$490.15 Million in Sales Expected for Catalent Inc (CTLT) This Quarter
Brokerages expect Catalent Inc (NASDAQ:CTLT) to post sales of $490.15 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Catalent’s earnings, with the lowest sales estimate coming in at $478.00 million and the highest estimate coming in at $497.40 million. Catalent posted sales of $442.20 million in the same quarter last year, which suggests a positive year over year growth rate of 10.8%. The firm is scheduled to announce its next earnings results on Monday, November 6th.
On average, analysts expect that Catalent will report full year sales of $490.15 million for the current financial year, with estimates ranging from $2.19 billion to $2.26 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.34 billion per share, with estimates ranging from $2.28 billion to $2.37 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Catalent.
Catalent (NASDAQ:CTLT) last issued its earnings results on Monday, August 28th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.08. The company had revenue of $616.90 million during the quarter, compared to analyst estimates of $547.48 million. Catalent had a net margin of 4.88% and a return on equity of 16.95%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS.
CTLT has been the subject of a number of recent research reports. Bank of America Corporation restated a “buy” rating and set a $38.00 price target (up previously from $37.00) on shares of Catalent in a research note on Friday, July 21st. BidaskClub lowered shares of Catalent from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research lowered shares of Catalent from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. William Blair upgraded shares of Catalent from a “market perform” rating to an “outperform” rating in a research note on Monday, May 15th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $45.00 target price on shares of Catalent in a research note on Tuesday, August 29th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.22.
In related news, SVP Christine Dolan sold 745 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $34.85, for a total value of $25,963.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Several large investors have recently modified their holdings of CTLT. Teachers Advisors LLC boosted its holdings in shares of Catalent by 3.0% in the 4th quarter. Teachers Advisors LLC now owns 164,748 shares of the company’s stock worth $4,442,000 after buying an additional 4,823 shares during the last quarter. Capstone Asset Management Co. boosted its holdings in shares of Catalent by 3.4% in the 1st quarter. Capstone Asset Management Co. now owns 9,900 shares of the company’s stock worth $280,000 after buying an additional 330 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in shares of Catalent by 8.0% in the 1st quarter. Nationwide Fund Advisors now owns 291,103 shares of the company’s stock worth $8,244,000 after buying an additional 21,540 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Catalent by 115.7% in the 1st quarter. Acadian Asset Management LLC now owns 5,847 shares of the company’s stock worth $166,000 after buying an additional 3,136 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its holdings in shares of Catalent by 17.7% in the 1st quarter. Glen Harbor Capital Management LLC now owns 6,328 shares of the company’s stock worth $179,000 after buying an additional 952 shares during the last quarter.
COPYRIGHT VIOLATION NOTICE: This news story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/09/07/490-15-million-in-sales-expected-for-catalent-inc-ctlt-this-quarter.html.
Shares of Catalent (CTLT) traded up 0.828% during midday trading on Thursday, hitting $42.015. 177,617 shares of the company’s stock were exchanged. Catalent has a 52 week low of $21.83 and a 52 week high of $42.22. The company has a 50-day moving average of $35.97 and a 200-day moving average of $32.99. The firm has a market cap of $5.26 billion and a price-to-earnings ratio of 48.293.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Catalent Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Catalent Inc and related companies with MarketBeat.com's FREE daily email newsletter.