Q2 2018 EPS Estimates for Mallinckrodt Lifted by B. Riley (MNK)

Mallinckrodt (NYSE:MNK) – Investment analysts at B. Riley upped their Q2 2018 earnings per share estimates for Mallinckrodt in a research report issued on Thursday, May 17th. B. Riley analyst D. Buck now expects that the company will post earnings of $1.58 per share for the quarter, up from their previous estimate of $1.54. B. Riley has a “Neutral” rating and a $15.00 price objective on the stock. B. Riley also issued estimates for Mallinckrodt’s Q3 2018 earnings at $1.61 EPS, Q4 2018 earnings at $1.70 EPS, FY2020 earnings at $7.50 EPS, FY2021 earnings at $7.40 EPS and FY2022 earnings at $7.20 EPS.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings data on Tuesday, May 8th. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.23. The firm had revenue of $572.60 million for the quarter, compared to analyst estimates of $568.78 million. Mallinckrodt had a net margin of 57.56% and a return on equity of 11.59%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS.

MNK has been the topic of several other research reports. Leerink Swann dropped their price objective on shares of Mallinckrodt and set a “market perform” rating on the stock in a research note on Monday, April 23rd. ValuEngine lowered shares of Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Wells Fargo reiterated a “hold” rating on shares of Mallinckrodt in a research note on Thursday, April 12th. SunTrust Banks started coverage on shares of Mallinckrodt in a research note on Wednesday, April 11th. They issued a “hold” rating and a $15.00 price objective on the stock. Finally, Oppenheimer reiterated a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. Mallinckrodt presently has a consensus rating of “Hold” and an average price target of $31.26.

Mallinckrodt stock opened at $16.07 on Friday. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 2.18, a P/E/G ratio of 0.36 and a beta of 1.13. The company has a current ratio of 2.10, a quick ratio of 1.90 and a debt-to-equity ratio of 1.00. Mallinckrodt has a twelve month low of $14.84 and a twelve month high of $15.96.

In other Mallinckrodt news, insider James E. Flynn sold 312,928 shares of the business’s stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $13.39, for a total value of $4,190,105.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new stake in shares of Mallinckrodt during the 1st quarter worth $104,000. State of Alaska Department of Revenue bought a new stake in shares of Mallinckrodt during the 4th quarter worth $129,000. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Mallinckrodt by 11,188.0% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 10,385 shares of the company’s stock worth $150,000 after buying an additional 10,293 shares during the period. Virginia Retirement Systems ET AL bought a new stake in shares of Mallinckrodt during the 1st quarter worth $175,000. Finally, Financial Gravity Companies Inc. boosted its holdings in shares of Mallinckrodt by 448.3% during the 1st quarter. Financial Gravity Companies Inc. now owns 14,125 shares of the company’s stock worth $182,000 after buying an additional 11,549 shares during the period.

About Mallinckrodt

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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