Zacks: Brokerages Anticipate Mallinckrodt PLC (MNK) Will Announce Earnings of $1.50 Per Share

Wall Street analysts forecast that Mallinckrodt PLC (NYSE:MNK) will post earnings of $1.50 per share for the current quarter, according to Zacks. Nine analysts have issued estimates for Mallinckrodt’s earnings. The highest EPS estimate is $1.65 and the lowest is $1.37. Mallinckrodt posted earnings per share of $1.85 in the same quarter last year, which would indicate a negative year over year growth rate of 18.9%. The business is expected to report its next quarterly earnings report before the market opens on Tuesday, August 7th.

On average, analysts expect that Mallinckrodt will report full year earnings of $6.23 per share for the current financial year, with EPS estimates ranging from $6.04 to $6.71. For the next financial year, analysts expect that the company will report earnings of $6.97 per share, with EPS estimates ranging from $5.23 to $8.08. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Mallinckrodt.

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

Several analysts have recently weighed in on the stock. Canaccord Genuity boosted their price objective on shares of Mallinckrodt from $14.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, July 19th. SunTrust Banks boosted their price objective on shares of Mallinckrodt to $21.00 and gave the stock a “hold” rating in a research report on Tuesday, June 19th. Wells Fargo & Co boosted their price objective on shares of Mallinckrodt from $15.00 to $21.00 and gave the stock a “market perform” rating in a research report on Monday, July 9th. Stifel Nicolaus boosted their price objective on shares of Mallinckrodt from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Monday, June 18th. Finally, B. Riley boosted their price objective on shares of Mallinckrodt from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, June 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $30.89.

Shares of NYSE:MNK opened at $22.93 on Wednesday. The company has a market cap of $1.89 billion, a PE ratio of 3.06, a P/E/G ratio of 0.38 and a beta of 1.20. The company has a quick ratio of 1.90, a current ratio of 2.10 and a debt-to-equity ratio of 1.00. Mallinckrodt has a twelve month low of $11.65 and a twelve month high of $46.95.

In other Mallinckrodt news, insider James E. Flynn sold 312,928 shares of the business’s stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Trudeau acquired 3,000 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was purchased at an average cost of $15.54 per share, for a total transaction of $46,620.00. The disclosure for this purchase can be found here. 1.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MNK. Wells Fargo & Company MN increased its stake in Mallinckrodt by 99.6% in the 4th quarter. Wells Fargo & Company MN now owns 204,412 shares of the company’s stock valued at $4,612,000 after buying an additional 102,026 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in Mallinckrodt in the 4th quarter valued at $190,000. Renaissance Technologies LLC acquired a new position in Mallinckrodt in the 4th quarter valued at $10,023,000. LPL Financial LLC acquired a new position in Mallinckrodt in the 4th quarter valued at $1,718,000. Finally, Macquarie Group Ltd. increased its stake in Mallinckrodt by 62.7% in the 4th quarter. Macquarie Group Ltd. now owns 58,422 shares of the company’s stock valued at $9,069,000 after buying an additional 22,507 shares during the period.

Mallinckrodt Company Profile

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.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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