Forest Laboratories (FRX) Posts Quarterly Results
Forest Laboratories (NYSE:FRX) released its earnings data on Tuesday. The company reported $0.26 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.12, StockRatingsNetwork.com reports. The company had revenue of $811.40 million for the quarter, compared to the consensus estimate of $837.40 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Forest Laboratories updated its FY14 guidance to $0.95-1.15 EPS.
Shares of Forest Laboratories (NYSE:FRX) opened at 44.31 on Tuesday. Forest Laboratories has a 52 week low of $31.71 and a 52 week high of $44.96. The stock’s 50-day moving average is $43.59 and its 200-day moving average is $41.38. The company’s market cap is $11.894 billion.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Forest Laboratories in a research note to investors on Tuesday, October 8th. They set a “neutral” rating on the stock. On the ratings front, analysts at GARP Research initiated coverage on shares of Forest Laboratories in a research note to investors on Wednesday, September 18th. They set a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Forest Laboratories in a research note to investors on Wednesday, July 24th. They now have a $46.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. Forest Laboratories has an average rating of “Buy” and an average price target of $41.80.
Forest Laboratories, Inc (NYSE:FRX) develops, manufactures and sells branded forms of ethical drug products, most of which requires a physician’s prescription.
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