Wall Street brokerages expect that Perrigo Company (NYSE:PRGO) will report $1.24 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Perrigo’s earnings. The lowest sales estimate is $1.21 billion and the highest is $1.28 billion. Perrigo reported sales of $1.33 billion during the same quarter last year, which indicates a negative year over year growth rate of 6.8%. The business is expected to announce its next earnings report on Monday, May 28th.
On average, analysts expect that Perrigo will report full year sales of $1.24 billion for the current fiscal year, with estimates ranging from $4.84 billion to $4.92 billion. For the next financial year, analysts forecast that the business will report sales of $5.00 billion per share, with estimates ranging from $4.88 billion to $5.10 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Perrigo.
Perrigo (NYSE:PRGO) last announced its earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis.
Several analysts recently commented on PRGO shares. Royal Bank of Canada upgraded Perrigo from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $64.00 to $86.00 in a report on Friday, November 10th. UBS Group reiterated a “buy” rating and issued a $98.00 target price (up from $84.00) on shares of Perrigo in a report on Thursday, October 5th. Jefferies Group set a $71.00 target price on Perrigo and gave the company a “hold” rating in a report on Sunday, October 29th. Cantor Fitzgerald set a $107.00 target price on Perrigo and gave the company a “buy” rating in a report on Saturday, December 16th. Finally, CIBC started coverage on Perrigo in a report on Thursday, September 7th. They issued an “outperform” rating and a $88.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $92.13.
In other Perrigo news, EVP John Wesolowski sold 388 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $87.20, for a total value of $33,833.60. Following the transaction, the executive vice president now directly owns 248 shares of the company’s stock, valued at $21,625.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd W. Kingma sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the completion of the transaction, the vice president now directly owns 19,565 shares in the company, valued at $1,731,893.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,551 shares of company stock worth $222,590. Insiders own 6.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. BB&T Securities LLC raised its position in shares of Perrigo by 0.4% during the second quarter. BB&T Securities LLC now owns 9,062 shares of the company’s stock worth $684,000 after purchasing an additional 35 shares during the period. State of Tennessee Treasury Department raised its position in shares of Perrigo by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 39,214 shares of the company’s stock worth $2,961,000 after purchasing an additional 103 shares during the period. Sentry Investment Management LLC raised its position in shares of Perrigo by 1.1% during the second quarter. Sentry Investment Management LLC now owns 11,028 shares of the company’s stock worth $833,000 after purchasing an additional 117 shares during the period. Commonwealth Bank of Australia raised its position in shares of Perrigo by 13.8% during the second 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 period. Finally, Nationwide Fund Advisors raised its position in shares of Perrigo by 0.4% during the second quarter. Nationwide Fund Advisors now owns 55,199 shares of the company’s stock worth $4,169,000 after purchasing an additional 200 shares during the period. 83.29% of the stock is currently owned by institutional investors.
Shares of Perrigo (NYSE PRGO) traded down $0.11 during mid-day trading on Friday, reaching $87.16. The company had a trading volume of 442,315 shares, compared to its average volume of 1,047,461. Perrigo has a 1-year low of $63.68 and a 1-year high of $91.73. The company has a market capitalization of $12,291.17, a PE ratio of -9.52, a PEG ratio of 1.86 and a beta of 0.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.72 and a quick ratio of 1.24.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, November 30th. Perrigo’s dividend payout ratio (DPR) is presently -6.99%.
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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