Perrigo Company PLC Given “Neutral” Rating at Zacks (PRGO)
Perrigo Company PLC (NASDAQ:PRGO)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday. They currently have a $148.00 price objective on the stock. Zacks‘s price target would indicate a potential upside of 3.73% from the company’s current price.
Zacks’ analyst wrote, “Perrigo performed disappointingly in the third quarter of fiscal 2014, missing both on sales and earnings. Results were hurt by the tough retail environment and a weak cough/cold and flu season. Weakness in the consumer healthcare segment is a cause of concern as the segment is the major contributor to Perrigo’s top line. The company’s earnings of $1.31 per share were well short of the Zacks Consensus Estimate of $1.53. Lower-than-expected revenues led to the earnings miss. Moreover, the reported earnings were 8% below the year-ago figure. Perrigo lowered its earnings per share (on an adjusted basis) guidance for fiscal 2014 to the range of $6.15-$6.30 (previous guidance: $6.45-$6.70). We maintain our Neutral view on the stock. “
Perrigo Company PLC (NASDAQ:PRGO) traded up 1.07% during mid-day trading on Thursday, hitting $142.68. The stock had a trading volume of 1,671,593 shares. Perrigo Company PLC has a 1-year low of $115.43 and a 1-year high of $168.39. The stock’s 50-day moving average is $138.5 and its 200-day moving average is $150.8. The company has a market cap of $19.090 billion and a price-to-earnings ratio of 77.48.
Perrigo Company PLC (NASDAQ:PRGO) last released its earnings data on Wednesday, May 7th. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by $0.20. The company had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts expect that Perrigo Company PLC will post $6.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 17th. Investors of record on Friday, May 30th will be paid a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Wednesday, May 28th.
A number of other firms have also recently commented on PRGO. Analysts at Argus cut their price target on shares of Perrigo Company PLC from $175.00 to $160.00 in a research note on Thursday, May 15th. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Perrigo Company PLC in a research note on Thursday, May 15th. They now have a $180.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. cut their price target on shares of Perrigo Company PLC from $190.00 to $175.00 in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $159.82.
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (NASDAQ:PRGO) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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