Jefferies Group Brokers Cut Earnings Estimates for Mallinckrodt PLC (MNK)

Mallinckrodt PLC (NYSE:MNK) – Stock analysts at Jefferies Group decreased their Q4 2017 earnings estimates for Mallinckrodt PLC in a research report issued to clients and investors on Tuesday. Jefferies Group analyst A. Petrone now forecasts that the company will post earnings of $1.75 per share for the quarter, down from their previous estimate of $2.11. Jefferies Group has a “Buy” rating and a $30.00 price objective on the stock. Jefferies Group also issued estimates for Mallinckrodt PLC’s Q3 2018 earnings at $2.07 EPS, Q4 2018 earnings at $1.98 EPS, FY2018 earnings at $7.26 EPS, FY2019 earnings at $7.65 EPS and FY2020 earnings at $8.34 EPS.

Mallinckrodt PLC (NYSE:MNK) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.17. Mallinckrodt PLC had a net margin of 11.43% and a return on equity of 14.79%. The business had revenue of $793.90 million for the quarter, compared to analysts’ expectations of $808.93 million. During the same period last year, the business earned $2.04 EPS. The company’s revenue was down 10.5% compared to the same quarter last year.

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Other analysts have also recently issued reports about the stock. Oppenheimer Holdings, Inc. lowered their price target on shares of Mallinckrodt PLC from $70.00 to $48.00 in a report on Tuesday, September 19th. Piper Jaffray Companies set a $85.00 price target on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Sunday, July 16th. Canaccord Genuity set a $87.00 price target on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Monday, July 17th. Deutsche Bank AG set a $56.00 price target on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, UBS AG set a $70.00 price target on shares of Mallinckrodt PLC and gave the company a “buy” rating in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $50.44.

Shares of Mallinckrodt PLC (MNK) opened at $21.76 on Friday. Mallinckrodt PLC has a 1-year low of $19.00 and a 1-year high of $68.12. The firm has a market cap of $2,067.31, a PE ratio of 2.94, a PEG ratio of 0.32 and a beta of 1.46. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.38 and a quick ratio of 0.81.

In other Mallinckrodt PLC news, insider Meredith B. Fischer purchased 1,280 shares of Mallinckrodt PLC stock in a transaction on Wednesday, August 30th. The stock was bought at an average cost of $39.63 per share, with a total value of $50,726.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.77% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MNK. OppenheimerFunds Inc. raised its position in Mallinckrodt PLC by 23.1% during the 1st quarter. OppenheimerFunds Inc. now owns 8,887 shares of the company’s stock worth $396,000 after buying an additional 1,666 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Mallinckrodt PLC during the 1st quarter worth approximately $373,000. Teachers Advisors LLC grew its stake in shares of Mallinckrodt PLC by 4.3% during the 1st quarter. Teachers Advisors LLC now owns 187,286 shares of the company’s stock worth $8,347,000 after purchasing an additional 7,753 shares during the period. Amalgamated Bank grew its stake in shares of Mallinckrodt PLC by 6.2% during the 1st quarter. Amalgamated Bank now owns 7,625 shares of the company’s stock worth $340,000 after purchasing an additional 447 shares during the period. Finally, Xact Kapitalforvaltning AB grew its stake in shares of Mallinckrodt PLC by 4.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,525 shares of the company’s stock worth $382,000 after purchasing an additional 374 shares during the period. 97.96% of the stock is owned by institutional investors.

Mallinckrodt PLC Company Profile

Mallinckrodt public limited company develops, manufactures, markets and distributes branded and generic specialty pharmaceutical products and therapies. The Company focuses on various therapeutic areas, such as autoimmune and rare disease specialty areas, including neurology, rheumatology, nephrology, ophthalmology and pulmonology; immunotherapy and neonatal critical care respiratory therapies; analgesics and hemostasis products, and central nervous system drugs.

Earnings History and Estimates for Mallinckrodt PLC (NYSE:MNK)

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