Brokerages Anticipate Pacific Biosciences of California (NASDAQ:PACB) Will Announce Earnings of -$0.18 Per Share

Wall Street brokerages expect that Pacific Biosciences of California (NASDAQ:PACB) will report earnings per share of ($0.18) for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Pacific Biosciences of California’s earnings, with estimates ranging from ($0.19) to ($0.16). Pacific Biosciences of California reported earnings per share of ($0.17) in the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The company is expected to report its next earnings report on Thursday, August 1st.

On average, analysts expect that Pacific Biosciences of California will report full-year earnings of ($0.61) per share for the current financial year, with EPS estimates ranging from ($0.68) to ($0.55). For the next year, analysts anticipate that the company will post earnings of ($0.41) per share, with EPS estimates ranging from ($0.49) to ($0.33). Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Pacific Biosciences of California.

Pacific Biosciences of California (NASDAQ:PACB) last issued its quarterly earnings results on Friday, May 3rd. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $16.43 million during the quarter, compared to the consensus estimate of $21.83 million. Pacific Biosciences of California had a negative return on equity of 102.01% and a negative net margin of 143.62%.

Several analysts have weighed in on the stock. ValuEngine lowered shares of Pacific Biosciences of California from a “strong-buy” rating to a “buy” rating in a research note on Thursday. BidaskClub lowered shares of Pacific Biosciences of California from a “sell” rating to a “strong sell” rating in a research note on Thursday. Cantor Fitzgerald reiterated a “hold” rating on shares of Pacific Biosciences of California in a research note on Thursday. Zacks Investment Research upgraded shares of Pacific Biosciences of California from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Stephens lowered shares of Pacific Biosciences of California from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $4.50 to $8.00 in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.11.

PACB stock traded down $0.01 during trading on Friday, hitting $6.65. 1,144,728 shares of the company’s stock traded hands, compared to its average volume of 1,597,717. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.50 and a quick ratio of 2.06. Pacific Biosciences of California has a 52 week low of $3.25 and a 52 week high of $7.84. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -8.75 and a beta of 2.29.

A number of hedge funds have recently added to or reduced their stakes in PACB. Bank of New York Mellon Corp grew its position in shares of Pacific Biosciences of California by 12.0% during the third quarter. Bank of New York Mellon Corp now owns 546,299 shares of the biotechnology company’s stock worth $2,955,000 after acquiring an additional 58,409 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Pacific Biosciences of California by 8.0% during the third quarter. Teachers Advisors LLC now owns 230,404 shares of the biotechnology company’s stock worth $1,246,000 after acquiring an additional 17,110 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Pacific Biosciences of California by 6.4% during the third quarter. Vanguard Group Inc. now owns 6,311,846 shares of the biotechnology company’s stock worth $34,148,000 after acquiring an additional 377,272 shares during the last quarter. Strs Ohio bought a new position in shares of Pacific Biosciences of California during the fourth quarter worth about $325,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Pacific Biosciences of California by 37.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,580 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 2,628 shares during the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.

About Pacific Biosciences of California

Pacific Biosciences of California, Inc designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company's single molecule real-time (SMRT) sequencing technology enables single molecule real-time detection of biological processes. It offers PacBio RS II and Sequel Systems that conducts, monitors, and analyzes single molecule biochemical reactions in real time.

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Earnings History and Estimates for Pacific Biosciences of California (NASDAQ:PACB)

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