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.
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