Jefferies Group Equities Analysts Raise Earnings Estimates for GlaxoSmithKline plc (GSK)
GlaxoSmithKline plc (NYSE:GSK) – Research analysts at Jefferies Group boosted their FY2017 EPS estimates for GlaxoSmithKline in a research note issued to investors on Tuesday. Jefferies Group analyst J. Holford now expects that the pharmaceutical company will post earnings of $3.06 per share for the year, up from their prior estimate of $2.91. Jefferies Group also issued estimates for GlaxoSmithKline’s FY2018 earnings at $2.90 EPS, FY2019 earnings at $2.98 EPS, FY2020 earnings at $3.26 EPS and FY2021 earnings at $3.53 EPS.
A number of other research firms have also recently issued reports on GSK. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, October 24th. Zacks Investment Research cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Investec cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. TheStreet upgraded shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. Finally, Bank of America cut shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $38.57.
GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Wednesday, October 25th. The pharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. GlaxoSmithKline had a net margin of 7.79% and a return on equity of 115.30%.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Friday, November 10th were paid a $0.5037 dividend. This represents a $2.01 dividend on an annualized basis and a dividend yield of 5.28%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. The ex-dividend date was Thursday, November 9th. GlaxoSmithKline’s payout ratio is presently 167.21%.
In other news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of GlaxoSmithKline stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. FinTrust Investment Advisory Services LLC acquired a new stake in shares of GlaxoSmithKline in the third quarter worth $401,000. Private Advisor Group LLC lifted its stake in shares of GlaxoSmithKline by 7.2% in the third quarter. Private Advisor Group LLC now owns 77,976 shares of the pharmaceutical company’s stock worth $3,166,000 after buying an additional 5,212 shares during the last quarter. San Francisco Sentry Investment Group CA lifted its stake in shares of GlaxoSmithKline by 110.3% in the third quarter. San Francisco Sentry Investment Group CA now owns 8,749 shares of the pharmaceutical company’s stock worth $356,000 after buying an additional 4,589 shares during the last quarter. Renaissance Technologies LLC raised its stake in GlaxoSmithKline by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock valued at $402,655,000 after purchasing an additional 4,935,900 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in GlaxoSmithKline during the 3rd quarter valued at $1,209,000. Institutional investors and hedge funds own 9.80% of the company’s stock.
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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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