SunTrust Banks Comments on Mallinckrodt PLC’s Q3 2018 Earnings (MNK)

Mallinckrodt PLC (NYSE:MNK) – Stock analysts at SunTrust Banks decreased their Q3 2018 EPS estimates for shares of Mallinckrodt in a report released on Monday, November 5th. SunTrust Banks analyst J. Boris now anticipates that the company will earn $1.80 per share for the quarter, down from their prior forecast of $1.87. SunTrust Banks has a “Positive” rating and a $32.00 price target on the stock. SunTrust Banks also issued estimates for Mallinckrodt’s Q4 2018 earnings at $1.91 EPS, FY2018 earnings at $7.10 EPS, FY2019 earnings at $7.15 EPS, FY2020 earnings at $8.40 EPS, FY2021 earnings at $7.51 EPS and FY2022 earnings at $8.28 EPS.

Several other analysts also recently issued reports on the company. Goldman Sachs Group downgraded Mallinckrodt from a “neutral” rating to a “sell” rating and boosted their price target for the company from $27.00 to $28.00 in a research note on Tuesday, September 11th. Zacks Investment Research downgraded Mallinckrodt from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Wells Fargo & Co set a $24.00 price target on Mallinckrodt and gave the company a “hold” rating in a research note on Monday, October 8th. Berenberg Bank initiated coverage on Mallinckrodt in a research note on Friday, September 14th. They issued a “sell” rating and a $25.00 price target for the company. Finally, B. Riley boosted their price target on Mallinckrodt from $20.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 24th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.53.

MNK opened at $31.17 on Thursday. The firm has a market capitalization of $2.47 billion, a P/E ratio of 4.16, a PEG ratio of 0.40 and a beta of 1.71. Mallinckrodt has a 1 year low of $11.65 and a 1 year high of $36.65. The company has a quick ratio of 2.06, a current ratio of 2.21 and a debt-to-equity ratio of 0.93.

Mallinckrodt (NYSE:MNK) last released its quarterly earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.31. The business had revenue of $640.00 million during the quarter, compared to the consensus estimate of $634.38 million. Mallinckrodt had a return on equity of 9.60% and a net margin of 65.24%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.97 EPS.

A number of hedge funds and other institutional investors have recently made changes to their positions in MNK. Advisors Preferred LLC raised its holdings in Mallinckrodt by 493.9% in the 2nd quarter. Advisors Preferred LLC now owns 10,512 shares of the company’s stock valued at $196,000 after acquiring an additional 8,742 shares in the last quarter. Balasa Dinverno & Foltz LLC acquired a new position in Mallinckrodt in the 2nd quarter valued at $200,000. Janus Henderson Group PLC acquired a new position in Mallinckrodt in the 2nd quarter valued at $237,000. Crossmark Global Holdings Inc. acquired a new position in shares of Mallinckrodt during the 3rd quarter worth $247,000. Finally, Bronfman E.L. Rothschild L.P. raised its holdings in shares of Mallinckrodt by 46.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 15,238 shares of the company’s stock worth $284,000 after buying an additional 4,853 shares in the last quarter.

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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