$9.89 Billion in Sales Expected for GlaxoSmithKline plc (GSK) This Quarter
Wall Street brokerages expect GlaxoSmithKline plc (NYSE:GSK) to report $9.89 billion in sales for the current quarter, according to Zacks. Three analysts have issued estimates for GlaxoSmithKline’s earnings. The lowest sales estimate is $9.44 billion and the highest is $10.26 billion. GlaxoSmithKline posted sales of $9.43 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 14th.
On average, analysts expect that GlaxoSmithKline will report full year sales of $9.89 billion for the current financial year, with estimates ranging from $37.10 billion to $39.76 billion. For the next year, analysts forecast that the firm will post sales of $39.29 billion per share, with estimates ranging from $37.55 billion to $39.99 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for GlaxoSmithKline.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, October 18th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, October 18th. Argus reissued a “buy” rating and issued a $50.00 price target on shares of GlaxoSmithKline in a report on Thursday, August 31st. Morgan Stanley downgraded shares of GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a report on Friday, September 8th. Finally, BidaskClub raised shares of GlaxoSmithKline from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.71.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.5037 per share. The ex-dividend date is Thursday, November 9th. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.01 dividend on an annualized basis and a yield of 5.76%. GlaxoSmithKline’s dividend payout ratio is currently 163.12%.
In other news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of GlaxoSmithKline stock in a transaction on Monday, November 6th. The stock was bought at an average cost of $14.00 per share, with a total value of $5,999,994.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of GlaxoSmithKline 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 in the last quarter. Fisher Asset Management LLC lifted its position in shares of GlaxoSmithKline by 2.3% in the third quarter. Fisher Asset Management LLC now owns 12,828,251 shares of the pharmaceutical company’s stock worth $520,827,000 after purchasing an additional 293,866 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of GlaxoSmithKline 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 in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of GlaxoSmithKline by 7.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,416,927 shares of the pharmaceutical company’s stock worth $341,727,000 after purchasing an additional 569,600 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of GlaxoSmithKline 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 in the last quarter. 9.83% of the stock is owned by institutional investors and hedge funds.
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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