Brokerages Anticipate Premier Inc (PINC) Will Post Earnings of $0.66 Per Share

Brokerages expect Premier Inc (NASDAQ:PINC) to report $0.66 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for Premier’s earnings, with the highest EPS estimate coming in at $0.68 and the lowest estimate coming in at $0.63. Premier reported earnings of $0.52 per share during the same quarter last year, which indicates a positive year over year growth rate of 26.9%. The business is scheduled to report its next quarterly earnings report on Monday, May 14th.

According to Zacks, analysts expect that Premier will report full-year earnings of $2.26 per share for the current fiscal year, with EPS estimates ranging from $2.06 to $2.30. For the next fiscal year, analysts forecast that the business will report earnings of $2.62 per share, with EPS estimates ranging from $2.17 to $2.72. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Premier.

Premier (NASDAQ:PINC) last announced its earnings results on Monday, February 5th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Premier had a negative return on equity of 19.94% and a net margin of 14.14%. The company had revenue of $411.40 million for the quarter, compared to the consensus estimate of $393.35 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue was up 14.8% on a year-over-year basis.

Several brokerages have weighed in on PINC. Zacks Investment Research upgraded Premier from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Wednesday, January 10th. Citigroup began coverage on Premier in a research note on Thursday, January 4th. They issued a “neutral” rating on the stock. Evercore ISI began coverage on Premier in a research note on Thursday, January 18th. They issued an “in-line” rating and a $33.50 target price on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $30.00 target price on shares of Premier in a research note on Tuesday, December 19th. Finally, SunTrust Banks lowered their target price on Premier to $36.00 and set a “buy” rating on the stock in a research note on Friday, November 17th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $36.86.

Shares of Premier (NASDAQ PINC) traded up $0.32 during mid-day trading on Friday, hitting $31.60. The company’s stock had a trading volume of 1,085,424 shares, compared to its average volume of 763,540. Premier has a one year low of $27.16 and a one year high of $36.50. The stock has a market cap of $4,365.19, a P/E ratio of -9.69, a P/E/G ratio of 1.25 and a beta of 0.50. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of -0.01.

In related news, Director Stephen R. D’arcy sold 3,967 shares of Premier stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $31.72, for a total value of $125,833.24. Following the sale, the director now directly owns 11,233 shares in the company, valued at $356,310.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 17.52% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PINC. State of Alaska Department of Revenue purchased a new stake in shares of Premier in the fourth quarter valued at approximately $124,000. The Manufacturers Life Insurance Company boosted its stake in shares of Premier by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 4,373 shares of the company’s stock valued at $157,000 after buying an additional 315 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Premier by 30.9% in the second quarter. PNC Financial Services Group Inc. now owns 4,796 shares of the company’s stock valued at $173,000 after buying an additional 1,132 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Premier in the fourth quarter valued at approximately $243,000. Finally, Suntrust Banks Inc. acquired a new position in Premier during the second quarter worth $276,000. Hedge funds and other institutional investors own 39.52% of the company’s stock.

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Premier Company Profile

Premier, Inc is a healthcare improvement company. The Company is uniting an alliance of approximately 3,900 United States hospitals and health systems and approximately 150,000 other providers and organizations to transform healthcare. The Company operates healthcare group purchasing organizations and also provides integrated data and analytics, supply chain solutions, advisory services, performance improvement collaborative and other services.

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Earnings History and Estimates for Premier (NASDAQ:PINC)

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