Perrigo (PRGO) Posts Quarterly Earnings, Beats Estimates By $0.28 EPS
Perrigo (NASDAQ:PRGO) posted its quarterly earnings results on Thursday. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.28, American Banking and Market News reports. The company had revenue of $979.00 million for the quarter, compared to the consensus estimate of $996.68 million. During the same quarter last year, the company posted $1.36 earnings per share. Perrigo’s revenue was up 10.9% compared to the same quarter last year. Perrigo updated its FY14 guidance to $6.45-6.70 EPS.
Perrigo (NASDAQ:PRGO) opened at 153.28 on Thursday. Perrigo has a 52 week low of $106.26 and a 52 week high of $162.35. The stock has a 50-day moving average of $154.9 and a 200-day moving average of $139.0. The company has a market cap of $14.454 billion and a P/E ratio of 32.34.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, March 18th. Investors of record on Friday, February 28th will be given a dividend of 0.105 per share. This represents a $0.42 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Wednesday, February 26th.
A number of analysts have recently weighed in on PRGO shares. Analysts at Argus raised their price target on shares of Perrigo from $160.00 to $175.00 in a research note to investors on Thursday, January 16th. They now have a “buy” rating on the stock. On the ratings front, analysts at Bank of America Corp. upgraded shares of Perrigo from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, January 7th. They now have a $171.00 price target on the stock, up previously from $162.00. Finally, analysts at RBC Capital initiated coverage on shares of Perrigo in a research note to investors on Monday, January 6th. They set a “top pick” rating and a $187.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Perrigo presently has an average rating of “Buy” and a consensus target price of $151.98.
Perrigo Company is a global healthcare supplier that develops, manufactures and distributes over-the-counter (NASDAQ:PRGO) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products and active pharmaceutical ingredients (API).
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