Mallinckrodt PLC (MNK) Forecasted to Earn Q3 2019 Earnings of $2.17 Per Share

Mallinckrodt PLC (NYSE:MNK) – Research analysts at SunTrust Banks dropped their Q3 2019 earnings per share estimates for shares of Mallinckrodt in a research note issued to investors on Monday, May 13th. SunTrust Banks analyst G. Gilbert now forecasts that the company will post earnings of $2.17 per share for the quarter, down from their prior estimate of $2.24. SunTrust Banks currently has a “Hold” rating and a $20.00 target price on the stock. SunTrust Banks also issued estimates for Mallinckrodt’s FY2019 earnings at $8.30 EPS, FY2021 earnings at $5.07 EPS, FY2022 earnings at $5.08 EPS and FY2023 earnings at $5.11 EPS.

Several other research firms have also recently weighed in on MNK. ValuEngine raised shares of Mallinckrodt from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Morgan Stanley set a $32.00 price target on shares of Mallinckrodt and gave the company a “hold” rating in a research note on Thursday, February 28th. Mizuho increased their price target on shares of Mallinckrodt to $26.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. Finally, Canaccord Genuity set a $40.00 price target on shares of Mallinckrodt and gave the company a “buy” rating in a research note on Monday, March 18th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Mallinckrodt has an average rating of “Hold” and an average price target of $30.69.

MNK stock opened at $15.32 on Thursday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 1.91, a price-to-earnings-growth ratio of 0.15 and a beta of 2.12. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.45 and a quick ratio of 1.08. Mallinckrodt has a 12 month low of $13.45 and a 12 month high of $36.65.

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

Large investors have recently bought and sold shares of the stock. CWM LLC boosted its position in shares of Mallinckrodt by 222.8% during the 1st quarter. CWM LLC now owns 1,159 shares of the company’s stock worth $25,000 after purchasing an additional 800 shares during the period. FNY Investment Advisers LLC boosted its position in shares of Mallinckrodt by 210.4% during the 4th quarter. FNY Investment Advisers LLC now owns 2,288 shares of the company’s stock worth $36,000 after purchasing an additional 1,551 shares during the period. We Are One Seven LLC purchased a new position in shares of Mallinckrodt during the 4th quarter worth approximately $38,000. QS Investors LLC boosted its position in shares of Mallinckrodt by 14.3% during the 4th quarter. QS Investors LLC now owns 4,000 shares of the company’s stock worth $64,000 after purchasing an additional 500 shares during the period. Finally, Quantamental Technologies LLC purchased a new position in shares of Mallinckrodt during the 4th quarter worth approximately $80,000.

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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