Celgene Co. (NASDAQ:CELG) Expected to Announce Earnings of $2.73 Per Share

Wall Street brokerages expect that Celgene Co. (NASDAQ:CELG) will report earnings per share of $2.73 for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Celgene’s earnings, with the lowest EPS estimate coming in at $2.65 and the highest estimate coming in at $2.93. Celgene posted earnings per share of $2.29 in the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The firm is scheduled to report its next quarterly earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Celgene will report full year earnings of $10.90 per share for the current year, with EPS estimates ranging from $10.61 to $11.37. For the next year, analysts expect that the business will report earnings of $11.97 per share, with EPS estimates ranging from $9.50 to $13.09. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Celgene.

Celgene (NASDAQ:CELG) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.17. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the previous year, the company posted $2.16 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis.

CELG has been the subject of several recent analyst reports. ValuEngine cut Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a report on Tuesday, July 23rd. Barclays cut Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price target for the company. in a report on Friday, May 3rd. Cowen restated a “hold” rating and issued a $102.00 price target on shares of Celgene in a report on Tuesday, July 30th. Finally, Mizuho restated a “buy” rating and issued a $103.00 price target on shares of Celgene in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and four have given a buy rating to the company’s stock. Celgene has an average rating of “Hold” and an average target price of $94.81.

CELG opened at $93.31 on Tuesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.44 and a quick ratio of 3.32. The stock has a market capitalization of $66.76 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 0.44 and a beta of 1.46. The business has a 50-day moving average of $92.76 and a two-hundred day moving average of $92.50. Celgene has a 12 month low of $58.59 and a 12 month high of $98.97.

Several large investors have recently modified their holdings of CELG. Archford Capital Strategies LLC boosted its holdings in Celgene by 277.8% in the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Liberty Wealth Management LLC boosted its holdings in Celgene by 212.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 294 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 200 shares during the period. Investors Research Corp purchased a new position in Celgene in the 1st quarter worth approximately $28,000. Weaver Consulting Group purchased a new position in Celgene in the 1st quarter worth approximately $29,000. Finally, Alera Investment Advisors LLC boosted its holdings in Celgene by 109.9% in the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Earnings History and Estimates for Celgene (NASDAQ:CELG)

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