SunTrust Banks Equities Analysts Increase Earnings Estimates for Shire PLC (SHPG)
Shire PLC (NASDAQ:SHPG) – Equities researchers at SunTrust Banks lifted their FY2018 EPS estimates for Shire PLC in a research note issued to investors on Thursday. SunTrust Banks analyst J. Boris now anticipates that the firm will post earnings of $18.78 per share for the year, up from their prior forecast of $18.76.
Shire PLC (NASDAQ:SHPG) last announced its quarterly earnings results 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 firm earned $2.43 million during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company earned $2.63 earnings per share. Shire PLC’s quarterly revenue was up 55.9% compared to the same quarter last year.
Several other brokerages have also recently issued reports on SHPG. Zacks Investment Research raised shares of Shire PLC from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Citigroup Inc. reaffirmed a “buy” rating on shares of Shire PLC in a research note on Tuesday, September 27th. Jefferies Group reaffirmed a “buy” rating and issued a $262.00 price objective on shares of Shire PLC in a research note on Wednesday, September 7th. BTIG Research reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Shire PLC in a research note on Tuesday, July 12th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Shire PLC in a research note on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $232.75.
Shire PLC (NASDAQ:SHPG) traded up 0.55% on Monday, reaching $196.52. 305,168 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $196.04 and its 200 day moving average price is $186.49. Shire PLC has a 1-year low of $147.60 and a 1-year high of $231.32. The firm has a market capitalization of $58.53 billion, a price-to-earnings ratio of 40.84 and a beta of 1.16.
The business also recently announced a dividend, which will be paid on Friday, October 7th. Investors 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 (DPR) is currently 15.63%.
A number of institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of Shire PLC by 8.3% in the first quarter. Lazard Asset Management LLC now owns 604,947 shares of the biopharmaceutical company’s stock worth $103,989,000 after buying an additional 46,519 shares during the period. State Street Corp bought a new position in shares of Shire PLC during the first quarter worth about $3,362,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Shire PLC by 5.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,728 shares of the biopharmaceutical company’s stock worth $297,000 after buying an additional 82 shares during the period. Wexford Capital LP bought a new position in shares of Shire PLC during the first quarter worth about $4,759,000. Finally, M&T Bank Corp raised its position in shares of Shire PLC by 33.8% in the first quarter. M&T Bank Corp now owns 6,601 shares of the biopharmaceutical company’s stock worth $1,134,000 after buying an additional 1,668 shares during the period. 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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