Brokerages Expect Celgene Co. (NASDAQ:CELG) Will Post Earnings of $2.62 Per Share

Equities research analysts expect Celgene Co. (NASDAQ:CELG) to post $2.62 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Celgene’s earnings, with the lowest EPS estimate coming in at $2.49 and the highest estimate coming in at $2.80. Celgene reported earnings per share of $2.16 during the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The business is scheduled to announce its next earnings report on Thursday, July 25th.

According to Zacks, analysts expect that Celgene will report full year earnings of $10.72 per share for the current year, with EPS estimates ranging from $10.52 to $11.20. For the next year, analysts anticipate that the company will report earnings of $12.45 per share, with EPS estimates ranging from $11.68 to $13.35. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Celgene.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.10. The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.01 billion. Celgene had a net margin of 30.10% and a return on equity of 106.69%. Celgene’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS.

CELG has been the subject of several recent analyst reports. ValuEngine raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Saturday, March 30th. William Blair cut shares of Celgene from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. UBS Group lowered shares of Celgene from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $94.00 to $102.00 in a research note on Monday, April 1st. Atlantic Securities lowered shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 price target for the company. in a research note on Monday, April 1st. Finally, Sanford C. Bernstein lowered shares of Celgene from an “outperform” rating to a “market perform” rating in a research note on Monday, April 1st. Nineteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $95.56.

Shares of Celgene stock opened at $92.44 on Friday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.78 and a quick ratio of 2.66. The stock has a market capitalization of $65.13 billion, a PE ratio of 12.15, a PEG ratio of 0.44 and a beta of 1.57. Celgene has a 52-week low of $58.59 and a 52-week high of $98.97. The business has a 50-day moving average price of $95.51.

Hedge funds have recently made changes to their positions in the company. Archford Capital Strategies LLC grew its position in Celgene by 277.8% during the first quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares during the period. Investors Research Corp bought a new stake in Celgene during the first quarter valued at approximately $28,000. Weaver Consulting Group bought a new stake in Celgene during the first quarter valued at approximately $29,000. Alera Investment Advisors LLC grew its position in Celgene by 109.9% during the first quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 167 shares during the period. Finally, Mizuho Securities Co. Ltd. bought a new stake in Celgene during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 75.00% of the company’s stock.

Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Earnings History and Estimates for Celgene (NASDAQ:CELG)

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