$3.77 Billion in Sales Expected for Shire PLC (SHPG) This Quarter
Brokerages expect Shire PLC (NASDAQ:SHPG) to report $3.77 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Shire PLC’s earnings. The lowest sales estimate is $3.73 billion and the highest is $3.80 billion. Shire PLC posted sales of $3.45 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.3%. The firm is scheduled to report its next quarterly earnings results before the market opens on Friday, October 27th.
On average, analysts expect that Shire PLC will report full year sales of $3.77 billion for the current fiscal year, with estimates ranging from $15.00 billion to $15.14 billion. For the next financial year, analysts anticipate that the business will report sales of $15.92 billion per share, with estimates ranging from $15.35 billion to $16.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Shire PLC.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results on Friday, October 27th. The biopharmaceutical company reported $3.37 EPS for the quarter, missing analysts’ consensus estimates of $3.66 by $0.29. Shire PLC had a net margin of 4.70% and a return on equity of 14.10%.
Several equities research analysts recently issued reports on SHPG shares. HSBC Holdings plc cut Shire PLC from a “hold” rating to a “reduce” rating in a report on Friday, May 19th. Royal Bank Of Canada set a $221.00 target price on Shire PLC and gave the stock a “buy” rating in a report on Thursday, May 18th. Sanford C. Bernstein cut Shire PLC from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $209.22 to $161.09 in a report on Thursday, May 25th. Cowen and Company restated an “outperform” rating and set a $325.00 target price on shares of Shire PLC in a report on Wednesday, May 31st. Finally, Liberum Capital cut Shire PLC from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $220.08.
A number of hedge funds and other institutional investors have recently made changes to their positions in SHPG. Macquarie Group Ltd. raised its position in Shire PLC by 2.2% in the fourth quarter. Macquarie Group Ltd. now owns 1,417 shares of the biopharmaceutical company’s stock valued at $241,000 after purchasing an additional 31 shares during the period. Great West Life Assurance Co. Can raised its position in Shire PLC by 3.0% in the first quarter. Great West Life Assurance Co. Can now owns 49,868 shares of the biopharmaceutical company’s stock valued at $8,754,000 after purchasing an additional 1,434 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Shire PLC by 20.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,498 shares of the biopharmaceutical company’s stock valued at $609,000 after purchasing an additional 603 shares during the period. Eqis Capital Management Inc. purchased a new stake in Shire PLC in the first quarter valued at approximately $214,000. Finally, American Century Companies Inc. raised its position in Shire PLC by 3.7% in the first quarter. American Century Companies Inc. now owns 88,444 shares of the biopharmaceutical company’s stock valued at $15,410,000 after purchasing an additional 3,152 shares during the period. 19.13% of the stock is currently owned by institutional investors.
Shire PLC (NASDAQ:SHPG) opened at 160.08 on Friday. The company has a market capitalization of $47.68 billion, a price-to-earnings ratio of 71.62 and a beta of 1.61. Shire PLC has a 52 week low of $139.36 and a 52 week high of $209.22. The company’s 50-day moving average price is $154.35 and its 200-day moving average price is $169.61.
The company also recently announced a semiannual dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, September 8th will be given a $0.1527 dividend. This represents a yield of 0.21%. The ex-dividend date is Thursday, September 7th. Shire PLC’s payout ratio is 41.07%.
About Shire PLC
Shire plc is a biotech company focused on serving people with rare diseases and other specialized conditions. The Company’s segment is engaged in research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines. It focuses its development resources on projects in various therapeutic areas (TAs), including Neuroscience, Ophthalmology, Hematology, Oncology, Immunology, Gastrointestinal (GI)/Metabolic/Endocrinology Diseases.
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