Zacks Reiterates Neutral Rating for GlaxoSmithKline (GSK)
GlaxoSmithKline (NYSE:GSK)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday, American Banking and Market News reports. They currently have a $55.00 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 5.16% from the company’s current price.
Zacks‘ analyst wrote, “Glaxo’s fourth quarter earnings of $1.64 per ADS was above the Zacks Consensus Estimate of $1.00 and the year-ago earnings of $0.57 per ADS. Revenues were up 5% year over year at CER to $11.2 billion above the Zacks Consensus Estimate of $11.1 billion. Glaxo expects to report revenue growth of approximately 2% with core earnings growth of 4%-8% for 2014. We believe new products should continue to boost revenues in coming quarters. We are encouraged by the progress in Glaxo’s pipeline, its efforts to control cost and restructuring operations. However, we remain concerned about the challenges faced by the company in the form of generic competition and pricing pressure. Thus, we maintain a Neutral recommendation on the stock.”
A number of other firms have also recently commented on GSK. Analysts at S&P Equity Research upgraded shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a research note to investors on Monday, January 27th. Separately, analysts at Berenberg Bank downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note to investors on Friday, January 24th. Finally, analysts at Cowen and Company downgraded shares of GlaxoSmithKline from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, January 22nd. They now have a $57.00 price target on the stock. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $88.67.
Shares of GlaxoSmithKline (NYSE:GSK) traded up 0.97% during mid-day trading on Friday, hitting $52.805. 2,936,717 shares of the company’s stock traded hands. GlaxoSmithKline has a 52 week low of $43.68 and a 52 week high of $55.07. The stock has a 50-day moving average of $52.71 and a 200-day moving average of $51.88. The company has a market cap of $127.2 billion and a P/E ratio of 20.62.
GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $6.84 billion. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, analysts predict that GlaxoSmithKline will post $3.80 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, April 10th. Investors of record on Friday, February 21st will be paid a dividend of 0.7496 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Wednesday, February 19th.
GlaxoSmithKline plc (NYSE:GSK) is global healthcare group, which is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products.
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