GlaxoSmithKline PLC to Post FY2018 Earnings of $2.80 Per Share, Jefferies Group Forecasts (GSK)
GlaxoSmithKline PLC (NYSE:GSK) – Investment analysts at Jefferies Group lowered their FY2018 earnings per share (EPS) estimates for shares of GlaxoSmithKline PLC in a note issued to investors on Tuesday. Jefferies Group analyst J. Holford now expects that the pharmaceutical company will earn $2.80 per share for the year, down from their prior estimate of $2.87. Jefferies Group also issued estimates for GlaxoSmithKline PLC’s FY2019 earnings at $2.93 EPS, FY2020 earnings at $3.22 EPS and FY2021 earnings at $3.48 EPS.
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GSK has been the subject of several other reports. Citigroup Inc. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. TheStreet downgraded shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Argus reissued a “buy” rating and issued a $50.00 price target on shares of GlaxoSmithKline PLC in a research note on Thursday, August 31st. Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Bank of America Corporation downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $44.33.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be issued a $0.5037 dividend. This represents a $2.01 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. GlaxoSmithKline PLC’s dividend payout ratio is 162.30%.
A number of institutional investors and hedge funds have recently made changes to their positions in GSK. Renaissance Technologies LLC grew its holdings in GlaxoSmithKline PLC by 112.1% in the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares during the period. FMR LLC grew its holdings in GlaxoSmithKline PLC by 5.9% in the second quarter. FMR LLC now owns 25,024,276 shares of the pharmaceutical company’s stock worth $1,079,047,000 after purchasing an additional 1,389,238 shares during the period. Bank of America Corp DE grew its holdings in 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 purchasing an additional 934,928 shares during the period. Federated Investors Inc. PA grew its holdings in GlaxoSmithKline PLC by 22.7% in the second quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock worth $194,521,000 after purchasing an additional 833,501 shares during the period. Finally, Marshall Wace North America L.P. grew its holdings in GlaxoSmithKline PLC by 148.0% in the second quarter. Marshall Wace North America L.P. now owns 1,119,491 shares of the pharmaceutical company’s stock worth $48,138,000 after purchasing an additional 668,088 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.
GlaxoSmithKline PLC Company Profile
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.
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