Brokerages Anticipate PDL BioPharma Inc (PDLI) to Announce $0.04 EPS

Analysts predict that PDL BioPharma Inc (NASDAQ:PDLI) will announce $0.04 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for PDL BioPharma’s earnings. PDL BioPharma posted earnings per share of $0.10 in the same quarter last year, which indicates a negative year over year growth rate of 60%. The company is expected to announce its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that PDL BioPharma will report full year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.15 to $0.21. For the next financial year, analysts forecast that the firm will post earnings of $0.17 per share, with EPS estimates ranging from $0.10 to $0.24. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover PDL BioPharma.

PDL BioPharma (NASDAQ:PDLI) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported $0.08 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.08. The firm had revenue of $38.91 million for the quarter. PDL BioPharma had a negative net margin of 32.13% and a positive return on equity of 6.86%. During the same period in the prior year, the firm earned $0.01 earnings per share.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of PDL BioPharma from a “sell” rating to a “hold” rating and set a $3.25 price objective on the stock in a report on Wednesday, May 29th. BidaskClub cut PDL BioPharma from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Cowen reiterated a “hold” rating on shares of PDL BioPharma in a research note on Thursday, May 9th. ValuEngine upgraded PDL BioPharma from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. Finally, TheStreet upgraded PDL BioPharma from a “d+” rating to a “c-” rating in a research note on Wednesday, February 6th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.13.

PDLI traded down $0.06 during mid-day trading on Friday, reaching $2.90. 15,916 shares of the stock were exchanged, compared to its average volume of 1,276,845. The company has a debt-to-equity ratio of 0.18, a current ratio of 11.02 and a quick ratio of 10.67. The company has a market capitalization of $351.77 million, a price-to-earnings ratio of 7.85 and a beta of 0.60. PDL BioPharma has a 1 year low of $2.25 and a 1 year high of $3.89.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC purchased a new stake in PDL BioPharma in the first quarter worth approximately $38,000. TrinityPoint Wealth LLC purchased a new stake in shares of PDL BioPharma during the first quarter valued at approximately $53,000. Two Sigma Securities LLC purchased a new stake in shares of PDL BioPharma during the fourth quarter valued at approximately $61,000. Legal & General Group Plc boosted its stake in shares of PDL BioPharma by 24.2% during the fourth quarter. Legal & General Group Plc now owns 26,678 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 5,197 shares during the period. Finally, CAPROCK Group Inc. purchased a new stake in shares of PDL BioPharma during the fourth quarter valued at approximately $95,000. 95.70% of the stock is owned by institutional investors.

About PDL BioPharma

PDL BioPharma, Inc acquires, manages, and commercializes commercial stage pharmaceutical assets and late clinical stage pharmaceutical products in the United States, Europe, and internationally. The company operates in three segments: Pharmaceutical, Medical Devices, and Income Generating Assets. The Pharmaceutical segment manufactures, markets, and sells prescription medicine products for the treatment of hypertension to wholesalers under the Tekturna and Tekturna HCT names in the United States, as well as under the Rasilez and Rasilez HCT names internationally.

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