Equities research analysts expect Mallinckrodt PLC (NYSE:MNK) to announce sales of $635.31 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Mallinckrodt’s earnings, with estimates ranging from $614.80 million to $650.10 million. Mallinckrodt reported sales of $793.90 million during the same quarter last year, which indicates a negative year over year growth rate of 20%. The firm is expected to report its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Mallinckrodt will report full-year sales of $2.48 billion for the current financial year, with estimates ranging from $2.45 billion to $2.50 billion. For the next year, analysts expect that the business will post sales of $2.52 billion per share, with estimates ranging from $2.28 billion to $2.62 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Mallinckrodt.

Mallinckrodt (NYSE:MNK) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.30. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. The business had revenue of $631.70 million during the quarter, compared to analyst estimates of $621.15 million.

A number of brokerages recently weighed in on MNK. Berenberg Bank began coverage on shares of Mallinckrodt in a report on Friday, September 14th. They issued a “sell” rating and a $25.00 price target on the stock. Goldman Sachs Group downgraded shares of Mallinckrodt from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $27.00 to $28.00 in a report on Tuesday, September 11th. Zacks Investment Research downgraded shares of Mallinckrodt from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. B. Riley boosted their price target on shares of Mallinckrodt from $20.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 24th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Mallinckrodt in a report on Wednesday, August 22nd. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $32.62.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC lifted its holdings in Mallinckrodt by 1.7% during the second quarter. Vident Investment Advisory LLC now owns 166,782 shares of the company’s stock valued at $3,112,000 after purchasing an additional 2,807 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Mallinckrodt by 22.7% in the first quarter. PNC Financial Services Group Inc. now owns 23,662 shares of the company’s stock worth $343,000 after buying an additional 4,381 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Mallinckrodt by 46.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 15,238 shares of the company’s stock worth $284,000 after buying an additional 4,853 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Mallinckrodt by 17.1% in the first quarter. Guggenheim Capital LLC now owns 40,863 shares of the company’s stock worth $592,000 after buying an additional 5,958 shares in the last quarter. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Mallinckrodt by 12.7% in the first quarter. Baker Avenue Asset Management LP now owns 59,463 shares of the company’s stock worth $861,000 after buying an additional 6,720 shares in the last quarter.

Shares of NYSE:MNK traded down $0.11 during midday trading on Friday, reaching $29.68. The company had a trading volume of 98,848 shares, compared to its average volume of 3,403,502. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.06 and a current ratio of 2.27. The company has a market capitalization of $2.54 billion, a P/E ratio of 4.00, a price-to-earnings-growth ratio of 0.51 and a beta of 1.55. Mallinckrodt has a 52-week low of $11.65 and a 52-week high of $39.05.

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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