According to Zacks, “Glaxo should continue to see a strong performance at all of its business segments – Pharmaceuticals, Vaccines and Consumer Healthcare. We are positive on Glaxo’s efforts to develop its pipeline. Performance of new products as well as of those acquired from Novartis has been encouraging. However, persistent challenges like stiff competition, genericization and pricing pressure impact the company’s performance. In particular, pricing dynamics and competitive pressure are hurting sales of its top-selling drug Advair. Meanwhile, Advair is expected to face generic competition in the U.S in 2017, which will further hurt sales. Glaxo’s shares have declined in the past one year. Meanwhile, estimates have declined slightly ahead of its Q1 earnings release. Glaxo has a record of positive earnings surprises in the recent quarters. “
Other equities analysts have also recently issued research reports about the company. Goldman Sachs Group Inc reiterated a buy rating on shares of GlaxoSmithKline plc in a research report on Wednesday, December 21st. BNP Paribas upgraded GlaxoSmithKline plc from an underperform rating to a neutral rating and dropped their target price for the stock from $45.58 to $37.20 in a research report on Wednesday, April 5th. Exane BNP Paribas upgraded GlaxoSmithKline plc from an underperform rating to a neutral rating in a research report on Wednesday, April 5th. JPMorgan Chase & Co. reiterated a neutral rating on shares of GlaxoSmithKline plc in a research report on Monday, January 30th. Finally, Barclays PLC began coverage on GlaxoSmithKline plc in a research report on Tuesday, March 7th. They set an equal weight rating on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $45.25.
This article was originally published by and is the sole property of Zolmax. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://zolmax.com/investing/glaxosmithkline-plc-gsk-rating-lowered-to-sell-at-zacks-investment-research/1289405.html
Shares of GlaxoSmithKline plc (NYSE:GSK) opened at 40.71 on Monday. The company’s 50 day moving average price is $41.86 and its 200-day moving average price is $40.19. The stock has a market capitalization of $99.08 billion, a PE ratio of 87.74 and a beta of 0.94. GlaxoSmithKline plc has a 52 week low of $37.20 and a 52 week high of $45.58.
GlaxoSmithKline plc (NYSE:GSK) last posted its quarterly earnings data on Wednesday, February 8th. The pharmaceutical company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The firm earned $9.43 billion during the quarter, compared to the consensus estimate of $9.21 billion. GlaxoSmithKline plc had a return on equity of 100.68% and a net margin of 3.11%. Equities research analysts predict that GlaxoSmithKline plc will post $2.70 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 13th. Shareholders of record on Friday, February 24th were paid a dividend of $0.571 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date was Wednesday, February 22nd. This is a positive change from GlaxoSmithKline plc’s previous quarterly dividend of $0.46. GlaxoSmithKline plc’s dividend payout ratio is currently 389.36%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its position in shares of GlaxoSmithKline plc by 36.9% in the third quarter. Tower Research Capital LLC TRC now owns 2,640 shares of the pharmaceutical company’s stock worth $114,000 after buying an additional 712 shares in the last quarter. Physicians Financial Services Inc. raised its position in shares of GlaxoSmithKline plc by 25.9% in the third quarter. Physicians Financial Services Inc. now owns 2,691 shares of the pharmaceutical company’s stock valued at $116,000 after buying an additional 553 shares during the period. M&R Capital Management Inc. raised its position in shares of GlaxoSmithKline plc by 22.5% in the fourth quarter. M&R Capital Management Inc. now owns 3,106 shares of the pharmaceutical company’s stock valued at $119,000 after buying an additional 570 shares during the period. Quadrant Capital Group LLC raised its position in shares of GlaxoSmithKline plc by 11.7% in the third quarter. Quadrant Capital Group LLC now owns 3,044 shares of the pharmaceutical company’s stock valued at $122,000 after buying an additional 319 shares during the period. Finally, Menora Mivtachim Holdings LTD. purchased a new position in shares of GlaxoSmithKline plc during the fourth quarter valued at $138,000. 8.41% of the stock is currently owned by institutional investors.
About GlaxoSmithKline plc
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GlaxoSmithKline plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline plc and related companies with MarketBeat.com's FREE daily email newsletter.