Analysts Expect Catalent Inc (CTLT) Will Post Quarterly Sales of $543.47 Million
Brokerages forecast that Catalent Inc (NASDAQ:CTLT) will post sales of $543.47 million for the current quarter, Zacks reports. Six analysts have provided estimates for Catalent’s earnings, with the highest sales estimate coming in at $575.60 million and the lowest estimate coming in at $521.70 million. Catalent reported sales of $532.20 million in the same quarter last year, which indicates a positive year over year growth rate of 2.1%. The business is scheduled to issue its next quarterly earnings report on Monday, September 4th.
On average, analysts expect that Catalent will report full year sales of $543.47 million for the current year, with estimates ranging from $1.98 billion to $2.03 billion. For the next financial year, analysts expect that the company will post sales of $2.13 billion per share, with estimates ranging from $2.07 billion to $2.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Catalent.
Catalent (NASDAQ:CTLT) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.02. Catalent had a return on equity of 16.95% and a net margin of 4.88%. The business had revenue of $532.60 million for the quarter, compared to analysts’ expectations of $470.95 million. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s revenue was up 21.6% on a year-over-year basis.
Several brokerages have issued reports on CTLT. TheStreet raised shares of Catalent from a “c” rating to a “b-” rating in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of Catalent from a “sell” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Tuesday. Bank of America Corporation reissued a “buy” rating and set a $37.00 target price (up from $32.00) on shares of Catalent in a research note on Wednesday, May 17th. BidaskClub cut shares of Catalent from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, William Blair upgraded shares of Catalent from a “market perform” rating to an “outperform” rating in a report on Monday, May 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.86.
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Catalent (NASDAQ:CTLT) traded up 1.16% during midday trading on Friday, hitting $35.63. The stock had a trading volume of 960,506 shares. The stock has a market cap of $4.45 billion and a PE ratio of 41.97. The firm has a 50 day moving average price of $35.84 and a 200 day moving average price of $30.01. Catalent has a one year low of $21.83 and a one year high of $38.73.
In other news, insider Sharon Johnson sold 9,160 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $29.00, for a total transaction of $265,640.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in shares of Catalent by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,884,504 shares of the company’s stock worth $81,690,000 after buying an additional 159,081 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Catalent by 15.5% in the first quarter. Macquarie Group Ltd. now owns 1,115,335 shares of the company’s stock worth $31,586,000 after buying an additional 149,564 shares in the last quarter. Gareth Morgan Investments Limited Partnership acquired a new stake in shares of Catalent during the first quarter worth about $1,925,000. Tudor Investment Corp ET AL boosted its stake in shares of Catalent by 29.8% in the first quarter. Tudor Investment Corp ET AL now owns 17,521 shares of the company’s stock worth $496,000 after buying an additional 4,021 shares in the last quarter. Finally, Redmile Group LLC acquired a new stake in shares of Catalent during the first quarter worth about $17,672,000.
Catalent Company Profile
Catalent, Inc provides delivery technologies and development solutions for drugs, biologics, and consumer and animal health products. Its segments include Softgel Technologies, Drug Delivery Solutions and Clinical Supply Services. The Softgel Technologies segment is engaged in the formulation, development and manufacturing of prescription and consumer health soft capsules or softgels.
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