Wall Street analysts expect Mallinckrodt PLC (NYSE:MNK) to report earnings of $1.72 per share for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Mallinckrodt’s earnings. The lowest EPS estimate is $1.52 and the highest is $1.89. Mallinckrodt reported earnings of $1.91 per share in the same quarter last year, which suggests a negative year over year growth rate of 9.9%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, February 27th.

According to Zacks, analysts expect that Mallinckrodt will report full-year earnings of $7.20 per share for the current fiscal year, with EPS estimates ranging from $7.02 to $7.41. For the next financial year, analysts forecast that the firm will report earnings of $6.96 per share, with EPS estimates ranging from $5.78 to $7.32. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Mallinckrodt.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.17. The company had revenue of $793.90 million for the quarter, compared to analyst estimates of $808.93 million. Mallinckrodt had a net margin of 11.43% and a return on equity of 14.79%. Mallinckrodt’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.04 EPS.

A number of brokerages have weighed in on MNK. Zacks Investment Research upgraded shares of Mallinckrodt from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 9th. Mizuho reissued a “neutral” rating and issued a $21.00 target price (down previously from $22.00) on shares of Mallinckrodt in a research note on Tuesday, January 9th. Cantor Fitzgerald set a $42.00 target price on shares of Mallinckrodt and gave the company a “buy” rating in a research note on Monday, January 8th. Canaccord Genuity set a $24.00 target price on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Sunday, January 7th. Finally, Leerink Swann assumed coverage on shares of Mallinckrodt in a research note on Tuesday, January 2nd. They issued a “market perform” rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.99.

Shares of Mallinckrodt (MNK) traded down $0.37 on Wednesday, hitting $23.13. 2,136,100 shares of the company’s stock were exchanged, compared to its average volume of 2,424,200. The firm has a market cap of $2,150.00, a price-to-earnings ratio of -1,156.50, a PEG ratio of 0.44 and a beta of 1.30. Mallinckrodt has a 52 week low of $19.00 and a 52 week high of $55.32. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.05 and a current ratio of 1.38.

In other news, VP Steven J. Romano purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average price of $21.96 per share, with a total value of $43,920.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David R. Carlucci acquired 10,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were bought at an average cost of $21.83 per share, with a total value of $218,300.00. Following the completion of the acquisition, the director now owns 26,020 shares in the company, valued at $568,016.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 30,460 shares of company stock worth $659,486 in the last ninety days. 0.53% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC acquired a new position in Mallinckrodt during the 2nd quarter worth $204,000. Shelton Capital Management acquired a new position in Mallinckrodt during the 3rd quarter worth $205,000. Cubist Systematic Strategies LLC grew its holdings in Mallinckrodt by 748.1% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock worth $299,000 after acquiring an additional 7,047 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in Mallinckrodt by 69.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock worth $300,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new position in Mallinckrodt during the 3rd quarter worth $305,000.

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About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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