Zacks: Analysts Expect Mylan (MYL) Will Post Quarterly Sales of $3.29 Billion

Equities research analysts expect Mylan (NASDAQ:MYL) to post sales of $3.29 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Mylan’s earnings, with estimates ranging from $3.19 billion to $3.38 billion. Mylan reported sales of $3.27 billion in the same quarter last year, which indicates a positive year over year growth rate of 0.6%. The business is expected to announce its next earnings results on Wednesday, March 7th.

On average, analysts expect that Mylan will report full year sales of $3.29 billion for the current year, with estimates ranging from $11.86 billion to $12.05 billion. For the next year, analysts forecast that the business will post sales of $12.62 billion per share, with estimates ranging from $12.28 billion to $13.18 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Mylan.

Mylan (NASDAQ:MYL) last issued its quarterly earnings data on Monday, November 6th. The company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.10). Mylan had a net margin of 7.28% and a return on equity of 20.63%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the company earned $1.38 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis.

MYL has been the topic of a number of recent research reports. TheStreet upgraded Mylan from a “c” rating to a “b-” rating in a research report on Wednesday. ValuEngine upgraded Mylan from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price target on shares of Mylan in a report on Friday, September 29th. BTIG Research increased their price target on Mylan from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, Citigroup set a $42.00 price target on Mylan and gave the stock a “buy” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Mylan presently has a consensus rating of “Buy” and an average price target of $44.19.

Shares of Mylan (NASDAQ:MYL) traded up $0.22 during mid-day trading on Friday, reaching $46.73. The company’s stock had a trading volume of 7,887,043 shares, compared to its average volume of 6,630,000. Mylan has a fifty-two week low of $29.39 and a fifty-two week high of $47.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.95 and a current ratio of 1.46. The stock has a market capitalization of $24,950.00, a P/E ratio of 28.15, a PEG ratio of 1.47 and a beta of 1.38.

In other Mylan news, CEO Heather M. Bresch sold 75,000 shares of the stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.00, for a total transaction of $3,375,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Mylan by 12.0% in the 2nd quarter. Vanguard Group Inc. now owns 32,880,790 shares of the company’s stock worth $1,276,432,000 after acquiring an additional 3,531,974 shares during the last quarter. Pzena Investment Management LLC raised its stake in Mylan by 84.1% in the 3rd quarter. Pzena Investment Management LLC now owns 22,721,384 shares of the company’s stock worth $712,770,000 after acquiring an additional 10,381,697 shares during the last quarter. State Street Corp raised its stake in Mylan by 1.6% in the 2nd quarter. State Street Corp now owns 20,498,541 shares of the company’s stock worth $795,751,000 after acquiring an additional 321,977 shares during the last quarter. Greenlight Capital Inc. raised its stake in Mylan by 0.4% in the 3rd quarter. Greenlight Capital Inc. now owns 10,744,307 shares of the company’s stock worth $337,048,000 after acquiring an additional 42,600 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its stake in Mylan by 7.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 6,922,373 shares of the company’s stock worth $268,726,000 after acquiring an additional 480,500 shares during the last quarter. Hedge funds and other institutional investors own 74.90% of the company’s stock.

TRADEMARK VIOLATION WARNING: This news story was published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/20/zacks-analysts-expect-mylan-myl-will-post-quarterly-sales-of-3-29-billion.html.

Mylan Company Profile

Mylan N.V. is a global pharmaceutical company. The Company develops, licenses, manufactures, markets and distributes generic and branded generic products for resale by others; specialty pharmaceuticals, and active pharmaceutical ingredients (APIs). It operates through two segments: Generics and Specialty.

Get a free copy of the Zacks research report on Mylan (MYL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mylan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mylan and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply