Impax Laboratories Inc (IPXL) Expected to Post Earnings of $0.12 Per Share

Wall Street brokerages expect Impax Laboratories Inc (NASDAQ:IPXL) to post earnings of $0.12 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Impax Laboratories’ earnings. The highest EPS estimate is $0.13 and the lowest is $0.10. Impax Laboratories reported earnings per share of $0.16 in the same quarter last year, which indicates a negative year over year growth rate of 25%. The business is scheduled to announce its next earnings results on Wednesday, March 7th.

On average, analysts expect that Impax Laboratories will report full-year earnings of $0.64 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $0.65. For the next financial year, analysts forecast that the company will post earnings of $1.02 per share, with EPS estimates ranging from $0.71 to $1.15. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Impax Laboratories.

Impax Laboratories (NASDAQ:IPXL) last announced its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Impax Laboratories had a positive return on equity of 9.06% and a negative net margin of 56.59%. The firm had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. During the same quarter in the previous year, the business earned $0.37 EPS. The company’s revenue was down 9.4% compared to the same quarter last year.

A number of equities analysts have recently weighed in on IPXL shares. Zacks Investment Research downgraded Impax Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Cantor Fitzgerald lifted their price target on shares of Impax Laboratories from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, September 11th. Cowen reaffirmed a “hold” rating and issued a $16.00 price target on shares of Impax Laboratories in a report on Friday, November 10th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $17.00 price target on shares of Impax Laboratories in a report on Sunday, September 17th. Finally, Royal Bank of Canada set a $17.00 price target on shares of Impax Laboratories and gave the stock a “hold” rating in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $19.62.

Several large investors have recently modified their holdings of the company. Swiss National Bank raised its stake in Impax Laboratories by 15.3% in the second quarter. Swiss National Bank now owns 116,900 shares of the specialty pharmaceutical company’s stock worth $1,882,000 after buying an additional 15,500 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Impax Laboratories during the third quarter valued at approximately $1,692,000. BNP Paribas Arbitrage SA increased its stake in shares of Impax Laboratories by 56.4% during the second quarter. BNP Paribas Arbitrage SA now owns 23,498 shares of the specialty pharmaceutical company’s stock valued at $378,000 after purchasing an additional 8,469 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Impax Laboratories during the third quarter valued at approximately $9,470,000. Finally, Fisher Asset Management LLC bought a new position in shares of Impax Laboratories during the third quarter valued at approximately $30,329,000. 90.48% of the stock is owned by hedge funds and other institutional investors.

Shares of Impax Laboratories (IPXL) traded down $0.25 during midday trading on Friday, hitting $17.25. The stock had a trading volume of 1,076,800 shares, compared to its average volume of 841,667. Impax Laboratories has a 12-month low of $7.75 and a 12-month high of $25.70. The stock has a market cap of $1,290.00, a P/E ratio of -2.76, a PEG ratio of 0.70 and a beta of 0.94. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.81 and a quick ratio of 1.32.

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About Impax Laboratories

Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.

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Earnings History and Estimates for Impax Laboratories (NASDAQ:IPXL)

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