Zacks: Brokerages Expect Mallinckrodt (MNK) Will Post Earnings of $1.13 Per Share

Brokerages forecast that Mallinckrodt (NYSE:MNK) will report earnings per share of $1.13 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mallinckrodt’s earnings, with the lowest EPS estimate coming in at $0.93 and the highest estimate coming in at $1.39. Mallinckrodt reported earnings of $1.68 per share during the same quarter last year, which would suggest a negative year over year growth rate of 32.7%. The business is scheduled to report its next earnings results before the market opens on Tuesday, May 8th.

According to Zacks, analysts expect that Mallinckrodt will report full year earnings of $6.16 per share for the current year, with EPS estimates ranging from $6.02 to $6.41. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.96 per share, with EPS estimates ranging from $5.97 to $7.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Mallinckrodt.

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Mallinckrodt (NYSE:MNK) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $2.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.72 by $0.29. Mallinckrodt had a return on equity of 13.43% and a net margin of 66.25%. The business had revenue of $792.30 million during the quarter, compared to analysts’ expectations of $769.91 million. During the same period in the previous year, the firm posted $1.91 earnings per share. The company’s revenue was down 4.5% on a year-over-year basis.

MNK has been the subject of a number of research reports. ValuEngine cut Mallinckrodt from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Wells Fargo reaffirmed a “hold” rating on shares of Mallinckrodt in a research note on Thursday, April 12th. Goldman Sachs reaffirmed a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, December 26th. Canaccord Genuity set a $24.00 price objective on Mallinckrodt and gave the company a “hold” rating in a research note on Sunday, January 7th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Mallinckrodt in a research note on Tuesday, February 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have assigned a buy rating to the stock. Mallinckrodt presently has a consensus rating of “Hold” and a consensus price target of $33.89.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management grew its stake in Mallinckrodt by 24.8% during the 4th quarter. LSV Asset Management now owns 2,621,917 shares of the company’s stock worth $59,150,000 after purchasing an additional 520,697 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Mallinckrodt by 16.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,522,330 shares of the company’s stock worth $94,255,000 after purchasing an additional 360,516 shares in the last quarter. Two Sigma Investments LP acquired a new position in Mallinckrodt during the 4th quarter worth $30,841,000. Arrowstreet Capital Limited Partnership acquired a new position in Mallinckrodt during the 4th quarter worth $30,563,000. Finally, Brandywine Global Investment Management LLC grew its stake in Mallinckrodt by 2.2% during the 4th quarter. Brandywine Global Investment Management LLC now owns 1,184,514 shares of the company’s stock worth $26,723,000 after purchasing an additional 25,605 shares in the last quarter.

Shares of NYSE MNK traded up $0.11 during trading on Thursday, reaching $13.97. The stock had a trading volume of 1,460,397 shares, compared to its average volume of 3,776,669. Mallinckrodt has a fifty-two week low of $13.32 and a fifty-two week high of $49.12. The company has a current ratio of 2.18, a quick ratio of 1.85 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1,190.77, a PE ratio of 1.86, a PEG ratio of 0.34 and a beta of 1.12.

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About Mallinckrodt

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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