Perrigo Company PLC (NYSE:PRGO) to Post Q1 2019 Earnings of $0.91 Per Share, Svb Leerink Forecasts

Perrigo Company PLC (NYSE:PRGO) – Equities researchers at Svb Leerink cut their Q1 2019 earnings per share estimates for shares of Perrigo in a report issued on Thursday, April 18th, according to Zacks Investment Research. Svb Leerink analyst A. Fadia now expects that the company will earn $0.91 per share for the quarter, down from their prior estimate of $1.02. Svb Leerink also issued estimates for Perrigo’s Q2 2019 earnings at $0.98 EPS, Q3 2019 earnings at $1.09 EPS, Q4 2019 earnings at $1.17 EPS, FY2019 earnings at $4.15 EPS and FY2020 earnings at $4.45 EPS.

Perrigo (NYSE:PRGO) last issued its earnings results on Wednesday, May 8th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.13. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Perrigo had a net margin of 2.43% and a return on equity of 10.40%. During the same quarter in the previous year, the firm posted $1.26 earnings per share.

A number of other brokerages have also recently weighed in on PRGO. ValuEngine cut shares of Perrigo from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. Cantor Fitzgerald reissued a “buy” rating and issued a $107.00 price target on shares of Perrigo in a research report on Wednesday. Morgan Stanley reduced their price target on shares of Perrigo from $67.00 to $54.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 26th. Wells Fargo & Co set a $47.00 price target on shares of Perrigo and gave the company a “hold” rating in a research report on Thursday, February 28th. Finally, SunTrust Banks reduced their price target on shares of Perrigo to $46.00 and set a “hold” rating for the company in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $74.33.

Shares of PRGO stock traded down $0.62 on Friday, reaching $52.00. 1,764,134 shares of the stock were exchanged, compared to its average volume of 1,313,208. The company has a current ratio of 1.64, a quick ratio of 1.32 and a debt-to-equity ratio of 0.48. The company has a market cap of $7.15 billion, a P/E ratio of 11.43, a PEG ratio of 2.75 and a beta of 1.29. Perrigo has a twelve month low of $36.28 and a twelve month high of $80.66.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, May 31st will be issued a dividend of $0.21 per share. This is a boost from Perrigo’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 30th. Perrigo’s dividend payout ratio is currently 16.70%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Man Group plc raised its holdings in Perrigo by 754.0% during the third quarter. Man Group plc now owns 113,206 shares of the company’s stock worth $8,015,000 after purchasing an additional 99,950 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Perrigo by 8.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 30,641 shares of the company’s stock worth $1,187,000 after purchasing an additional 2,400 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in Perrigo during the fourth quarter worth about $26,000. Nippon Life Global Investors Americas Inc. raised its holdings in Perrigo by 49.5% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 45,850 shares of the company’s stock worth $1,778,000 after purchasing an additional 15,190 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in Perrigo during the fourth quarter worth about $984,000. 85.37% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Perrigo (NYSE:PRGO)

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