Zacks: Analysts Expect Perrigo Company PLC (PRGO) to Post $0.95 Earnings Per Share

Wall Street analysts expect that Perrigo Company PLC (NYSE:PRGO) will announce earnings of $0.95 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Perrigo’s earnings. The highest EPS estimate is $1.06 and the lowest is $0.85. Perrigo reported earnings of $1.22 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 22.1%. The company is scheduled to issue its next earnings results on Thursday, August 8th.

On average, analysts expect that Perrigo will report full year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $3.65 to $4.40. For the next financial year, analysts expect that the firm will report earnings of $4.36 per share, with EPS estimates ranging from $4.01 to $4.77. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Perrigo.

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



Several brokerages have recently issued reports on PRGO. Cantor Fitzgerald reissued a “buy” rating and set a $107.00 price objective on shares of Perrigo in a research note on Wednesday, May 8th. SunTrust Banks lowered their price objective on shares of Perrigo to $46.00 and set a “hold” rating for the company in a research note on Thursday, April 4th. ValuEngine cut shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Morgan Stanley decreased 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. Finally, Royal Bank of Canada set a $48.00 price target on shares of Perrigo and gave the stock a “hold” rating in a research report on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.64.

Shares of NYSE PRGO traded up $0.24 during trading on Friday, hitting $49.79. 56,866 shares of the company traded hands, compared to its average volume of 1,394,681. Perrigo has a 1 year low of $36.28 and a 1 year high of $80.66. The stock has a market capitalization of $6.77 billion, a PE ratio of 10.98, a P/E/G ratio of 2.64 and a beta of 1.29. The company has a quick ratio of 1.14, a current ratio of 1.64 and a debt-to-equity ratio of 0.48.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Friday, May 31st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. This is a boost from Perrigo’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, May 30th. Perrigo’s dividend payout ratio is 16.70%.

A number of institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund grew its position in shares of Perrigo by 3,574.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock worth $37,000 after buying an additional 1,391,870 shares during the period. Norges Bank acquired a new position in Perrigo during the fourth quarter valued at approximately $44,386,000. Dimensional Fund Advisors LP grew its holdings in Perrigo by 66.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,433,529 shares of the company’s stock valued at $117,191,000 after purchasing an additional 975,468 shares during the period. Parnassus Investments CA grew its holdings in Perrigo by 77.3% during the first quarter. Parnassus Investments CA now owns 1,950,000 shares of the company’s stock valued at $93,912,000 after purchasing an additional 850,000 shares during the period. Finally, First Trust Advisors LP grew its holdings in Perrigo by 165.7% during the first quarter. First Trust Advisors LP now owns 704,468 shares of the company’s stock valued at $33,927,000 after purchasing an additional 439,379 shares during the period. 86.00% 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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