Analysts Anticipate Mallinckrodt PLC (MNK) to Announce $1.75 EPS

Brokerages forecast that Mallinckrodt PLC (NYSE:MNK) will post $1.75 earnings per share for the current quarter, according to Zacks. Six analysts have made estimates for Mallinckrodt’s earnings, with the lowest EPS estimate coming in at $1.70 and the highest estimate coming in at $1.83. Mallinckrodt reported earnings of $1.31 per share in the same quarter last year, which would indicate a positive year over year growth rate of 33.6%. The company is expected to issue its next earnings results before the market opens on Tuesday, May 7th.

According to Zacks, analysts expect that Mallinckrodt will report full-year earnings of $8.20 per share for the current year, with EPS estimates ranging from $8.10 to $8.29. For the next financial year, analysts expect that the firm will post earnings of $7.99 per share, with EPS estimates ranging from $6.32 to $8.79. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Mallinckrodt.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings results on Tuesday, February 26th. The company reported $2.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.20. The company had revenue of $834.90 million during the quarter, compared to analyst estimates of $681.45 million. Mallinckrodt had a negative net margin of 134.63% and a positive return on equity of 11.14%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 earnings per share.

MNK has been the subject of a number of research reports. Mizuho increased their target price on shares of Mallinckrodt to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, February 28th. Morgan Stanley set a $32.00 target price on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Thursday, February 28th. ValuEngine lowered shares of Mallinckrodt from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. SunTrust Banks initiated coverage on shares of Mallinckrodt in a research report on Tuesday, March 19th. They set a “hold” rating and a $23.00 target price for the company. Finally, Canaccord Genuity set a $40.00 target price on shares of Mallinckrodt and gave the stock a “buy” rating in a research report on Monday, March 18th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $30.88.

MNK traded down $0.28 during trading on Monday, hitting $17.95. 148,586 shares of the company traded hands, compared to its average volume of 1,323,644. The firm has a market cap of $1.52 billion, a P/E ratio of 2.24, a PEG ratio of 0.19 and a beta of 2.29. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.17 and a current ratio of 1.51. Mallinckrodt has a one year low of $11.65 and a one year high of $36.65.

Several hedge funds have recently added to or reduced their stakes in MNK. Norges Bank bought a new position in shares of Mallinckrodt in the fourth quarter valued at approximately $26,615,000. Dimensional Fund Advisors LP raised its stake in Mallinckrodt by 15.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock valued at $100,443,000 after purchasing an additional 840,414 shares in the last quarter. Acadian Asset Management LLC raised its stake in Mallinckrodt by 90.6% in the fourth quarter. Acadian Asset Management LLC now owns 1,694,860 shares of the company’s stock valued at $26,781,000 after purchasing an additional 805,751 shares in the last quarter. Morgan Stanley raised its stake in Mallinckrodt by 72.7% in the third quarter. Morgan Stanley now owns 1,703,367 shares of the company’s stock valued at $49,925,000 after purchasing an additional 717,251 shares in the last quarter. Finally, LSV Asset Management raised its stake in Mallinckrodt by 21.1% in the fourth quarter. LSV Asset Management now owns 4,090,968 shares of the company’s stock valued at $64,637,000 after purchasing an additional 713,709 shares in the last quarter.

About Mallinckrodt

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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