What to Expect When Mylan Reports Earnings
Mylan is expected to release its second-quarter financial results after the markets close on Tuesday.
Mylan N.V. (NASDAQ: MYL) is set to release its second-quarter financial results after the markets close on Tuesday. The consensus estimates from Thomson Reuters are calling for $1.14 in earnings per share (EPS) on $2.57 billion in revenue. Mylan posted EPS of $0.91 and $2.37 billion in revenue in the same period of last year.
This is an analyst favorite and it sports a very appealing valuation. Mylan develops, licenses, manufactures, markets and distributes generic, branded generic and specialty pharmaceuticals worldwide.
Like other major pharmaceutical companies, Mylan provides generic or branded generic pharmaceutical products in tablet, capsule, injectable, transdermal patch, gel, cream or ointment forms, as well as active pharmaceutical ingredients (APIs). It is also involved in the development of APIs with non-infringing processes for internal use and to partner with manufacturers, and the manufacture and sale of injectable products in antineoplastics, anti-infectives, anesthesia/pain management and cardiovascular therapeutic areas.
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Mylan had attempted a takeover of drugmaker Perrigo last year, which was fought off, and the company has since announced the purchase of Meda and recent acquisition of Renaissance. Some analysts love the company’s very attractive valuation, and trading at roughly 10 times estimated 2016 earnings per share, it clearly is cheap.
Ahead during the second quarter, a few analysts weighed in on Mylan:
- Morgan Stanley reiterated a Hold rating.
- JPMorgan reiterated an Overweight rating.
- Goldman Sachs has a Buy rating with a $60 price target.
Excluding Tuesday’s move, Mylan has underperformed the broad markets, with the stock down 10%. Over the past 52 weeks, the stock is down 14%, but in just the last quarter the stock is up 19%.
Shares of Mylan were trading up 3% at $50.10 on Tuesday, with a consensus analyst price target of $58.06 and a 52-week trading range of $37.59 to $57.77.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
