$0.08 EPS Expected for PDL BioPharma, Inc. (PDLI) This Quarter
Equities research analysts expect PDL BioPharma, Inc. (NASDAQ:PDLI) to post earnings of $0.08 per share for the current quarter, according to Zacks. Zero analysts have made estimates for PDL BioPharma’s earnings, with estimates ranging from $0.05 to $0.10. PDL BioPharma posted earnings of $0.11 per share in the same quarter last year, which would indicate a negative year over year growth rate of 27.3%. The business is expected to report its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that PDL BioPharma will report full year earnings of $0.38 per share for the current fiscal year, with EPS estimates ranging from $0.15 to $0.60. For the next year, analysts expect that the firm will report earnings of $0.31 per share, with EPS estimates ranging from $0.05 to $0.56. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover PDL BioPharma.
PDL BioPharma (NASDAQ:PDLI) last issued its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.17. PDL BioPharma had a net margin of 23.03% and a return on equity of 9.07%. The firm had revenue of $143.80 million during the quarter, compared to the consensus estimate of $56.30 million. During the same period in the prior year, the firm earned $0.09 EPS. The business’s revenue was up 584.8% on a year-over-year basis.
PDLI has been the topic of several research reports. ValuEngine upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating in a report on Friday, August 4th. BidaskClub downgraded shares of PDL BioPharma from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research upgraded shares of PDL BioPharma from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Cowen and Company reiterated a “hold” rating on shares of PDL BioPharma in a report on Wednesday, May 3rd. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $4.00 price objective on shares of PDL BioPharma in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. PDL BioPharma presently has a consensus rating of “Buy” and a consensus price target of $3.50.
Shares of PDL BioPharma (NASDAQ PDLI) traded down 2.15% during mid-day trading on Thursday, reaching $2.73. 1,664,209 shares of the company’s stock were exchanged. PDL BioPharma has a 52-week low of $1.93 and a 52-week high of $3.77. The stock’s 50-day moving average is $2.47 and its 200-day moving average is $2.30. The stock has a market cap of $420.64 million, a price-to-earnings ratio of 6.28 and a beta of 0.58.
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Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in PDL BioPharma by 15.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,282,180 shares of the biotechnology company’s stock valued at $9,078,000 after buying an additional 582,265 shares in the last quarter. HPM Partners LLC bought a new position in PDL BioPharma during the first quarter valued at approximately $163,000. Seizert Capital Partners LLC bought a new position in PDL BioPharma during the first quarter valued at approximately $2,706,000. Norges Bank bought a new position in PDL BioPharma during the fourth quarter valued at approximately $5,068,000. Finally, Brandes Investment Partners LP bought a new position in PDL BioPharma during the first quarter valued at approximately $133,000. Hedge funds and other institutional investors own 87.72% of the company’s stock.
About PDL BioPharma
PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.
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