$785.03 Million in Sales Expected for Mallinckrodt PLC (NYSE:MNK) This Quarter

Equities analysts expect Mallinckrodt PLC (NYSE:MNK) to announce $785.03 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Mallinckrodt’s earnings, with the highest sales estimate coming in at $805.00 million and the lowest estimate coming in at $762.40 million. Mallinckrodt reported sales of $640.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that Mallinckrodt will report full-year sales of $3.20 billion for the current financial year, with estimates ranging from $3.17 billion to $3.26 billion. For the next year, analysts expect that the firm will report sales of $3.05 billion, with estimates ranging from $2.63 billion to $3.20 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Mallinckrodt.

Mallinckrodt (NYSE:MNK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.43. Mallinckrodt had a positive return on equity of 18.96% and a negative net margin of 111.46%. The firm had revenue of $823.30 million for the quarter, compared to the consensus estimate of $817.55 million. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis.

Several equities research analysts have recently weighed in on MNK shares. ValuEngine upgraded Mallinckrodt from a “sell” rating to a “hold” rating in a report on Thursday, August 8th. Morgan Stanley set a $5.00 target price on Mallinckrodt and gave the stock a “hold” rating in a research note on Friday, August 9th. BMO Capital Markets set a $19.00 target price on Mallinckrodt and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Mallinckrodt from $22.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Piper Jaffray Companies lowered Mallinckrodt from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $9.00 in a research note on Thursday, May 30th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.44.

In related news, CFO Bryan M. Reasons acquired 5,400 shares of Mallinckrodt stock in a transaction on Friday, June 7th. The stock was acquired at an average price of $8.96 per share, for a total transaction of $48,384.00. Following the purchase, the chief financial officer now owns 17,979 shares of the company’s stock, valued at approximately $161,091.84. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama increased its stake in shares of Mallinckrodt by 0.6% in the 1st quarter. Retirement Systems of Alabama now owns 108,703 shares of the company’s stock valued at $2,363,000 after purchasing an additional 685 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of Mallinckrodt by 1.8% in the 1st quarter. Mason Street Advisors LLC now owns 44,405 shares of the company’s stock valued at $965,000 after purchasing an additional 765 shares in the last quarter. CWM LLC increased its stake in shares of Mallinckrodt by 222.8% in the 1st quarter. CWM LLC now owns 1,159 shares of the company’s stock valued at $25,000 after purchasing an additional 800 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Mallinckrodt by 4.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 45,088 shares of the company’s stock valued at $414,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Mallinckrodt by 0.8% in the 1st quarter. Rhumbline Advisers now owns 267,983 shares of the company’s stock valued at $5,826,000 after purchasing an additional 2,019 shares in the last quarter.

Shares of NYSE MNK traded up $0.38 during midday trading on Friday, hitting $4.46. The company’s stock had a trading volume of 58,537 shares, compared to its average volume of 4,764,887. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $7.16 and its two-hundred day moving average is $14.94. Mallinckrodt has a 12-month low of $3.85 and a 12-month high of $36.65. The firm has a market cap of $343.60 million, a P/E ratio of 0.56, a price-to-earnings-growth ratio of 0.04 and a beta of 2.29.

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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