Mallinckrodt (MNK) Releases FY18 Earnings Guidance

Mallinckrodt (NYSE:MNK) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $7.00-7.20 for the period, compared to the Thomson Reuters consensus estimate of $6.75. Mallinckrodt also updated its FY 2018 guidance to $7.00-7.20 EPS.

Several equities analysts have commented on the stock. Berenberg Bank set a $23.00 price target on shares of Mallinckrodt and gave the company a sell rating in a research note on Wednesday. Raymond James lowered shares of Mallinckrodt from an outperform rating to a market perform rating and set a $58.00 price target on the stock. in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Wells Fargo & Co set a $27.00 price target on shares of Mallinckrodt and gave the company a hold rating in a research note on Tuesday. Mizuho reiterated a hold rating and issued a $27.00 price target on shares of Mallinckrodt in a research note on Tuesday. Finally, Morgan Stanley increased their price target on shares of Mallinckrodt from $14.00 to $35.00 and gave the company an equal weight rating in a research note on Friday, August 17th. 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. The stock has a consensus rating of Hold and an average target price of $31.95.

Shares of MNK traded up $1.12 during mid-day trading on Wednesday, reaching $30.76. 2,282,454 shares of the company’s stock were exchanged, compared to its average volume of 3,173,272. The company has a current ratio of 2.27, a quick ratio of 2.06 and a debt-to-equity ratio of 0.98. The firm has a market cap of $2.22 billion, a PE ratio of 4.11, a price-to-earnings-growth ratio of 0.38 and a beta of 1.71. Mallinckrodt has a 52-week low of $11.65 and a 52-week high of $36.65.

Mallinckrodt (NYSE:MNK) last announced its earnings results on Tuesday, November 6th. The company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.31. The business had revenue of $640.00 million for the quarter, compared to analyst estimates of $634.38 million. Mallinckrodt had a net margin of 59.85% and a return on equity of 10.39%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.97 earnings per share. As a group, equities research analysts forecast that Mallinckrodt will post 6.71 EPS for the current fiscal year.

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About Mallinckrodt

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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