Zacks: Brokerages Anticipate Mallinckrodt PLC (NYSE:MNK) Will Announce Quarterly Sales of $830.20 Million

Equities research analysts expect Mallinckrodt PLC (NYSE:MNK) to post $830.20 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Mallinckrodt’s earnings. The highest sales estimate is $841.60 million and the lowest is $821.92 million. Mallinckrodt reported sales of $631.70 million during the same quarter last year, which indicates a positive year over year growth rate of 31.4%. The company is expected to announce its next earnings results on Tuesday, August 6th.

On average, analysts expect that Mallinckrodt will report full-year sales of $3.24 billion for the current year, with estimates ranging from $3.16 billion to $3.29 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.10 billion, with estimates ranging from $2.73 billion to $3.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Mallinckrodt.

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. Mallinckrodt had a negative net margin of 118.53% and a positive return on equity of 14.22%. The business had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $766.27 million. During the same quarter in the prior year, the company earned $1.31 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis.

A number of analysts recently commented on the stock. Mizuho upped their price objective on shares of Mallinckrodt to $26.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Morgan Stanley set a $32.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Thursday, February 28th. ValuEngine cut shares of Mallinckrodt from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. SunTrust Banks assumed coverage on shares of Mallinckrodt in a research report on Tuesday, March 19th. They issued a “hold” rating and a $23.00 price objective for the company. Finally, Canaccord Genuity set a $40.00 price objective on shares of Mallinckrodt and gave the company a “buy” rating in a research report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.83.

In other news, CFO Bryan M. Reasons bought 5,400 shares of the stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $8.96 per share, for a total transaction of $48,384.00. Following the acquisition, the chief financial officer now owns 17,979 shares in the company, valued at $161,091.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders have acquired 8,400 shares of company stock valued at $83,234. Corporate insiders own 2.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in Mallinckrodt by 6.6% during the 4th quarter. BlackRock Inc. now owns 10,180,933 shares of the company’s stock worth $160,858,000 after purchasing an additional 628,445 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Mallinckrodt by 15.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,357,117 shares of the company’s stock worth $100,443,000 after buying an additional 840,414 shares during the last quarter. LSV Asset Management boosted its stake in shares of Mallinckrodt by 1.4% during the 1st quarter. LSV Asset Management now owns 4,149,268 shares of the company’s stock worth $90,205,000 after buying an additional 58,300 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Mallinckrodt during the 1st quarter worth about $47,464,000. Finally, Northern Trust Corp boosted its stake in shares of Mallinckrodt by 12.3% during the 4th quarter. Northern Trust Corp now owns 1,735,672 shares of the company’s stock worth $27,424,000 after buying an additional 190,389 shares during the last quarter.

Shares of MNK traded down $0.57 during trading hours on Friday, reaching $9.28. The stock had a trading volume of 1,896,956 shares, compared to its average volume of 4,155,165. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 1.90. Mallinckrodt has a 52 week low of $8.42 and a 52 week high of $36.65. The stock has a market cap of $777.79 million, a P/E ratio of 1.16, a P/E/G ratio of 0.09 and a beta of 2.39.

Mallinckrodt Company Profile

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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