Analysts expect disappointing news from Vertex Pharmaceuticals Incorporated (VRTX) when it reports its first quarter earnings on Tuesday, April 30, 2013. They project a loss of 16 cents a share after the company booked a profit of 41 cents a year ago.
The consensus estimate has narrowed from a loss of 17 cents over the past month. The consensus estimate has narrowed from a loss of 19 cents over the past three months. For the fiscal year, analysts are projecting a loss of 97 cents per share. After being $438.7 million a year ago, analysts project revenue to drop 29.9% year-over-year to $307.7 million for the quarter. For the year, revenue is projected to come in at $1.16 billion.
The company's revenue declined in each of the last two quarters. In fourth quarter of the last fiscal year, revenue declined 40.7% to $334 million from the year earlier quarter. In the third quarter of the last fiscal year, the figure fell 49%.
The majority of analysts (75%) rate Vertex Pharmaceuticals as a buy. This compares favorably to the analyst ratings of its nearest 10 competitors, which average 56.1% buys. Analysts have become more cautious about the stock in the last three months.
Earnings estimates provided by Zacks.
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