FY2017 Earnings Forecast for Shire PLC (SHPG) Issued By Cantor Fitzgerald
Shire PLC (NASDAQ:SHPG) – Research analysts at Cantor Fitzgerald upped their FY2017 earnings estimates for Shire PLC in a report released on Tuesday. Cantor Fitzgerald analyst L. Chen now forecasts that the biopharmaceutical company will earn $14.80 per share for the year, up from their prior estimate of $14.41. Cantor Fitzgerald has a “Buy” rating and a $222.00 price target on the stock. Cantor Fitzgerald also issued estimates for Shire PLC’s FY2018 earnings at $15.61 EPS.
SHPG has been the subject of several other reports. Piper Jaffray Companies set a $159.00 price objective on Shire PLC and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Zacks Investment Research cut Shire PLC from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Sanford C. Bernstein cut Shire PLC from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $209.22 to $161.09 in a research report on Thursday, May 25th. HSBC Holdings plc cut Shire PLC from a “hold” rating to a “reduce” rating in a research report on Friday, May 19th. Finally, BidaskClub cut Shire PLC from a “sell” rating to a “strong sell” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $223.18.
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Shares of Shire PLC (NASDAQ SHPG) opened at 156.86 on Wednesday. The stock’s 50 day moving average price is $166.27 and its 200-day moving average price is $172.96. Shire PLC has a 1-year low of $155.06 and a 1-year high of $209.22. The stock has a market capitalization of $46.72 billion, a P/E ratio of 160.88 and a beta of 1.60.
Shire PLC (NASDAQ:SHPG) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $3.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.53 by $0.20. Shire PLC had a return on equity of 14.10% and a net margin of 4.70%. The company had revenue of $3.75 billion during the quarter. During the same period last year, the business earned $3.38 earnings per share. The firm’s revenue for the quarter was up 54.2% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Shire PLC by 4,217.7% in the first quarter. BlackRock Inc. now owns 1,433,475 shares of the biopharmaceutical company’s stock valued at $249,755,000 after buying an additional 1,400,275 shares in the last quarter. Glenview Capital Management LLC acquired a new stake in Shire PLC during the first quarter valued at about $176,927,000. Boston Partners raised its stake in Shire PLC by 80.7% in the first quarter. Boston Partners now owns 1,359,151 shares of the biopharmaceutical company’s stock valued at $236,805,000 after buying an additional 606,814 shares in the last quarter. Jana Partners LLC acquired a new stake in Shire PLC during the first quarter valued at about $94,903,000. Finally, New South Capital Management Inc. acquired a new stake in Shire PLC during the first quarter valued at about $87,954,000. Hedge funds and other institutional investors own 21.04% of the company’s stock.
About Shire PLC
Shire plc is a biotech company focused on serving people with rare diseases and other specialized conditions. The Company’s segment is engaged in research, development, licensing, manufacturing, marketing, distribution and sale of specialist medicines. It focuses its development resources on projects in various therapeutic areas (TAs), including Neuroscience, Ophthalmology, Hematology, Oncology, Immunology, Gastrointestinal (GI)/Metabolic/Endocrinology Diseases.
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