$0.08 EPS Expected for PDL BioPharma Inc (PDLI) This Quarter

Equities analysts expect PDL BioPharma Inc (NASDAQ:PDLI) to announce earnings of $0.08 per share for the current quarter, Zacks reports. Zero analysts have provided estimates for PDL BioPharma’s earnings. PDL BioPharma posted earnings per share of $0.17 during the same quarter last year, which suggests a negative year over year growth rate of 52.9%. The company is expected to issue its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that PDL BioPharma will report full-year earnings of ($0.52) per share for the current financial year, with EPS estimates ranging from ($0.53) to ($0.50). For the next year, analysts forecast that the business will report earnings of $0.13 per share, with EPS estimates ranging from $0.10 to $0.15. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for PDL BioPharma.

PDL BioPharma (NASDAQ:PDLI) last announced its earnings results on Tuesday, November 6th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. The company had revenue of $67.90 million during the quarter. PDL BioPharma had a negative net margin of 28.41% and a positive return on equity of 7.72%.

A number of equities research analysts have recently issued reports on the stock. ValuEngine cut shares of PDL BioPharma from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Cowen reissued a “hold” rating and issued a $3.00 target price on shares of PDL BioPharma in a research report on Tuesday, November 6th. BidaskClub raised shares of PDL BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. Finally, TheStreet cut shares of PDL BioPharma from a “c-” rating to a “d+” rating in a research report on Friday, August 17th. One analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $3.25.

Shares of PDL BioPharma stock traded down $0.15 during trading on Friday, reaching $2.97. The company’s stock had a trading volume of 2,317,164 shares, compared to its average volume of 2,079,837. The stock has a market cap of $448.15 million, a PE ratio of 4.71 and a beta of 0.26. PDL BioPharma has a 52 week low of $2.25 and a 52 week high of $3.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 10.61 and a current ratio of 10.88.

PDL BioPharma declared that its board has approved a share buyback plan on Monday, September 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the biotechnology company to buy up to 27.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in PDL BioPharma by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 12,514,490 shares of the biotechnology company’s stock valued at $29,284,000 after purchasing an additional 996,690 shares in the last quarter. Systematic Financial Management LP raised its stake in PDL BioPharma by 21.7% in the third quarter. Systematic Financial Management LP now owns 603,460 shares of the biotechnology company’s stock valued at $1,587,000 after purchasing an additional 107,610 shares in the last quarter. GSA Capital Partners LLP raised its stake in PDL BioPharma by 9.6% in the second quarter. GSA Capital Partners LLP now owns 430,100 shares of the biotechnology company’s stock valued at $1,006,000 after purchasing an additional 37,824 shares in the last quarter. West Family Investments Inc. acquired a new position in PDL BioPharma in the second quarter valued at about $791,000. Finally, MetLife Investment Advisors LLC raised its stake in PDL BioPharma by 81.3% in the second quarter. MetLife Investment Advisors LLC now owns 76,001 shares of the biotechnology company’s stock valued at $178,000 after purchasing an additional 34,078 shares in the last quarter. 85.85% of the stock is owned by institutional investors and hedge funds.

About PDL BioPharma

PDL BioPharma, Inc acquires and manages companies, products, royalty agreements, and debt facilities in the biotechnology, pharmaceutical, and medical device industries in the United States, Europe, and internationally. The company operates in three segments: Income Generating Assets, Pharmaceutical, and Medical Devices.

See Also: Leveraged Buyout (LBO)

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