Zacks Investment Research upgraded shares of GlaxoSmithKline plc (NYSE:GSK) from a hold rating to a buy rating in a research report sent to investors on Wednesday, October 18th. They currently have $46.00 price objective on the pharmaceutical company’s stock.
According to Zacks, “Glaxo enjoys a diversified base and presence in different geographical areas. Glaxo should continue to see strong performance in its Pharmaceuticals and Vaccines business units. We are positive on the company’s efforts to develop its pipeline. We think Glaxo possesses one of the stronger late-stage pipelines in large-cap pharma. Performance of new products as well as of those acquired from Novartis has been encouraging. Glaxo’s shares have outperformed the broader industry in the past one month. However, persistent challenges like stiff competition, genericization and pricing pressure along with slowing growth in emerging markets have been impacting the company’s performance. The slowdown in sales of the Consumer Healthcare segment this year is also a concern. Estimates have remained stable of Glaxo’s Q3 earnings release. The company recorded a string of positive earnings surprises in recent quarters.”
Several other equities analysts also recently weighed in on GSK. JPMorgan Chase & Co. restated a neutral rating on shares of GlaxoSmithKline plc in a report on Thursday, September 21st. Citigroup Inc. downgraded GlaxoSmithKline plc from a buy rating to a neutral rating in a report on Wednesday, July 5th. BidaskClub downgraded GlaxoSmithKline plc from a sell rating to a strong sell rating in a report on Monday, July 24th. TheStreet cut GlaxoSmithKline plc from a b rating to a c+ rating in a research report on Wednesday, July 26th. Finally, Argus reaffirmed a buy rating and set a $50.00 price objective on shares of GlaxoSmithKline plc in a research report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $44.33.
GlaxoSmithKline plc (NYSE GSK) traded down 0.287% during trading on Wednesday, reaching $36.495. 2,524,942 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $40.48 and its 200 day moving average price is $41.49. GlaxoSmithKline plc has a 52-week low of $36.20 and a 52-week high of $44.54. The firm has a market cap of $89.19 billion, a P/E ratio of 35.363 and a beta of 1.03.
GlaxoSmithKline plc (NYSE:GSK) last posted its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. GlaxoSmithKline plc had a return on equity of 461.88% and a net margin of 17.79%. The business had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $9.52 billion. Equities research analysts anticipate that GlaxoSmithKline plc will post $2.89 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 10th will be paid a $0.5037 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.01 annualized dividend and a dividend yield of 5.51%. This is an increase from GlaxoSmithKline plc’s previous quarterly dividend of $0.49. GlaxoSmithKline plc’s dividend payout ratio (DPR) is 162.30%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. 1st Global Advisors Inc. raised its stake in shares of GlaxoSmithKline plc by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock worth $227,000 after buying an additional 19 shares during the period. Carroll Financial Associates Inc. raised its stake in shares of GlaxoSmithKline plc by 0.4% in the second quarter. Carroll Financial Associates Inc. now owns 8,690 shares of the pharmaceutical company’s stock worth $374,000 after buying an additional 35 shares during the period. King Luther Capital Management Corp raised its stake in shares of GlaxoSmithKline plc by 1.0% in the second quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock worth $234,000 after buying an additional 55 shares during the period. First National Bank of Omaha raised its stake in shares of GlaxoSmithKline plc by 0.3% in the second quarter. First National Bank of Omaha now owns 19,177 shares of the pharmaceutical company’s stock worth $827,000 after buying an additional 57 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of GlaxoSmithKline plc by 1.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 64 shares during the period. 9.31% of the stock is currently owned by hedge funds and other institutional investors.
GlaxoSmithKline plc Company Profile
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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