$1.11 Earnings Per Share Expected for Perrigo Company (PRGO) This Quarter
Brokerages forecast that Perrigo Company (NYSE:PRGO) will report $1.11 earnings per share for the current fiscal quarter, according to Zacks. Twelve analysts have provided estimates for Perrigo’s earnings, with estimates ranging from $1.02 to $1.18. Perrigo posted earnings per share of $1.65 in the same quarter last year, which would suggest a negative year over year growth rate of 32.7%. The business is expected to report its next earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Perrigo will report full-year earnings of $4.52 per share for the current year, with EPS estimates ranging from $4.30 to $4.64. For the next year, analysts expect that the company will report earnings of $5.09 per share, with EPS estimates ranging from $4.79 to $5.38. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Perrigo.
Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.28. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 EPS.
PRGO has been the topic of a number of analyst reports. Wells Fargo & Company reiterated a “market perform” rating and set a $77.00 price objective on shares of Perrigo in a research report on Tuesday, August 15th. Stifel Nicolaus reiterated a “hold” rating on shares of Perrigo in a research report on Friday, August 11th. Canaccord Genuity set a $80.00 price objective on Perrigo and gave the stock a “buy” rating in a research report on Wednesday, May 31st. Royal Bank Of Canada downgraded Perrigo from a “sector perform” rating to an “underperform” rating and reduced their price objective for the stock from $66.00 to $60.00 in a research report on Monday, June 5th. Finally, Cantor Fitzgerald set a $85.00 price objective on Perrigo and gave the stock a “buy” rating in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.00.
Shares of Perrigo (NYSE PRGO) traded up 4.93% on Thursday, hitting $82.19. The company had a trading volume of 3,830,512 shares. Perrigo has a 52 week low of $63.68 and a 52 week high of $99.14. The company’s market capitalization is $11.72 billion. The stock’s 50-day moving average is $75.43 and its 200 day moving average is $72.98.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.16 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 0.78%. Perrigo’s dividend payout ratio is currently -3.51%.
In other news, EVP Thomas Farrington sold 865 shares of Perrigo stock in a transaction on Friday, August 18th. The stock was sold at an average price of $78.40, for a total value of $67,816.00. Following the completion of the sale, the executive vice president now directly owns 2,870 shares of the company’s stock, valued at $225,008. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sharon Kochan sold 1,500 shares of Perrigo stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $79.03, for a total value of $118,545.00. Following the completion of the sale, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at $817,881.47. The disclosure for this sale can be found here. Insiders sold 2,981 shares of company stock worth $233,731 in the last 90 days. Company insiders own 6.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Korea Investment CORP grew its stake in shares of Perrigo by 142.0% in the second quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock valued at $101,000 after buying an additional 781 shares in the last quarter. Commonwealth Bank of Australia grew its stake in shares of Perrigo by 13.8% in the second quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock valued at $108,000 after buying an additional 176 shares in the last quarter. Johnson Financial Group Inc. grew its stake in shares of Perrigo by 15.6% in the first quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock valued at $118,000 after buying an additional 240 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Perrigo by 1,046.2% in the second quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock valued at $169,000 after buying an additional 2,040 shares in the last quarter. Finally, Global X Management Co. LLC grew its stake in shares of Perrigo by 56.4% in the first quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock valued at $157,000 after buying an additional 855 shares in the last quarter. 80.36% of the stock is owned by institutional investors and hedge funds.
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Perrigo Company Profile
Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) 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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