Perrigo Company (PRGO) Expected to Announce Earnings of $1.12 Per Share
Wall Street analysts expect Perrigo Company (NYSE:PRGO) to announce earnings per share (EPS) of $1.12 for the current quarter, according to Zacks Investment Research. Thirteen analysts have issued estimates for Perrigo’s earnings, with the lowest EPS estimate coming in at $1.02 and the highest estimate coming in at $1.18. Perrigo reported earnings per share of $1.65 during the same quarter last year, which suggests a negative year-over-year growth rate of 32.1%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, November 9th.
According to Zacks, analysts expect that Perrigo will report full-year earnings of $4.57 per share for the current fiscal year, with EPS estimates ranging from $4.41 to $4.67. For the next fiscal year, analysts forecast that the firm will report earnings of $5.15 per share, with EPS estimates ranging from $4.84 to $5.40. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Perrigo.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, August 10th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 EPS.
Several equities research analysts have commented on the stock. Royal Bank Of Canada set a $60.00 price target on shares of Perrigo and gave the stock a “sell” rating in a research report on Sunday, July 16th. Jefferies Group LLC reissued a “hold” rating and set a $71.00 price target (up from $69.00) on shares of Perrigo in a research report on Friday, August 11th. Wells Fargo & Company reissued a “market perform” rating and set a $77.00 price target on shares of Perrigo in a research report on Tuesday, August 15th. Oppenheimer Holdings, Inc. assumed coverage on shares of Perrigo in a research report on Thursday, September 7th. They set an “outperform” rating and a $88.00 price target on the stock. Finally, BidaskClub raised shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $88.50.
Shares of Perrigo (NYSE:PRGO) traded down $0.19 during midday trading on Friday, hitting $82.36. 1,060,866 shares of the stock were exchanged, compared to its average volume of 1,163,366. The stock has a market capitalization of $11.59 billion, a PE ratio of 15.75 and a beta of 0.69.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 19th. Investors of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.78%. Perrigo’s dividend payout ratio (DPR) is currently -3.51%.
In other Perrigo news, EVP Jeffrey Needham sold 3,595 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $89.49, for a total transaction of $321,716.55. Following the transaction, the executive vice president now owns 10,118 shares in the company, valued at approximately $905,459.82. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas Farrington sold 865 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $78.40, for a total transaction of $67,816.00. Following the transaction, the executive vice president now owns 2,870 shares in the company, valued at approximately $225,008. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,894 shares of company stock worth $581,320. 6.90% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Korea Investment CORP grew its position in shares of Perrigo by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after purchasing an additional 781 shares in the last quarter. Commonwealth Bank of Australia grew its position in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after purchasing an additional 176 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Perrigo by 1,046.2% during the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after purchasing an additional 2,040 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Perrigo by 2.5% during the 1st quarter. Bank of Nova Scotia now owns 3,219 shares of the company’s stock worth $214,000 after purchasing an additional 80 shares in the last quarter. Finally, Conning Inc. acquired a new position in shares of Perrigo during the 3rd quarter worth approximately $219,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.
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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