Zacks: Brokerages Anticipate Mallinckrodt PLC (MNK) Will Announce Quarterly Sales of $602.02 Million
Wall Street brokerages forecast that Mallinckrodt PLC (NYSE:MNK) will announce sales of $602.02 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Mallinckrodt’s earnings. The highest sales estimate is $756.60 million and the lowest is $532.30 million. Mallinckrodt reported sales of $810.90 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 25.8%. The business is expected to issue its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Mallinckrodt will report full year sales of $602.02 million for the current fiscal year, with estimates ranging from $2.45 billion to $2.50 billion. For the next year, analysts expect that the company will report sales of $2.72 billion per share, with estimates ranging from $2.30 billion to $3.32 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Mallinckrodt.
Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, February 27th. The company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.29. The business had revenue of $792.30 million during the quarter, compared to analyst estimates of $769.91 million. Mallinckrodt had a net margin of 66.25% and a return on equity of 13.43%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.91 EPS.
Mallinckrodt (NYSE MNK) traded up $0.30 during trading hours on Friday, hitting $16.45. The stock had a trading volume of 3,870,000 shares, compared to its average volume of 5,120,000. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.18 and a quick ratio of 1.85. The stock has a market cap of $1,560.00, a price-to-earnings ratio of 1.17, a price-to-earnings-growth ratio of 0.35 and a beta of 1.06. Mallinckrodt has a 52-week low of $15.27 and a 52-week high of $50.07.
Large investors have recently modified their holdings of the company. Shelton Capital Management purchased a new position in shares of Mallinckrodt during the third quarter worth approximately $205,000. State of Alaska Department of Revenue purchased a new position in shares of Mallinckrodt during the fourth quarter worth approximately $129,000. Cubist Systematic Strategies LLC increased its position in shares of Mallinckrodt by 748.1% during the third quarter. Cubist Systematic Strategies LLC now owns 7,989 shares of the company’s stock worth $299,000 after acquiring an additional 7,047 shares during the period. Pinnacle Associates Ltd. increased its position in shares of Mallinckrodt by 69.8% during the third quarter. Pinnacle Associates Ltd. now owns 8,025 shares of the company’s stock worth $300,000 after acquiring an additional 3,300 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Mallinckrodt during the third quarter worth approximately $305,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.
Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.
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