Zacks: Analysts Anticipate Perrigo Company (PRGO) Will Announce Quarterly Sales of $1.24 Billion

Equities analysts predict that Perrigo Company (NYSE:PRGO) will post sales of $1.24 billion for the current quarter, according to Zacks. Twelve analysts have made estimates for Perrigo’s earnings. The lowest sales estimate is $1.21 billion and the highest is $1.28 billion. Perrigo reported sales of $1.33 billion in the same quarter last year, which indicates a negative year over year growth rate of 6.8%. The company is scheduled to announce its next quarterly earnings report on Monday, May 28th.

On average, analysts expect that Perrigo will report full year sales of $1.24 billion for the current year, with estimates ranging from $4.84 billion to $4.92 billion. For the next financial year, analysts forecast that the business will post sales of $5.00 billion per share, with estimates ranging from $4.88 billion to $5.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Perrigo.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Thursday, November 9th. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.28. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 earnings per share.

A number of research analysts have recently weighed in on PRGO shares. BidaskClub lowered Perrigo from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the stock a “buy” rating in a report on Friday, October 20th. Deutsche Bank raised their target price on Perrigo from $88.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, September 14th. Canaccord Genuity reaffirmed a “buy” rating and set a $100.00 target price (up from $88.00) on shares of Perrigo in a report on Wednesday, September 13th. Finally, Jefferies Group set a $71.00 target price on Perrigo and gave the stock a “hold” rating in a report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Perrigo currently has an average rating of “Hold” and an average price target of $92.13.

Perrigo (NYSE:PRGO) opened at $85.59 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $12,060.00, a PE ratio of 17.47, a PEG ratio of 1.82 and a beta of 0.64. Perrigo has a 1-year low of $63.68 and a 1-year high of $91.73.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, November 30th. Perrigo’s payout ratio is currently -6.99%.

In other Perrigo news, EVP John Wesolowski sold 388 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total value of $33,833.60. Following the sale, the executive vice president now directly owns 248 shares of the company’s stock, valued at $21,625.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 1,051 shares of company stock worth $89,810. 6.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in shares of Perrigo by 5.7% in the second quarter. Russell Investments Group Ltd. now owns 13,686 shares of the company’s stock valued at $1,034,000 after acquiring an additional 736 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Perrigo by 2.4% in the second quarter. CIBC Asset Management Inc now owns 9,685 shares of the company’s stock valued at $731,000 after acquiring an additional 225 shares in the last quarter. Bessemer Group Inc. lifted its position 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 acquiring an additional 2,040 shares in the last quarter. Korea Investment CORP lifted its position 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 acquiring an additional 781 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Perrigo by 0.3% in the second quarter. Retirement Systems of Alabama now owns 69,515 shares of the company’s stock valued at $5,250,000 after acquiring an additional 210 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors.

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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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