Mallinckrodt PLC (NYSE:MNK) to Post Q3 2019 Earnings of $2.07 Per Share, Jefferies Financial Group Forecasts

Mallinckrodt PLC (NYSE:MNK) – Research analysts at Jefferies Financial Group increased their Q3 2019 earnings per share estimates for shares of Mallinckrodt in a research report issued on Tuesday, August 6th, Zacks Investment Research reports. Jefferies Financial Group analyst A. Petrone now anticipates that the company will post earnings per share of $2.07 for the quarter, up from their prior estimate of $2.05. Jefferies Financial Group has a “Reduce” rating and a $10.00 price objective on the stock. Jefferies Financial Group also issued estimates for Mallinckrodt’s Q4 2019 earnings at $2.05 EPS, FY2020 earnings at $8.47 EPS, FY2021 earnings at $8.28 EPS, FY2022 earnings at $8.45 EPS and FY2023 earnings at $8.77 EPS.

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

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Co lowered their price target on shares of Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating on the stock in a report on Thursday, June 6th. Morgan Stanley set a $5.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Friday, August 9th. SunTrust Banks cut their price target on shares of Mallinckrodt to $7.00 and set a “positive” rating on the stock in a report on Monday, August 12th. Stifel Nicolaus set a $20.00 price objective on shares of Mallinckrodt and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Finally, Piper Jaffray Companies lowered shares of Mallinckrodt from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $39.00 to $9.00 in a research report on Thursday, May 30th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $14.06.

NYSE MNK traded down $0.49 during trading hours on Thursday, reaching $2.59. 19,086,955 shares of the company’s stock traded hands, compared to its average volume of 5,773,967. The firm has a 50-day simple moving average of $5.82 and a 200 day simple moving average of $13.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.57. The firm has a market cap of $295.71 million, a PE ratio of 0.32, a PEG ratio of 0.03 and a beta of 2.29. Mallinckrodt has a 52-week low of $2.38 and a 52-week high of $35.27.

In other Mallinckrodt news, CFO Bryan M. Reasons acquired 5,400 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were purchased at an average price of $8.96 per share, with a total value of $48,384.00. Following the completion of the acquisition, the chief financial officer now directly owns 17,979 shares of the company’s stock, valued at approximately $161,091.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Hancock Whitney Corp acquired a new position in shares of Mallinckrodt in the 2nd quarter worth approximately $262,000. Luminus Management LLC acquired a new position in shares of Mallinckrodt during the 2nd quarter valued at $3,144,000. Maverick Capital Ltd. acquired a new position in shares of Mallinckrodt during the 2nd quarter valued at $3,533,000. United Services Automobile Association increased its position in shares of Mallinckrodt by 6.0% during the 2nd quarter. United Services Automobile Association now owns 146,300 shares of the company’s stock valued at $1,343,000 after purchasing an additional 8,246 shares during the period. Finally, Anderson Fisher LLC grew its holdings in shares of Mallinckrodt by 114.9% in the 2nd quarter. Anderson Fisher LLC now owns 11,358 shares of the company’s stock worth $104,000 after acquiring an additional 6,073 shares during the last quarter.

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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