Perrigo (PRGO) to Release Earnings on Tuesday

Perrigo (NYSE:PRGO) will release its earnings data before the market opens on Tuesday, May 7th. Analysts expect Perrigo to post earnings of $0.24 per share for the quarter. Perrigo has set its FY 2024 guidance at 2.500-2.650 EPS and its FY24 guidance at $2.50 to $2.65 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Perrigo (NYSE:PRGO) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, analysts expect Perrigo to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Perrigo Stock Down 0.1 %

PRGO traded down $0.03 on Tuesday, hitting $32.78. 133,144 shares of the company’s stock traded hands, compared to its average volume of 1,780,818. The company’s 50 day simple moving average is $30.54 and its 200-day simple moving average is $30.82. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76. Perrigo has a one year low of $25.77 and a one year high of $40.28.

Perrigo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were issued a dividend of $0.276 per share. This is a positive change from Perrigo’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 7th. Perrigo’s dividend payout ratio (DPR) is -1,100.00%.

Insider Buying and Selling

In other Perrigo news, CEO Patrick Lockwood-Taylor purchased 9,500 shares of Perrigo stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $26.54 per share, for a total transaction of $252,130.00. Following the completion of the acquisition, the chief executive officer now owns 20,500 shares in the company, valued at approximately $544,070. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Patrick Lockwood-Taylor bought 9,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $26.54 per share, with a total value of $252,130.00. Following the completion of the purchase, the chief executive officer now owns 20,500 shares of the company’s stock, valued at $544,070. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alison Ives acquired 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average price of $27.26 per share, with a total value of $67,877.40. Following the acquisition, the executive vice president now directly owns 16,122 shares in the company, valued at $439,485.72. The disclosure for this purchase can be found here. Insiders have bought 17,990 shares of company stock valued at $475,227 in the last ninety days. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler increased their price objective on shares of Perrigo from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Perrigo in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. decreased their target price on Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 28th.

About Perrigo

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.