Zacks: Analysts Anticipate Mallinckrodt PLC (NYSE:MNK) to Post $2.01 EPS

Wall Street analysts forecast that Mallinckrodt PLC (NYSE:MNK) will post earnings of $2.01 per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Mallinckrodt’s earnings, with the highest EPS estimate coming in at $2.09 and the lowest estimate coming in at $1.90. Mallinckrodt reported earnings per share of $2.10 during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.3%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 5th.

On average, analysts expect that Mallinckrodt will report full-year earnings of $8.48 per share for the current financial year, with EPS estimates ranging from $8.28 to $8.61. For the next financial year, analysts expect that the firm will report earnings of $7.23 per share, with EPS estimates ranging from $5.54 to $8.50. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Mallinckrodt.

Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, August 6th. The company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.43. The firm had revenue of $823.30 million for the quarter, compared to the consensus estimate of $817.55 million. Mallinckrodt had a negative net margin of 111.46% and a positive return on equity of 18.96%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.16 EPS.

MNK has been the topic of a number of analyst reports. Wells Fargo & Co reduced their price target on Mallinckrodt from $25.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, June 6th. Jefferies Financial Group set a $2.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a research report on Friday, September 6th. Leerink Swann set a $2.00 price objective on shares of Mallinckrodt and gave the company a “hold” rating in a report on Friday, September 6th. Barclays set a $5.00 price objective on shares of Mallinckrodt and gave the stock a “hold” rating in a research report on Tuesday. Finally, Berenberg Bank reiterated a “sell” rating and set a $5.00 target price (down previously from $10.00) on shares of Mallinckrodt in a research note on Tuesday, May 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Mallinckrodt has a consensus rating of “Hold” and an average target price of $11.24.

A number of hedge funds have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC increased its stake in Mallinckrodt by 1.8% in the first quarter. Mason Street Advisors LLC now owns 44,405 shares of the company’s stock valued at $965,000 after purchasing an additional 765 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Mallinckrodt by 4.6% during the second quarter. Meeder Asset Management Inc. now owns 45,088 shares of the company’s stock worth $414,000 after buying an additional 2,003 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Mallinckrodt by 0.8% during the first quarter. Rhumbline Advisers now owns 267,983 shares of the company’s stock worth $5,826,000 after buying an additional 2,019 shares during the last quarter. Texas Permanent School Fund raised its stake in Mallinckrodt by 4.0% during the 1st quarter. Texas Permanent School Fund now owns 56,699 shares of the company’s stock valued at $1,233,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Mallinckrodt by 1,239.3% during the 2nd quarter. Parallel Advisors LLC now owns 3,000 shares of the company’s stock worth $28,000 after acquiring an additional 2,776 shares during the period.

MNK traded down $0.52 on Friday, hitting $3.36. 34,757,991 shares of the company were exchanged, compared to its average volume of 3,945,474. Mallinckrodt has a twelve month low of $1.43 and a twelve month high of $32.53. The company has a market cap of $176.42 million, a price-to-earnings ratio of 0.42, a price-to-earnings-growth ratio of 0.02 and a beta of 2.42. The company has a current ratio of 0.78, a quick ratio of 0.57 and a debt-to-equity ratio of 1.57. The firm has a 50-day moving average price of $4.64 and a two-hundred day moving average price of $12.75.

About Mallinckrodt

Mallinckrodt plc, together with its subsidiaries, develops, manufactures, markets, and distributes specialty pharmaceutical products and therapies in the United States, Europe, the Middle East, Africa, and internationally. It operates in two segments, Specialty Brands, and Specialty Generics and Amitiza.

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