Biogen Idec Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Biogen Idec, Inc. (NASDAQ:BIIB) will unveil its latest earnings on Friday, October 28, 2011. Biogen Idec is a global biotechnology company that meets the rising needs of therapeutic care providers and recipients.

Biogen Idec, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.51 per share, a rise of 13.5% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.48. Between one and three months ago, the average estimate moved up. It has been unchanged at $1.51 during the last month. Analysts are projecting profit to rise by 16.3% versus last year to $5.85.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the second quarter, the company reported profit of $1.35 per share versus a mean estimate of net income of $1.39 per share. In the first quarter, the company beat estimates by 3 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.27 billion in revenue this quarter, a rise of 7.6% from the year ago quarter. Analysts are forecasting total revenue of $4.96 billion for the year, a rise of 5.1% from last year’s revenue of $4.72 billion.

Analyst Ratings: 13 out of 20 analysts surveyed (65%) have a buy rating on Biogen Idec.. This is below the mean analyst rating of 10 competitors, which average 72.7% buy ratings. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.

A Look Back: In the second quarter, profit fell 1.8% to $288 million ($1.18 a share) from $293.4 million ($1.12 a share) the year earlier, missing analyst expectations. Revenue fell 0.3% to $1.21 billion from $1.21 billion.

Key Stats:

A year-over-year revenue decrease in the second quarter snapped a streak of three consecutive quarters of revenue increases. Revenue rose 8.5%in the first quarter, 8.2% in the fourth quarter of the last fiscal year and 4.9% in the third quarter of the last fiscal year.

The decrease in profit in the second quarter came after net income rose in the previous quarter. In the first quarter, net income rose 35.4%.

Competitors to Watch: Elan Corp., plc (NYSE:ELN), Amgen, Inc. (NASDAQ:AMGN), Roche Holding Ltd. (RHHBY), Teva Pharmaceutical Industries Ltd (NASDAQ:TEVA), Abbott Laboratories (NYSE:ABT), Merck & Co., Inc. (NYSE:MRK), Genzyme Corporation (NASDAQ:GENZ), Pfizer Inc. (NYSE:PFE), GlaxoSmithKline plc (NYSE:GSK), and Bristol Myers Squibb Co. (NYSE:BMY).

Stock Price Performance: During August 26, 2011 to October 24, 2011, the stock price had risen $17.23 (18.7%) from $92.29 to $109.52. The stock price saw one of its best stretches over the last year between June 16, 2011 and June 29, 2011 when shares rose for 10-straight days, rising 16.5% (+$15.45) over that span. It saw one of its worst periods between May 20, 2011 and May 27, 2011 when shares fell for six-straight days, falling 4% (-$3.90) over that span. Shares are up $42.47 (+63.3%) year to date.

(Source: Xignite Financials)

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