Equities analysts predict that Perrigo Company PLC (NYSE:PRGO) will post earnings of $0.98 per share for the current quarter, according to Zacks. Four analysts have made estimates for Perrigo’s earnings. The highest EPS estimate is $1.04 and the lowest is $0.90. Perrigo reported earnings of $1.07 per share in the same quarter last year, which indicates a negative year over year growth rate of 8.4%. The business is expected to announce its next quarterly earnings report on Wednesday, May 13th.
On average, analysts expect that Perrigo will report full year earnings of $4.15 per share for the current financial year, with EPS estimates ranging from $4.00 to $4.45. For the next fiscal year, analysts anticipate that the business will post earnings of $4.44 per share, with EPS estimates ranging from $4.24 to $4.76. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Perrigo.
Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Perrigo had a return on equity of 9.56% and a net margin of 3.02%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business earned $0.97 EPS. The business’s revenue was up 10.7% compared to the same quarter last year.
A number of equities analysts have issued reports on PRGO shares. ValuEngine upgraded Perrigo from a “sell” rating to a “hold” rating in a report on Wednesday, March 11th. Royal Bank of Canada upgraded Perrigo from a “sector perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Wednesday, March 18th. Cantor Fitzgerald increased their price objective on Perrigo from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upgraded Perrigo from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a report on Tuesday. Finally, SVB Leerink upgraded Perrigo from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $54.00 to $52.00 in a report on Friday, March 20th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $57.00.
In related news, Director Theodore R. Samuels II purchased 2,000 shares of Perrigo stock in a transaction dated Friday, March 13th. The stock was purchased at an average cost of $42.50 per share, for a total transaction of $85,000.00. Following the completion of the acquisition, the director now directly owns 8,236 shares of the company’s stock, valued at $350,030. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 7.70% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in shares of Perrigo by 227.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 61,823 shares of the company’s stock valued at $3,194,000 after acquiring an additional 42,929 shares in the last quarter. Voya Investment Management LLC increased its holdings in Perrigo by 5.0% in the 3rd quarter. Voya Investment Management LLC now owns 60,744 shares of the company’s stock worth $3,395,000 after buying an additional 2,907 shares in the last quarter. AlphaCrest Capital Management LLC increased its holdings in Perrigo by 419.7% in the 4th quarter. AlphaCrest Capital Management LLC now owns 25,014 shares of the company’s stock worth $1,292,000 after buying an additional 20,201 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in Perrigo in the 4th quarter worth about $333,000. Finally, California Public Employees Retirement System increased its holdings in Perrigo by 2.7% in the 4th quarter. California Public Employees Retirement System now owns 292,597 shares of the company’s stock worth $15,116,000 after buying an additional 7,590 shares in the last quarter. Hedge funds and other institutional investors own 85.17% of the company’s stock.
PRGO traded down $0.46 during trading on Wednesday, reaching $44.75. The stock had a trading volume of 1,903,285 shares, compared to its average volume of 1,358,330. The stock’s 50 day moving average is $53.03 and its two-hundred day moving average is $53.31. The company has a current ratio of 2.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of -20.93 and a beta of 1.41. Perrigo has a one year low of $40.17 and a one year high of $63.86.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Friday, February 28th were issued a $0.225 dividend. This is an increase from Perrigo’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, February 27th. This represents a $0.90 dividend on an annualized basis and a yield of 2.01%. Perrigo’s dividend payout ratio is 22.33%.
Perrigo Company Profile
Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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