PDL BioPharma, Inc. (PDLI) Expected to Announce Earnings of $0.13 Per Share
Wall Street brokerages expect PDL BioPharma, Inc. (NASDAQ:PDLI) to announce earnings of $0.13 per share for the current quarter, Zacks reports. Zero analysts have made estimates for PDL BioPharma’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.10. PDL BioPharma reported earnings of $0.11 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.2%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that PDL BioPharma will report full year earnings of $0.69 per share for the current year, with EPS estimates ranging from $0.60 to $0.77. For the next financial year, analysts forecast that the company will post earnings of $0.63 per share, with EPS estimates ranging from $0.05 to $1.20. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover PDL BioPharma.
PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.09 by $0.17. The business had revenue of $143.80 million for the quarter, compared to analysts’ expectations of $56.30 million. PDL BioPharma had a net margin of 23.03% and a return on equity of 9.07%. The firm’s revenue was up 584.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS.
A number of equities research analysts have commented on PDLI shares. BidaskClub cut shares of PDL BioPharma from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of PDL BioPharma from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a report on Wednesday, August 16th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $4.00 price objective on shares of PDL BioPharma in a research note on Thursday, August 10th. Finally, ValuEngine lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $3.50.
PDL BioPharma (PDLI) traded down 0.29% during midday trading on Thursday, reaching $3.45. 1,752,059 shares of the company traded hands. The company has a 50 day moving average of $3.25 and a 200-day moving average of $2.58. PDL BioPharma has a 12-month low of $1.93 and a 12-month high of $3.77. The stock has a market capitalization of $531.58 million, a P/E ratio of 7.93 and a beta of 0.49.
PDL BioPharma declared that its board has authorized a share repurchase plan on Monday, September 25th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Several institutional investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. lifted its stake in shares of PDL BioPharma by 0.5% in the second quarter. Eqis Capital Management Inc. now owns 232,933 shares of the biotechnology company’s stock valued at $575,000 after buying an additional 1,125 shares in the last quarter. Systematic Financial Management LP lifted its stake in shares of PDL BioPharma by 0.4% in the second quarter. Systematic Financial Management LP now owns 714,640 shares of the biotechnology company’s stock valued at $1,765,000 after buying an additional 2,585 shares in the last quarter. Nationwide Fund Advisors lifted its stake in shares of PDL BioPharma by 4.7% in the second quarter. Nationwide Fund Advisors now owns 109,961 shares of the biotechnology company’s stock valued at $272,000 after buying an additional 4,900 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of PDL BioPharma by 15.3% in the first quarter. Public Employees Retirement System of Ohio now owns 55,423 shares of the biotechnology company’s stock valued at $126,000 after buying an additional 7,336 shares in the last quarter. Finally, Airain ltd lifted its stake in shares of PDL BioPharma by 21.0% in the second quarter. Airain ltd now owns 56,911 shares of the biotechnology company’s stock valued at $141,000 after buying an additional 9,893 shares in the last quarter. 83.34% of the stock is currently owned by hedge funds and other institutional investors.
PDL BioPharma Company Profile
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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