Shire PLC to Post Q3 2016 Earnings of $3.40 Per Share, Leerink Swann Forecasts (SHPG)
Shire PLC (NASDAQ:SHPG) – Equities researchers at Leerink Swann lowered their Q3 2016 earnings estimates for shares of Shire PLC in a research note issued to investors on Monday. Leerink Swann analyst J. Gerberry now anticipates that the firm will post earnings per share of $3.40 for the quarter, down from their previous forecast of $3.43. Leerink Swann currently has a “Outperform” rating and a $231.00 price objective on the stock.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $3.38 earnings per share for the quarter, beating analysts’ consensus estimates of $3.03 by $0.35. Shire PLC had a net margin of 13.19% and a return on equity of 17.70%. The company earned $2.43 million during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $2.63 EPS. The firm’s revenue for the quarter was up 55.9% on a year-over-year basis.
Other equities research analysts have also issued research reports about the stock. Jefferies Group upped their target price on shares of Shire PLC from $223.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, June 3rd. Shore Capital reaffirmed a “buy” rating on shares of Shire PLC in a report on Tuesday, June 14th. Zacks Investment Research raised shares of Shire PLC from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Tuesday, July 5th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Shire PLC in a report on Tuesday, June 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $230.00 target price on shares of Shire PLC in a report on Tuesday, July 12th. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Shire PLC currently has an average rating of “Buy” and a consensus price target of $230.67.
Shares of Shire PLC (NASDAQ:SHPG) opened at 194.82 on Wednesday. The company’s 50-day moving average is $196.27 and its 200-day moving average is $185.51. Shire PLC has a one year low of $147.60 and a one year high of $231.32. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 40.49 and a beta of 1.11.
The firm also recently declared a dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 9th will be given a dividend of $0.139 per share. The ex-dividend date of this dividend is Wednesday, September 7th. Shire PLC’s dividend payout ratio is presently 15.63%.
Hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in shares of Shire PLC by 157.6% in the second quarter. Quadrant Capital Group LLC now owns 608 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 372 shares in the last quarter. Canal Insurance CO purchased a new stake in shares of Shire PLC during the second quarter valued at $102,000. FTB Advisors Inc. boosted its stake in shares of Shire PLC by 3.1% in the second quarter. FTB Advisors Inc. now owns 600 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 18 shares during the period. Duncker Streett & Co. Inc. purchased a new stake in shares of Shire PLC during the second quarter valued at $111,000. Finally, Ropes Wealth Advisors LLC purchased a new stake in shares of Shire PLC during the second quarter valued at $114,000. 24.26% of the stock is currently owned by institutional investors and hedge funds.
Shire PLC Company Profile
Shire plc is a biotech company. The Company, along with its subsidiaries, is engaged in developing and marketing medicines for patients with rare diseases and other select conditions. The Company operates in the segment of research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines.
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