Mallinckrodt PLC Forecasted to Post Q1 2019 Earnings of $1.75 Per Share (MNK)

Mallinckrodt PLC (NYSE:MNK) – Stock analysts at SunTrust Banks reduced their Q1 2019 earnings per share (EPS) estimates for Mallinckrodt in a report issued on Thursday, April 18th, according to Zacks Investment Research. SunTrust Banks analyst G. Gilbert now expects that the company will earn $1.75 per share for the quarter, down from their previous forecast of $1.79. SunTrust Banks currently has a “Hold” rating and a $23.00 target price on the stock. SunTrust Banks also issued estimates for Mallinckrodt’s Q2 2019 earnings at $2.07 EPS, Q3 2019 earnings at $2.24 EPS, Q4 2019 earnings at $2.22 EPS, FY2019 earnings at $8.28 EPS, FY2020 earnings at $7.63 EPS, FY2021 earnings at $5.13 EPS, FY2022 earnings at $5.29 EPS and FY2023 earnings at $5.49 EPS.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity set a $40.00 price target on Mallinckrodt and gave the company a “buy” rating in a research report on Monday, March 18th. Mizuho lifted their price target on Mallinckrodt to $26.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. ValuEngine raised Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Morgan Stanley set a $32.00 price objective on Mallinckrodt and gave the stock a “hold” rating in a research note on Thursday, February 28th. Four equities 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’s stock. Mallinckrodt currently has a consensus rating of “Hold” and an average price target of $30.88.

Shares of MNK stock traded down $0.08 during mid-day trading on Friday, hitting $16.29. 2,055,657 shares of the stock traded hands, compared to its average volume of 2,778,778. Mallinckrodt has a twelve month low of $13.45 and a twelve month high of $36.65. The stock has a market cap of $1.37 billion, a PE ratio of 2.03, a price-to-earnings-growth ratio of 0.16 and a beta of 2.12. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.17 and a current ratio of 1.45.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.21. Mallinckrodt had a positive return on equity of 14.22% and a negative net margin of 118.53%. The company had revenue of $791.00 million for the quarter, compared to analysts’ expectations of $766.27 million. During the same period last year, the firm earned $1.31 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNK. Martingale Asset Management L P boosted its position in shares of Mallinckrodt by 52.7% in the third quarter. Martingale Asset Management L P now owns 75,456 shares of the company’s stock worth $2,212,000 after buying an additional 26,030 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Mallinckrodt by 131.5% in the third quarter. Tower Research Capital LLC TRC now owns 6,863 shares of the company’s stock worth $201,000 after buying an additional 3,899 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Mallinckrodt in the third quarter worth $18,621,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mallinckrodt in the third quarter worth $302,000. Finally, Deutsche Bank AG boosted its position in shares of Mallinckrodt by 88.4% in the third quarter. Deutsche Bank AG now owns 889,900 shares of the company’s stock worth $26,080,000 after buying an additional 417,582 shares during the period.

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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