Perrigo Company PLC (PRGO) Expected to Announce Earnings of $0.96 Per Share

Equities analysts predict that Perrigo Company PLC (NYSE:PRGO) will post $0.96 earnings per share for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Perrigo’s earnings, with the highest EPS estimate coming in at $1.17 and the lowest estimate coming in at $0.60. Perrigo posted earnings per share of $1.26 in the same quarter last year, which suggests a negative year over year growth rate of 23.8%. The company is scheduled to issue its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Perrigo will report full-year earnings of $4.22 per share for the current fiscal year, with EPS estimates ranging from $3.93 to $4.60. For the next year, analysts expect that the company will post earnings of $4.59 per share, with EPS estimates ranging from $4.30 to $5.04. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Perrigo.

Perrigo (NYSE:PRGO) last posted its earnings results on Wednesday, February 27th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.03). The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Perrigo had a return on equity of 10.74% and a net margin of 2.77%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS.

A number of research firms have recently issued reports on PRGO. Morgan Stanley cut their target price on shares of Perrigo from $67.00 to $54.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 26th. ValuEngine upgraded shares of Perrigo from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. SunTrust Banks initiated coverage on shares of Perrigo in a research note on Tuesday, March 19th. They issued a “hold” rating and a $51.00 price objective for the company. Royal Bank of Canada set a $48.00 price objective on shares of Perrigo and gave the stock a “hold” rating in a research note on Thursday, February 28th. Finally, Wells Fargo & Co set a $46.00 price objective on shares of Perrigo and gave the stock a “hold” rating in a research note on Sunday, December 30th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $74.67.

Shares of NYSE PRGO traded down $1.54 during mid-day trading on Tuesday, reaching $47.54. 1,183,210 shares of the company were exchanged, compared to its average volume of 1,405,193. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.32 and a current ratio of 1.89. The stock has a market cap of $6.54 billion, a PE ratio of 10.45, a P/E/G ratio of 2.35 and a beta of 1.31. Perrigo has a twelve month low of $36.28 and a twelve month high of $84.94.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, March 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.60%. The ex-dividend date was Thursday, February 28th. Perrigo’s dividend payout ratio is currently 16.70%.

A number of hedge funds have recently added to or reduced their stakes in PRGO. Deutsche Bank AG lifted its position in shares of Perrigo by 56.2% in the 4th quarter. Deutsche Bank AG now owns 277,750 shares of the company’s stock worth $10,758,000 after purchasing an additional 99,928 shares during the period. Geode Capital Management LLC lifted its position in shares of Perrigo by 12.4% in the 4th quarter. Geode Capital Management LLC now owns 1,687,709 shares of the company’s stock worth $65,286,000 after purchasing an additional 186,095 shares during the period. Norges Bank acquired a new position in shares of Perrigo in the 4th quarter worth approximately $44,386,000. Kentucky Retirement Systems acquired a new position in shares of Perrigo in the 4th quarter worth approximately $211,000. Finally, Macquarie Group Ltd. lifted its position in shares of Perrigo by 58.8% in the 4th quarter. Macquarie Group Ltd. now owns 372,200 shares of the company’s stock worth $14,423,000 after purchasing an additional 137,800 shares during the period. 85.29% of the stock is currently owned by hedge funds and other institutional investors.

About Perrigo

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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Earnings History and Estimates for Perrigo (NYSE:PRGO)

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