Stock Track | Grifols SA Plummets 5.09% as Q3 Earnings Miss Analyst Expectations

Stock Track11-05

Grifols SA (GRFS) saw its stock price plummet 5.09% during intraday trading on Tuesday, following the release of its third-quarter earnings report that fell short of analyst expectations. The Spanish pharmaceutical company's shares declined as investors reacted to the earnings miss, despite overall revenue growth.

According to the earnings summary, Grifols reported adjusted earnings of 21 cents per share for the quarter ended September 30, which, while higher than the 16 cents per share reported in the same quarter last year, fell short of the lone analyst forecast of 24 cents per share. The company's revenue rose 4% to €1.87 billion, slightly above the expected €1.86 billion. Grifols' net income for the quarter stood at €126.97 million.

Despite the negative market reaction, Grifols SA has seen a 26.7% gain year-to-date, although shares have fallen 5.3% this quarter. Analysts maintain an overall "buy" rating on the stock, with a median 12-month price target of $14.07, representing a potential 33% upside from its last closing price of $9.43. The current average analyst rating breakdown shows 4 "strong buy" or "buy" recommendations, 3 "hold" ratings, and 1 "sell" or "strong sell" rating.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment