Brokerages Anticipate PDL BioPharma Inc (PDLI) Will Post Earnings of $0.11 Per Share
Equities analysts forecast that PDL BioPharma Inc (NASDAQ:PDLI) will post earnings per share of $0.11 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for PDL BioPharma’s earnings, with the highest EPS estimate coming in at $0.18 and the lowest estimate coming in at $0.03. PDL BioPharma posted earnings of $0.01 per share in the same quarter last year, which indicates a positive year over year growth rate of 1,000%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that PDL BioPharma will report full-year earnings of $0.67 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $0.74. For the next year, analysts forecast that the business will report earnings of $0.51 per share, with EPS estimates ranging from $0.10 to $0.91. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for PDL BioPharma.
PDL BioPharma (NASDAQ:PDLI) last released its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. PDL BioPharma had a return on equity of 9.20% and a net margin of 24.51%. The business had revenue of $62.75 million during the quarter, compared to analyst estimates of $61.86 million. During the same quarter in the prior year, the company posted $0.08 EPS. PDL BioPharma’s quarterly revenue was up 17.0% compared to the same quarter last year.
PDLI has been the topic of several recent research reports. ValuEngine raised shares of PDL BioPharma from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Cowen reaffirmed a “hold” rating and issued a $3.00 price target on shares of PDL BioPharma in a report on Friday, October 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. PDL BioPharma presently has a consensus rating of “Buy” and a consensus price target of $3.33.
A number of hedge funds have recently added to or reduced their stakes in the business. California Public Employees Retirement System grew its position in PDL BioPharma by 12.2% in the 3rd quarter. California Public Employees Retirement System now owns 1,085,093 shares of the biotechnology company’s stock valued at $3,678,000 after buying an additional 117,993 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of PDL BioPharma by 64.0% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 49,062 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 19,144 shares in the last quarter. Highbridge Capital Management LLC raised its position in shares of PDL BioPharma by 562.4% in the 3rd quarter. Highbridge Capital Management LLC now owns 132,477 shares of the biotechnology company’s stock worth $449,000 after acquiring an additional 112,477 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of PDL BioPharma by 18.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 941,088 shares of the biotechnology company’s stock worth $3,191,000 after acquiring an additional 146,817 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of PDL BioPharma by 39.0% in the 3rd quarter. Mackenzie Financial Corp now owns 5,074,015 shares of the biotechnology company’s stock worth $17,201,000 after acquiring an additional 1,423,471 shares in the last quarter. Institutional investors own 88.37% of the company’s stock.
Shares of PDL BioPharma (NASDAQ:PDLI) traded down $0.15 during trading hours on Tuesday, hitting $2.74. The company’s stock had a trading volume of 1,239,705 shares, compared to its average volume of 1,420,859. PDL BioPharma has a fifty-two week low of $1.96 and a fifty-two week high of $3.55. The stock has a market capitalization of $422.89, a price-to-earnings ratio of 5.37 and a beta of 0.45. The company has a quick ratio of 3.10, a current ratio of 3.16 and a debt-to-equity ratio of 0.14.
PDL BioPharma announced that its board has approved a share buyback plan on Monday, September 25th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the biotechnology company to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
PDL BioPharma Company Profile
PDL BioPharma, Inc seeks to provide return for its shareholders by acquiring and managing a portfolio of companies, products, royalty agreements and debt facilities in the biotechnology, pharmaceutical and medical device industries. The Company’s segments include income generating assets and product sales.
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