million during the quarter, compared to the consensus estimate of $817.55 million. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 earnings per share.

Several research analysts have recently issued reports on MNK shares. Leerink Swann set a $2.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a report on Friday, September 6th. Canaccord Genuity lowered their price target on shares of Mallinckrodt from $37.00 to $22.00 and set a “buy” rating for the company in a report on Friday, June 14th. Barclays set a $5.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a report on Tuesday. Jefferies Financial Group set a $2.00 price target on shares of Mallinckrodt and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Mallinckrodt from $22.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.19.

Shares of NYSE:MNK traded up $0.31 during trading on Friday, hitting $3.30. 17,227,845 shares of the company were exchanged, compared to its average volume of 4,059,345. The business’s 50 day moving average is $4.50 and its 200-day moving average is $12.57. The company has a market capitalization of $325.95 million, a P/E ratio of 0.41, a price-to-earnings-growth ratio of 0.04 and a beta of 2.42. The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 1.57. Mallinckrodt has a 1-year low of $1.43 and a 1-year high of $32.34.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Mallinckrodt by 0.3% in the second quarter. BlackRock Inc. now owns 9,929,685 shares of the company’s stock valued at $91,155,000 after purchasing an additional 28,512 shares during the period. Vanguard Group Inc. increased its holdings in Mallinckrodt by 18.4% in the second quarter. Vanguard Group Inc. now owns 9,809,305 shares of the company’s stock valued at $90,049,000 after purchasing an additional 1,527,591 shares during the period. Dimensional Fund Advisors LP increased its holdings in Mallinckrodt by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock valued at $100,443,000 after purchasing an additional 840,414 shares during the period. LSV Asset Management increased its holdings in Mallinckrodt by 1.4% in the first quarter. LSV Asset Management now owns 4,149,268 shares of the company’s stock valued at $90,205,000 after purchasing an additional 58,300 shares during the period. Finally, Morgan Stanley increased its holdings in Mallinckrodt by 1,395.5% in the second quarter. Morgan Stanley now owns 3,275,676 shares of the company’s stock valued at $30,071,000 after purchasing an additional 3,056,636 shares during the period.

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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