Brokerages expect PDL BioPharma Inc (NASDAQ:PDLI) to announce earnings of $0.07 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for PDL BioPharma’s earnings. PDL BioPharma reported earnings of $0.15 per share in the same quarter last year, which would suggest a negative year over year growth rate of 53.3%. The firm is expected to issue its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that PDL BioPharma will report full year earnings of ($0.60) per share for the current financial year. For the next fiscal year, analysts forecast that the firm will report earnings of $0.12 per share, with EPS estimates ranging from $0.10 to $0.13. Zacks’ EPS averages are a mean average based on a survey of research firms that cover PDL BioPharma.
PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.04. The business had revenue of $46.58 million for the quarter. PDL BioPharma had a negative net margin of 31.33% and a positive return on equity of 8.92%.
Several analysts recently issued reports on the stock. ValuEngine lowered shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. BidaskClub upgraded shares of PDL BioPharma from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 4th. Zacks Investment Research lowered shares of PDL BioPharma from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, TheStreet lowered shares of PDL BioPharma from a “c-” rating to a “d+” rating in a research report on Friday, August 17th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.00.
Institutional investors have recently modified their holdings of the business. Bayesian Capital Management LP acquired a new stake in PDL BioPharma in the first quarter valued at approximately $135,000. United Services Automobile Association boosted its position in PDL BioPharma by 47.3% in the second quarter. United Services Automobile Association now owns 68,212 shares of the biotechnology company’s stock valued at $160,000 after buying an additional 21,899 shares in the last quarter. MetLife Investment Advisors LLC boosted its position in PDL BioPharma by 81.3% in the second quarter. MetLife Investment Advisors LLC now owns 76,001 shares of the biotechnology company’s stock valued at $178,000 after buying an additional 34,078 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in PDL BioPharma in the first quarter valued at approximately $226,000. Finally, Hartford Investment Management Co. acquired a new stake in PDL BioPharma in the second quarter valued at approximately $254,000. Hedge funds and other institutional investors own 87.40% of the company’s stock.
Shares of NASDAQ PDLI traded up $0.07 during trading hours on Friday, hitting $2.53. 1,461,035 shares of the stock were exchanged, compared to its average volume of 1,499,004. The company has a current ratio of 11.13, a quick ratio of 10.80 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $382.40 million, a price-to-earnings ratio of 4.02 and a beta of 0.27. PDL BioPharma has a 1-year low of $2.25 and a 1-year high of $3.55.
PDL BioPharma announced that its Board of Directors has authorized a share repurchase plan on Monday, September 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the biotechnology company to buy up to 27.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
PDL BioPharma Company Profile
PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.
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