Patheon NV (PTHN) Expected to Announce Quarterly Sales of $520.43 Million

Analysts expect that Patheon NV (NASDAQ:PTHN) will report $520.43 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Patheon NV’s earnings, with the highest sales estimate coming in at $530.00 million and the lowest estimate coming in at $502.70 million. Patheon NV posted sales of $482.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Patheon NV will report full-year sales of $520.43 million for the current financial year, with estimates ranging from $1.99 billion to $2.02 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.20 billion per share, with estimates ranging from $2.18 billion to $2.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Patheon NV.

Patheon NV (NASDAQ:PTHN) last posted its quarterly earnings results on Thursday, June 8th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $483.40 million for the quarter, compared to analyst estimates of $466.08 million. The firm’s revenue was up 3.2% on a year-over-year basis.

A number of research firms recently issued reports on PTHN. Piper Jaffray Companies lowered Patheon NV from an “overweight” rating to a “neutral” rating in a report on Monday, May 15th. Raymond James Financial, Inc. lowered Patheon NV from an “outperform” rating to a “mkt perform” rating in a report on Friday, June 9th. Zacks Investment Research raised Patheon NV from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Friday, May 19th. J P Morgan Chase & Co lowered Patheon NV from an “overweight” rating to a “neutral” rating in a report on Thursday, June 8th. Finally, Jefferies Group LLC lowered Patheon NV from a “buy” rating to a “hold” rating and lifted their target price for the stock from $32.00 to $35.00 in a report on Tuesday, May 16th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $32.88.

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Shares of Patheon NV (NASDAQ:PTHN) traded up 0.03% during midday trading on Friday, reaching $34.81. 912,914 shares of the company were exchanged. The company has a market capitalization of $5.05 billion and a PE ratio of 44.63. Patheon NV has a 52-week low of $23.72 and a 52-week high of $34.97. The firm’s 50 day moving average is $34.25 and its 200-day moving average is $29.80.

A number of institutional investors have recently modified their holdings of PTHN. Quantbot Technologies LP bought a new position in shares of Patheon NV during the first quarter worth $185,000. AQR Capital Management LLC bought a new position in shares of Patheon NV during the fourth quarter worth $220,000. State Board of Administration of Florida Retirement System bought a new position in shares of Patheon NV during the fourth quarter worth $232,000. Forward Management LLC boosted its position in shares of Patheon NV by 67.4% in the first quarter. Forward Management LLC now owns 8,714 shares of the company’s stock worth $230,000 after buying an additional 3,509 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Patheon NV by 1,626.7% in the first quarter. Legal & General Group Plc now owns 10,170 shares of the company’s stock worth $268,000 after buying an additional 9,581 shares in the last quarter.

Patheon NV Company Profile

Patheon N.V. is a provider of outsourced pharmaceutical development and manufacturing services. The Company’s segments include Drug Product Services (DPS), Pharmaceutical Development Services (PDS) and Drug Substance Services (DSS). The DPS segment is engaged in manufacturing and packaging for approved prescription, over-the-counter (OTC) and nutritional products.

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