Brokerages expect GlaxoSmithKline PLC (NYSE:GSK) to announce sales of $9.52 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for GlaxoSmithKline PLC’s earnings, with the lowest sales estimate coming in at $9.39 billion and the highest estimate coming in at $9.65 billion. GlaxoSmithKline PLC posted sales of $9.22 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.3%. The company is expected to issue its next quarterly earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that GlaxoSmithKline PLC will report full-year sales of $9.52 billion for the current fiscal year, with estimates ranging from $38.85 billion to $39.63 billion. For the next fiscal year, analysts forecast that the firm will report sales of $40.30 billion per share, with estimates ranging from $39.84 billion to $40.76 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover GlaxoSmithKline PLC.

GlaxoSmithKline PLC (NYSE:GSK) last announced its quarterly earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.62. The firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.09 billion. GlaxoSmithKline PLC had a net margin of 5.48% and a return on equity of 113.31%.

Several equities analysts recently weighed in on the stock. BNP Paribas upgraded shares of GlaxoSmithKline PLC from an “underperform” rating to a “neutral” rating and cut their price target for the stock from $45.58 to $37.20 in a report on Wednesday, April 5th. Citigroup Inc. downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Wednesday, May 31st. Exane BNP Paribas upgraded shares of GlaxoSmithKline PLC from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 5th. Finally, Zacks Investment Research lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.00.

Shares of GlaxoSmithKline PLC (GSK) traded down 2.5183% during mid-day trading on Wednesday, hitting $40.9033. 1,863,654 shares of the stock were exchanged. The stock has a market cap of $99.93 billion, a PE ratio of 45.7531 and a beta of 1.04. The stock’s 50 day moving average is $43.17 and its 200-day moving average is $41.77. GlaxoSmithKline PLC has a 12 month low of $37.20 and a 12 month high of $45.58.

TRADEMARK VIOLATION WARNING: “$9.52 Billion in Sales Expected for GlaxoSmithKline PLC (GSK) This Quarter” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/07/26/9-52-billion-in-sales-expected-for-glaxosmithkline-plc-gsk-this-quarter.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of GlaxoSmithKline PLC by 11.7% in the first quarter. FMR LLC now owns 23,635,038 shares of the pharmaceutical company’s stock worth $996,452,000 after buying an additional 2,482,009 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of GlaxoSmithKline PLC by 87,023.5% in the first quarter. Thrivent Financial For Lutherans now owns 1,373,066 shares of the pharmaceutical company’s stock worth $57,884,000 after buying an additional 1,371,490 shares during the period. Renaissance Technologies LLC increased its stake in shares of GlaxoSmithKline PLC by 42.7% in the first quarter. Renaissance Technologies LLC now owns 4,402,100 shares of the pharmaceutical company’s stock worth $185,593,000 after buying an additional 1,316,600 shares during the period. Bank of America Corp DE increased its stake in shares of GlaxoSmithKline PLC by 15.8% in the first quarter. Bank of America Corp DE now owns 6,849,632 shares of the pharmaceutical company’s stock worth $288,780,000 after buying an additional 934,928 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of GlaxoSmithKline PLC by 4.7% in the second quarter. Fisher Asset Management LLC now owns 12,534,385 shares of the pharmaceutical company’s stock worth $540,483,000 after buying an additional 564,519 shares during the period. 8.98% of the stock is owned by hedge funds and other institutional investors.

About GlaxoSmithKline PLC

GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.

Get a free copy of the Zacks research report on GlaxoSmithKline PLC (GSK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for GlaxoSmithKline PLC (NYSE:GSK)

Receive News & Ratings for GlaxoSmithKline PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline PLC and related companies with MarketBeat.com's FREE daily email newsletter.