$0.16 Earnings Per Share Expected for Impax Laboratories, Inc. (IPXL) This Quarter
Brokerages forecast that Impax Laboratories, Inc. (NASDAQ:IPXL) will report $0.16 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Impax Laboratories’ earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.34. Impax Laboratories also reported earnings of $0.16 per share in the same quarter last year. The business is expected to issue its next earnings report on Wednesday, March 7th.
On average, analysts expect that Impax Laboratories will report full year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $0.89. For the next year, analysts expect that the company will post earnings of $0.97 per share, with EPS estimates ranging from $0.71 to $1.15. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Impax Laboratories.
Impax Laboratories (NASDAQ:IPXL) last released its earnings results on Thursday, November 9th. The specialty pharmaceutical company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Impax Laboratories had a negative net margin of 56.59% and a positive return on equity of 9.06%. The firm had revenue of $206.40 million for the quarter, compared to the consensus estimate of $208.38 million. During the same period in the prior year, the firm earned $0.37 EPS. The company’s revenue was down 9.4% compared to the same quarter last year.
Several brokerages have recently weighed in on IPXL. Canaccord Genuity set a $19.00 price objective on shares of Impax Laboratories and gave the stock a “hold” rating in a research note on Wednesday, August 9th. BidaskClub lowered shares of Impax Laboratories from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Cowen and Company set a $20.00 price objective on shares of Impax Laboratories and gave the company a “hold” rating in a report on Wednesday, August 9th. Cantor Fitzgerald raised their target price on shares of Impax Laboratories from $25.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 10th. Finally, Piper Jaffray Companies set a $17.00 price objective on Impax Laboratories and gave the company a “hold” rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.60.
Impax Laboratories (NASDAQ IPXL) traded down $0.08 on Monday, reaching $16.67. 1,314,497 shares of the company’s stock traded hands, compared to its average volume of 1,859,455. The company has a quick ratio of 1.32, a current ratio of 1.81 and a debt-to-equity ratio of 1.59. The company has a market cap of $1,272.90, a PE ratio of 25.26, a P/E/G ratio of 1.08 and a beta of 0.99. Impax Laboratories has a 1-year low of $7.75 and a 1-year high of $25.70.
Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its position in shares of Impax Laboratories by 12.7% during the second quarter. Public Employees Retirement System of Ohio now owns 6,911 shares of the specialty pharmaceutical company’s stock worth $111,000 after buying an additional 780 shares during the period. Amalgamated Bank acquired a new stake in shares of Impax Laboratories during the third quarter worth $201,000. Stevens Capital Management LP acquired a new stake in shares of Impax Laboratories during the third quarter worth $203,000. Quantbot Technologies LP increased its position in shares of Impax Laboratories by 279.0% during the third quarter. Quantbot Technologies LP now owns 10,031 shares of the specialty pharmaceutical company’s stock worth $203,000 after buying an additional 7,384 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of Impax Laboratories during the second quarter worth $207,000. Institutional investors own 88.32% of the company’s stock.
About Impax Laboratories
Impax Laboratories, Inc is a specialty pharmaceutical company. The Company is engaged in the development, manufacture and marketing of bioequivalent pharmaceutical products (generics), in addition to the development and marketing of branded products. Its segments include Impax Generics and Impax Specialty Pharma.
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