$572.28 Million in Sales Expected for Mallinckrodt (MNK) This Quarter

Wall Street brokerages forecast that Mallinckrodt (NYSE:MNK) will announce $572.28 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Mallinckrodt’s earnings, with the lowest sales estimate coming in at $552.98 million and the highest estimate coming in at $589.00 million. Mallinckrodt posted sales of $810.90 million during the same quarter last year, which suggests a negative year over year growth rate of 29.4%. The firm is expected to report its next earnings results before the market opens on Tuesday, May 8th.

On average, analysts expect that Mallinckrodt will report full-year sales of $2.46 billion for the current financial year, with estimates ranging from $2.44 billion to $2.49 billion. For the next financial year, analysts expect that the business will report sales of $2.50 billion per share, with estimates ranging from $2.30 billion to $2.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Mallinckrodt.

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Mallinckrodt (NYSE:MNK) last released its earnings results on Tuesday, February 27th. The company reported $2.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.29. The firm had revenue of $792.30 million for the quarter, compared to the consensus estimate of $769.91 million. Mallinckrodt had a return on equity of 13.43% and a net margin of 66.25%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 EPS.

MNK has been the subject of a number of recent analyst reports. ValuEngine cut Mallinckrodt from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Wells Fargo restated a “hold” rating on shares of Mallinckrodt in a report on Thursday, April 12th. Goldman Sachs restated a “hold” rating on shares of Mallinckrodt in a report on Tuesday, December 26th. Canaccord Genuity set a $24.00 price objective on Mallinckrodt and gave the company a “hold” rating in a report on Sunday, January 7th. Finally, Oppenheimer restated a “hold” rating on shares of Mallinckrodt in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $33.89.

Several hedge funds have recently modified their holdings of MNK. New York State Common Retirement Fund lifted its holdings in shares of Mallinckrodt by 4.6% in the 3rd quarter. New York State Common Retirement Fund now owns 221,000 shares of the company’s stock worth $8,259,000 after buying an additional 9,800 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Mallinckrodt by 6.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 433,563 shares of the company’s stock worth $16,203,000 after buying an additional 27,908 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mallinckrodt by 16.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,522,330 shares of the company’s stock worth $94,255,000 after buying an additional 360,516 shares during the period. Stifel Financial Corp lifted its holdings in shares of Mallinckrodt by 26.5% in the 3rd quarter. Stifel Financial Corp now owns 35,182 shares of the company’s stock worth $1,315,000 after buying an additional 7,377 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Mallinckrodt by 723.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 168,481 shares of the company’s stock worth $6,274,000 after buying an additional 148,033 shares during the period.

Shares of NYSE MNK traded up $0.11 during trading hours on Friday, hitting $13.97. 1,460,397 shares of the company traded hands, compared to its average volume of 3,776,669. Mallinckrodt has a 12 month low of $13.32 and a 12 month high of $49.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.85 and a current ratio of 2.18. The company has a market cap of $1,190.77, a P/E ratio of 1.86, a P/E/G ratio of 0.34 and a beta of 1.12.

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Mallinckrodt Company Profile

Mallinckrodt public limited company develops, manufactures, markets, and distributes branded pharmaceutical products in Canada and the European Union, as well as in Latin American, the Middle Eastern, African, and the Asia-Pacific regions. The company markets branded pharmaceutical products for autoimmune and rare diseases in the specialty areas of neurology, rheumatology, nephrology, ophthalmology, and pulmonology; and immunotherapy and neonatal respiratory critical care therapies, as well as analgesics and gastrointestinal products.

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Earnings History and Estimates for Mallinckrodt (NYSE:MNK)

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