PDL BioPharma, Inc. (PDLI) Earnings Preview: What To Focus On

32 days have passed by since the last earnings report for PDL BioPharma, Inc. (NASDAQ:PDLI) and the new quarterly results look set to arrive in 59 days. The shares of PDLI at the moment are trading at a volume of 1.11 million, which compares with its normal daily standard volume of 1136544 shares. This has led to the shares of the company declining by -2.64%, currently exchanging hands at $2.21 a share. PDLI stock has been up by $1.68 (-43.19%) ever since it reached its 52-week high of $3.89 back in April 11, 2019. It has progressed below its 50-day moving average of $2.6774 and is down -10.53% over the past week. The stock has retreated -23% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the PDLI share price due for a breakout?

PDL BioPharma, Inc. (PDLI) Forecasts And Latest Quarter Earnings

Ahead of their fiscal third-quarter to be released on Wednesday, Nov 06, 2019, 1 analysts who are covering the company are estimating that it will record a profit of $0.05 per share, with analysts having different outlooks from $0.05 to $0.05. The current agreed outlook, when compared to the profit recorded last year, is at $0.18 a share, thus a decrease of -72.22% is expected. The profit view for a complete financial year for PDL BioPharma, Inc. is expected to be around $0.11 in current year, a growth of nearly -123.4% from last year which was -$0.47.

Analyzing The Earnings History Of PDL BioPharma, Inc. (NASDAQ:PDLI)

In the past few years, the PDLI stock has been known to miss the Wall Street’s earnings projection. The company missed 16% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 8 times. Looking at the past trend, the price of PDL BioPharma, Inc. shares had risen following the release of their earnings in 22 of the last 38 quarters.

Looking back, here is how PDL BioPharma, Inc. (PDLI) stock reacted to earnings misses and beats. It gave investors reason to cast doubts with the price going down after 2 of the last four earnings reports. The shares of PDL BioPharma, Inc. recorded -1.05%, -0.91%, 2.01% and 17.89%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -8.71%, -7.9%, 8.91% and 17.48%. Their post-earnings price movements have resulted in an average increase of 4.49% and an average increase of 2.45% in PDL BioPharma, Inc. on next day and 7th day, sequentially. PDLI’s one month stock performance led to its shares declining by -23% with a return of -12.3% witnessed over the last 52 weeks.

PDL BioPharma, Inc. (PDLI) Post Earnings Announcement Drift (PEAD)

Back on August 07, 2019, PDL BioPharma, Inc. (NASDAQ:PDLI) released its Q2 results, in which it recorded a loss of -$0.04 that fell short of consensus estimates of $0.04. After the earnings were reported, the price of PDLI stock kicked off the session at $2.8 and remained in a range of $2.87 to $2.91 on the first day. The shares were priced at $2.84 at the close with a total volume of shares being 694201.

On May 09, 2019, the Q1 earnings report was disclosed with EPS of $0.05. This was below the estimation of $0.08 per share. The stock price range of PDLI was between $3.28 and $3.29 on the first-day post announcement, after opening the day at $3.1. The session came to close at $3.26 and there was a total volume of 1276966 shares.

March 14, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.11, beating the projected $0.08 per share. The very next day, PDLI stock opened at $3.47 while staying in a range of $3.5 to $3.61. At the end, it moved to $3.55 a total volume of shares been 3604806.

In the year-ago Q3 earnings on November 06, 2018, the company saw profit per share of $0.18. That was better than the $0.07 analysts had expected. PDL BioPharma, Inc. share price started at $2.6 on the first full trading day post-earning and then exchanged hands between $2.65 and $2.96 throughout the session. The closing price of $2.9 came on the back of 5587071 shares in volume.