Equities analysts forecast that PDL BioPharma Inc (NASDAQ:PDLI) will announce earnings of $0.08 per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for PDL BioPharma’s earnings. PDL BioPharma posted earnings of $0.17 per share during the same quarter last year, which indicates a negative year over year growth rate of 52.9%. The business is expected to announce its next quarterly earnings report on Thursday, March 14th.
According to Zacks, analysts expect that PDL BioPharma will report full year earnings of ($0.52) per share for the current financial year, with EPS estimates ranging from ($0.53) to ($0.50). For the next year, analysts anticipate that the company will post earnings of $0.13 per share, with EPS estimates ranging from $0.10 to $0.15. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover PDL BioPharma.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.07. PDL BioPharma had a positive return on equity of 7.72% and a negative net margin of 28.41%. The firm had revenue of $67.90 million for the quarter.
A number of equities research analysts have weighed in on PDLI shares. BidaskClub lowered PDL BioPharma from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 8th. TheStreet lowered PDL BioPharma from a “c-” rating to a “d+” rating in a report on Friday, August 17th. ValuEngine lowered PDL BioPharma from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Finally, Cowen reaffirmed a “hold” rating and issued a $3.00 price objective on shares of PDL BioPharma in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $3.25.
NASDAQ PDLI opened at $3.00 on Friday. PDL BioPharma has a 52-week low of $2.25 and a 52-week high of $3.16. The stock has a market cap of $451.07 million, a P/E ratio of 4.76 and a beta of 0.30. The company has a debt-to-equity ratio of 0.17, a quick ratio of 10.61 and a current ratio of 10.88.
PDL BioPharma announced that its Board of Directors has authorized a share buyback plan on Monday, September 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the biotechnology company to reacquire up to 27.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp boosted its holdings in PDL BioPharma by 130.2% in the 3rd quarter. Mackenzie Financial Corp now owns 40,050 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 22,650 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of PDL BioPharma by 76.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 57,350 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 24,925 shares in the last quarter. United Services Automobile Association boosted its stake in shares of PDL BioPharma by 47.3% during the 2nd quarter. United Services Automobile Association now owns 68,212 shares of the biotechnology company’s stock worth $160,000 after acquiring an additional 21,899 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of PDL BioPharma by 81.3% during the 2nd quarter. MetLife Investment Advisors LLC now owns 76,001 shares of the biotechnology company’s stock worth $178,000 after acquiring an additional 34,078 shares in the last quarter. Finally, Hartford Investment Management Co. purchased a new stake in shares of PDL BioPharma during the 2nd quarter worth approximately $254,000. 86.96% of the stock is currently owned by institutional investors.
PDL BioPharma Company Profile
PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.
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