Forest Laboratories, Inc. (FRX) Crushes Earnings Estimates

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Forest Laboratories, Inc. (FRX) Crushes Earnings Estimates
By Forest Laboratories, Inc. (Forest Laboratories, Inc.) [Public domain], <a href="https://commons.wikimedia.org/wiki/File%3AForest_Laboratories.svg">via Wikimedia Commons</a>
Forest Laboratories, Inc. (NYSE:FRX) reported its earnings for the three months through September this morning before the market opened on Wall Street. The company showed earnings of 26 cents per share on revenue totaling $855 million. On yesterday’s market shares int he pharmaceuticals company fell a fraction and closed the day at $44.31.
Forest Laboratories, Inc. (FRX) Crushes Earnings Estimates
In the run up to the release of this report analysts following Forest Laboratories, Inc.(NYSE:FRX) were looking for earnings of 15 cents per share by consensus. Revenue for the company’s second quarter of 2014 were expected to come in at $842 million. In the same three months of the company’s 2013 financial year, Forest Labs earned 15 cents per share on revenue totaling $761 million.

Forest Laboratories earnings

Forest Laboratories, Inc. (NYSE:FRX) designs and manufactures ethical drugs. The firm has drugs that treat high blood pressure, Alzheimer’s, and pulmonary disease among other conditions. The firm has many different drugs at different stages of development.

Forest Laboratories, Inc. (NYSE:FRX) earnings will likely not hit their 2012 levels for years, but investors seem confident that the company can grow at a reasonable rate until it does regain those losses. The firm’s stock was close to 52 week high when it closed on Monday afternoon.

Forest Laboratories performance

Since 2013 opened, shares in Forest Laboratories, Inc. (NYSE:FRX) have performed well. The company’s stock has appreciated by 25% since January 1, benefiting from a booming stock market and better than expected earnings in April and July. The growth in the value of the company’s stock has stalled in the last three months as taper talk and a difficult political climate took hold of the stock market.

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Shares in Forest Laboratories, Inc. (NYSE:FRX) are currently trading at more than 45 times expected 2014 earnings. The company is expected to expand quickly in the coming years as its brand of ethical pharmaceuticals take off. Later on this morning, at !0 AM EDT, Forest Labs executives will host a conference call to discuss this earnings report.

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