Perrigo Company (PRGO) Expected to Post Earnings of $1.11 Per Share

Wall Street analysts forecast that Perrigo Company (NYSE:PRGO) will report earnings of $1.11 per share for the current quarter, according to Zacks. Twelve analysts have issued estimates for Perrigo’s earnings, with the highest EPS estimate coming in at $1.18 and the lowest estimate coming in at $1.02. Perrigo posted earnings of $1.65 per share in the same quarter last year, which would suggest a negative year over year growth rate of 32.7%. The firm is scheduled to issue its next earnings report on Thursday, November 9th.

According to Zacks, analysts expect that Perrigo will report full year earnings of $4.53 per share for the current year, with EPS estimates ranging from $4.30 to $4.64. For the next financial year, analysts expect that the firm will post earnings of $5.09 per share, with EPS estimates ranging from $4.79 to $5.38. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Perrigo.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 10th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a positive return on equity of 11.55% and a negative net margin of 51.04%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 EPS.

Several equities research analysts have recently commented on the company. Wells Fargo & Company reaffirmed a “market perform” rating and set a $77.00 target price on shares of Perrigo in a report on Tuesday, August 15th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Perrigo in a report on Friday, August 11th. Canaccord Genuity set a $80.00 target price on Perrigo and gave the company a “buy” rating in a report on Wednesday, May 31st. Royal Bank Of Canada downgraded Perrigo from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $66.00 to $60.00 in a report on Monday, June 5th. Finally, Cantor Fitzgerald set a $85.00 target price on Perrigo and gave the company a “buy” rating in a report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $87.00.

In other Perrigo news, EVP Sharon Kochan sold 1,500 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $79.03, for a total value of $118,545.00. Following the transaction, the executive vice president now directly owns 10,349 shares of the company’s stock, valued at approximately $817,881.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas Farrington sold 616 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $76.90, for a total value of $47,370.40. Following the completion of the transaction, the executive vice president now directly owns 2,724 shares in the company, valued at $209,475.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,981 shares of company stock worth $233,731. Insiders own 6.90% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Korea Investment CORP increased its position in Perrigo by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,331 shares of the company’s stock worth $101,000 after purchasing an additional 781 shares during the last quarter. Commonwealth Bank of Australia increased its position in Perrigo by 13.8% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after purchasing an additional 176 shares during the last quarter. Johnson Financial Group Inc. increased its position in Perrigo by 15.6% in the 1st quarter. Johnson Financial Group Inc. now owns 1,775 shares of the company’s stock worth $118,000 after purchasing an additional 240 shares during the last quarter. Global X Management Co. LLC increased its position in Perrigo by 56.4% in the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after purchasing an additional 855 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Perrigo by 1,046.2% in the 2nd quarter. Bessemer Group Inc. now owns 2,235 shares of the company’s stock worth $169,000 after purchasing an additional 2,040 shares during the last quarter. 80.36% of the stock is currently owned by institutional investors.

Shares of Perrigo (NYSE:PRGO) opened at 82.79 on Thursday. Perrigo has a 52-week low of $63.68 and a 52-week high of $99.14. The stock’s market cap is $11.81 billion. The company’s 50-day moving average price is $75.91 and its 200-day moving average price is $73.11.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, August 23rd. Perrigo’s payout ratio is currently -3.51%.

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Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.

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