Brokerages forecast that Perrigo Company PLC (NYSE:PRGO) will post earnings of $1.23 per share for the current fiscal quarter, Zacks reports. Fifteen analysts have issued estimates for Perrigo’s earnings, with estimates ranging from $1.15 to $1.32. Perrigo reported earnings of $1.22 per share during the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The business is expected to report its next quarterly earnings report on Thursday, August 9th.
According to Zacks, analysts expect that Perrigo will report full year earnings of $5.26 per share for the current fiscal year, with EPS estimates ranging from $4.98 to $5.40. For the next fiscal year, analysts forecast that the firm will post earnings of $5.65 per share, with EPS estimates ranging from $5.46 to $5.96. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Perrigo.
Perrigo (NYSE:PRGO) last posted its earnings results on Tuesday, May 8th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. Perrigo had a return on equity of 11.93% and a net margin of 2.59%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS.
A number of research analysts recently weighed in on the company. Canaccord Genuity set a $105.00 target price on Perrigo and gave the stock a “buy” rating in a report on Monday, May 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Perrigo in a report on Friday, June 22nd. Morgan Stanley reissued an “equal weight” rating and set a $85.00 target price on shares of Perrigo in a report on Monday, June 18th. Oppenheimer set a $98.00 target price on Perrigo and gave the stock a “buy” rating in a report on Friday, May 11th. Finally, ValuEngine lowered Perrigo from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Perrigo has a consensus rating of “Hold” and an average target price of $93.69.
In related news, Director Jeffrey C. Smith bought 50,000 shares of the business’s stock in a transaction dated Thursday, May 17th. The stock was purchased at an average cost of $75.89 per share, for a total transaction of $3,794,500.00. Following the transaction, the director now owns 528 shares in the company, valued at approximately $40,069.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey C. Smith bought 250,000 shares of the business’s stock in a transaction dated Tuesday, May 15th. The shares were bought at an average price of $75.21 per share, with a total value of $18,802,500.00. Following the completion of the transaction, the director now owns 528 shares in the company, valued at approximately $39,710.88. The disclosure for this purchase can be found here. Corporate insiders own 6.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its position in shares of Perrigo by 0.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 194,657 shares of the company’s stock valued at $16,222,000 after acquiring an additional 692 shares during the period. Sentry Investment Management LLC lifted its position in shares of Perrigo by 9.0% during the 1st quarter. Sentry Investment Management LLC now owns 9,140 shares of the company’s stock valued at $762,000 after acquiring an additional 751 shares during the period. Bluefin Trading LLC lifted its position in shares of Perrigo by 5.1% during the 1st quarter. Bluefin Trading LLC now owns 18,602 shares of the company’s stock valued at $1,550,000 after acquiring an additional 900 shares during the period. Cooke & Bieler LP lifted its position in shares of Perrigo by 1.2% during the 1st quarter. Cooke & Bieler LP now owns 85,123 shares of the company’s stock worth $7,094,000 after buying an additional 1,000 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Perrigo by 4.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 24,336 shares of the company’s stock worth $2,028,000 after buying an additional 1,076 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Perrigo opened at $75.23 on Tuesday, Marketbeat Ratings reports. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 0.53. The company has a market cap of $10.24 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 1.73 and a beta of 0.79. Perrigo has a 1-year low of $63.68 and a 1-year high of $95.93.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 19th. Shareholders of record on Friday, June 1st were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, May 31st. Perrigo’s dividend payout ratio is 15.42%.
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 worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.
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