Perrigo Company PLC (NYSE:PRGO) Expected to Announce Earnings of $0.98 Per Share

Equities analysts expect Perrigo Company PLC (NYSE:PRGO) to report earnings of $0.98 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided 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 during the same quarter last year, which indicates a negative year over year growth rate of 8.4%. The firm is scheduled to report its next quarterly earnings results on Wednesday, May 13th.

According to Zacks, analysts expect that Perrigo will report full-year earnings of $4.15 per share for the current fiscal year, with EPS estimates ranging from $4.00 to $4.45. For the next year, analysts expect that the firm will post earnings of $4.44 per share, with EPS estimates ranging from $4.24 to $4.76. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Perrigo.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate 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 prior year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

A number of research analysts recently commented on PRGO shares. Wells Fargo & Co lowered their price target on Perrigo from $63.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 11th. Cantor Fitzgerald boosted their price target on Perrigo from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada raised Perrigo from a “sector perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Wednesday, March 18th. SVB Leerink raised Perrigo from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $54.00 to $52.00 in a report on Friday, March 20th. Finally, JPMorgan Chase & Co. raised Perrigo from a “neutral” rating to an “overweight” rating and set a $57.00 price target on the stock in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $57.00.

NYSE PRGO traded down $0.46 during trading hours on Wednesday, reaching $44.75. The company’s stock had a trading volume of 1,903,285 shares, compared to its average volume of 1,358,330. The firm’s 50-day moving average price is $53.03 and its 200-day moving average price is $53.31. The company has a quick ratio of 1.34, a current ratio of 2.06 and a debt-to-equity ratio of 0.58. Perrigo has a 1 year low of $40.17 and a 1 year high of $63.86. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 41.82, a PEG ratio of -20.93 and a beta of 1.41.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Friday, February 28th were paid a $0.225 dividend. This is an increase from Perrigo’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.90 dividend on an annualized basis and a yield of 2.01%. Perrigo’s payout ratio is presently 22.33%.

In other news, Director Theodore R. Samuels II acquired 2,000 shares of Perrigo stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $42.50 per share, with a total value of $85,000.00. Following the purchase, the director now directly owns 8,236 shares in the company, valued at approximately $350,030. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 7.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in Perrigo by 13.5% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,685 shares of the company’s stock worth $87,000 after acquiring an additional 200 shares during the last quarter. Vestcor Investment Management Corp bought a new stake in Perrigo in the 4th quarter worth approximately $122,000. Tower Research Capital LLC TRC increased its position in shares of Perrigo by 7.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,167 shares of the company’s stock valued at $163,000 after purchasing an additional 207 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Perrigo during the 4th quarter valued at approximately $167,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Perrigo during the 4th quarter valued at approximately $200,000. 85.17% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Fundamental Analysis – How It Helps Investors

Get a free copy of the Zacks research report on Perrigo (PRGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Perrigo (NYSE:PRGO)

Receive News & Ratings for Perrigo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo and related companies with MarketBeat.com's FREE daily email newsletter.