B. Riley Research Analysts Boost Earnings Estimates for Mallinckrodt PLC (MNK)

Mallinckrodt PLC (NYSE:MNK) – B. Riley boosted their Q3 2018 EPS estimates for shares of Mallinckrodt in a research note issued to investors on Friday, August 24th. B. Riley analyst D. Buck now forecasts that the company will earn $1.85 per share for the quarter, up from their previous estimate of $1.61. B. Riley has a “Neutral” rating and a $37.00 price objective on the stock. B. Riley also issued estimates for Mallinckrodt’s Q4 2018 earnings at $1.86 EPS.

Mallinckrodt (NYSE:MNK) last posted its quarterly earnings data on Tuesday, August 7th. The company reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.30. Mallinckrodt had a return on equity of 10.39% and a net margin of 59.85%. The business had revenue of $631.70 million for the quarter, compared to analyst estimates of $621.15 million.

A number of other research firms have also weighed in on MNK. Zacks Investment Research raised Mallinckrodt from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Monday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Mallinckrodt in a research report on Wednesday, August 22nd. Canaccord Genuity set a $34.00 price objective on Mallinckrodt and gave the stock a “hold” rating in a research report on Sunday, August 19th. Morgan Stanley upped their price objective on Mallinckrodt from $14.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, August 17th. Finally, SunTrust Banks upped their price objective on Mallinckrodt to $32.00 and gave the stock a “positive” rating in a research report on Monday, August 13th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $34.45.

Mallinckrodt stock opened at $35.19 on Monday. Mallinckrodt has a twelve month low of $11.65 and a twelve month high of $41.70. 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 firm has a market cap of $2.95 billion, a PE ratio of 4.80, a P/E/G ratio of 0.59 and a beta of 1.36.

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

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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