$1.72 EPS Expected for Mallinckrodt PLC (NYSE:MNK) This Quarter
Wall Street brokerages forecast that Mallinckrodt PLC (NYSE:MNK) will post earnings per share of $1.72 for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Mallinckrodt PLC’s earnings, with the highest EPS estimate coming in at $1.84 and the lowest estimate coming in at $1.65. Mallinckrodt PLC reported earnings per share of $2.20 in the same quarter last year, which would indicate a negative year over year growth rate of 21.8%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Mallinckrodt PLC will report full-year earnings of $7.53 per share for the current year, with EPS estimates ranging from $7.40 to $7.80. For the next year, analysts expect that the business will post earnings of $8.40 per share, with EPS estimates ranging from $8.04 to $8.80. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Mallinckrodt PLC.
Mallinckrodt PLC (NYSE:MNK) last announced its quarterly earnings results on Monday, May 8th. The company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. The firm had revenue of $810.90 million for the quarter, compared to the consensus estimate of $781.23 million. Mallinckrodt PLC had a return on equity of 16.33% and a net margin of 16.01%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 earnings per share.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Mallinckrodt PLC from a “hold” rating to a “sell” rating in a research note on Tuesday. Wells Fargo & Company restated an “outperform” rating and set a $83.50 price target on shares of Mallinckrodt PLC in a research report on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and set a $70.00 price target on shares of Mallinckrodt PLC in a research report on Tuesday, June 20th. Cantor Fitzgerald started coverage on shares of Mallinckrodt PLC in a research report on Friday, June 16th. They set an “overweight” rating and a $52.00 price target for the company. Finally, BidaskClub raised shares of Mallinckrodt PLC from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.31.
In related news, VP Coleman N. Lannum III bought 1,968 shares of the company’s stock in a transaction on Friday, May 12th. The shares were bought at an average price of $46.20 per share, with a total value of $90,921.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Coleman N. Lannum III bought 1,350 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $42.89 per share, for a total transaction of $57,901.50. Following the transaction, the vice president now owns 30,955 shares in the company, valued at approximately $1,327,659.95. The disclosure for this purchase can be found here. Insiders have acquired a total of 5,818 shares of company stock worth $248,608 in the last three months. Insiders own 0.77% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in Mallinckrodt PLC by 4,060.7% in the first quarter. BlackRock Inc. now owns 8,734,709 shares of the company’s stock valued at $389,307,000 after buying an additional 8,524,773 shares in the last quarter. Alliancebernstein L.P. boosted its position in Mallinckrodt PLC by 1,455.5% in the first quarter. Alliancebernstein L.P. now owns 2,900,796 shares of the company’s stock worth $129,288,000 after buying an additional 2,714,313 shares in the last quarter. Norges Bank bought a new position in Mallinckrodt PLC during the fourth quarter worth $45,574,000. Hotchkis & Wiley Capital Management LLC bought a new position in Mallinckrodt PLC during the first quarter worth $36,464,000. Finally, Bank of America Corp DE boosted its position in Mallinckrodt PLC by 638.6% in the first quarter. Bank of America Corp DE now owns 746,838 shares of the company’s stock worth $33,288,000 after buying an additional 645,718 shares in the last quarter. Institutional investors and hedge funds own 96.39% of the company’s stock.
Mallinckrodt PLC (NYSE MNK) traded down 0.18% during trading on Friday, hitting $44.51. The stock had a trading volume of 1,076,269 shares. The firm has a 50 day moving average price of $42.92 and a 200-day moving average price of $47.15. The firm’s market capitalization is $4.42 billion. Mallinckrodt PLC has a 1-year low of $38.80 and a 1-year high of $85.83.
Mallinckrodt PLC Company Profile
Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
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