Inside Biogen IDEC Inc’s Upcoming Second Quarter Earnings Release

S&P 500 (NYSE:SPY) component Biogen IDEC Inc (NASDAQ:BIIB) will unveil its latest earnings on Tuesday, July 26, 2011. Biogen Idec Inc. 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 profit of $1.37 per share, a rise of 7.9% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from $1.46. Between one and three months ago, the average estimate moved down and dropped from $1.43 during the last month. For the year, analysts are projecting net income of $5.83 per share, a rise of 15.9% from last year.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 3 cents, reporting profit of $1.42 per share against a mean estimate of net income of $1.39 per share.

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Wall St. Revenue Expectations: On average, analysts predict $1.19 billion in revenue this quarter, a decline of 1.7% from the year ago quarter. Analysts are forecasting total revenue of $4.82 billion for the year, a rise of 2.1% from last year’s revenue of $4.72 billion.

Analyst Ratings: Analysts are bullish on Biogen IDEC as nine analysts rate it as a buy, one rates it as a sell and 10 rate it as a hold.

Key Stats:

Revenue has risen the past four quarters. Revenue increased 8.5% to $1.2 billion in first quarter. The figure rose 8.2% in the fourth quarter of the last fiscal year from the year earlier, climbed 4.9% in the third quarter of the last fiscal year from the year-ago quarter and 10.9% in the second quarter of the last fiscal year.

The increase in profit in the first quarter breaks a streak of two consecutive quarters of year-over-year profit decreases. In the first quarter, net income rose 35.4%, while the figure dropped 21.4% in the fourth quarter of the last fiscal year and 8.5% in the third quarter of the last fiscal year.

Competitors to Watch: Elan Corp., plc (NYSE:ELN), Amgen, Inc. (NASDAQ:AMGN), 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 May 23, 2011 to July 20, 2011, the stock price had risen $9.06 (9.5%) from $95.31 to $104.37. 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 $37.32 (+55.7%) year to date.

(Source: Xignite Financials)

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