Parexel International Corp. (PRXL) Expected to Earn Q2 2017 Earnings of $0.87 Per Share
Parexel International Corp. (NASDAQ:PRXL) – Research analysts at First Analysis decreased their Q2 2017 earnings per share (EPS) estimates for shares of Parexel International Corp. in a report issued on Thursday. First Analysis analyst S. Schwartz now expects that the brokerage will post earnings of $0.87 per share for the quarter, down from their previous estimate of $1.04. First Analysis currently has a “Equal Weight” rating and a $62.00 price target on the stock. First Analysis also issued estimates for Parexel International Corp.’s Q4 2017 earnings at $1.13 EPS, Q1 2018 earnings at $0.88 EPS and FY2018 earnings at $4.25 EPS.
PRXL has been the topic of several other research reports. Evercore ISI restated a “buy” rating and set a $70.00 price objective (down previously from $79.00) on shares of Parexel International Corp. in a report on Saturday, October 29th. Zacks Investment Research upgraded Parexel International Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, October 19th. Robert W. Baird downgraded Parexel International Corp. from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $67.00 in a report on Thursday, October 27th. Jefferies Group cut their price objective on Parexel International Corp. from $72.50 to $67.00 and set a “hold” rating on the stock in a report on Thursday, October 27th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Parexel International Corp. in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $67.00.
Shares of Parexel International Corp. (NASDAQ:PRXL) opened at 57.26 on Friday. Parexel International Corp. has a 52-week low of $51.16 and a 52-week high of $71.13. The company has a 50 day moving average of $63.11 and a 200 day moving average of $64.19. The firm has a market capitalization of $3.05 billion, a PE ratio of 18.06 and a beta of 0.91.
Parexel International Corp. (NASDAQ:PRXL) last released its earnings results on Wednesday, October 26th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Parexel International Corp. had a return on equity of 30.71% and a net margin of 7.09%. The company earned $500.90 million during the quarter, compared to analyst estimates of $525.15 million. During the same period in the prior year, the business posted $0.70 earnings per share. Parexel International Corp.’s revenue was down 2.2% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC purchased a new position in Parexel International Corp. during the third quarter worth approximately $476,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Parexel International Corp. by 11.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 357,360 shares of the company’s stock worth $24,819,000 after buying an additional 36,870 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Parexel International Corp. by 18.9% in the third quarter. LPL Financial LLC now owns 4,440 shares of the company’s stock worth $306,000 after buying an additional 706 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Parexel International Corp. during the third quarter worth about $5,008,000. Finally, Credit Suisse AG boosted its stake in shares of Parexel International Corp. by 0.5% in the third quarter. Credit Suisse AG now owns 129,522 shares of the company’s stock worth $8,995,000 after buying an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.
About Parexel International Corp.
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company, which provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and advanced technology products and services to the pharmaceutical, biotechnology and medical device industries across the world.
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