Perrigo Company PLC (NYSE:PRGO) Expected to Announce Quarterly Sales of $1.18 Billion

Equities research analysts predict that Perrigo Company PLC (NYSE:PRGO) will post $1.18 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Perrigo’s earnings, with the lowest sales estimate coming in at $1.11 billion and the highest estimate coming in at $1.24 billion. Perrigo posted sales of $1.13 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Perrigo will report full year sales of $4.74 billion for the current year, with estimates ranging from $4.61 billion to $4.82 billion. For the next financial year, analysts anticipate that the company will report sales of $4.80 billion, with estimates ranging from $4.05 billion to $5.12 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Perrigo.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Perrigo had a net margin of 1.87% and a return on equity of 9.57%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned $1.22 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis.



Several analysts have recently issued reports on PRGO shares. Cantor Fitzgerald dropped their target price on shares of Perrigo from $107.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Wells Fargo & Co reiterated a “hold” rating on shares of Perrigo in a research report on Tuesday, July 2nd. ValuEngine upgraded shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, SunTrust Banks lifted their target price on shares of Perrigo to $51.00 and gave the company a “hold” rating in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $59.50.

In other Perrigo news, Director Theodore R. Samuels II purchased 4,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $46.97 per share, with a total value of $187,880.00. Following the completion of the purchase, the director now owns 8,236 shares in the company, valued at approximately $386,844.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.70% of the company’s stock.

Several large investors have recently bought and sold shares of PRGO. Price T Rowe Associates Inc. MD raised its stake in Perrigo by 4.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,911,635 shares of the company’s stock worth $900,572,000 after purchasing an additional 819,399 shares during the period. BlackRock Inc. raised its stake in Perrigo by 6.8% during the second quarter. BlackRock Inc. now owns 9,031,878 shares of the company’s stock worth $430,099,000 after purchasing an additional 571,800 shares during the period. Parnassus Investments CA raised its stake in Perrigo by 89.7% during the second quarter. Parnassus Investments CA now owns 3,700,000 shares of the company’s stock worth $176,194,000 after purchasing an additional 1,750,000 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management raised its stake in Perrigo by 2.6% during the second quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management now owns 2,214,899 shares of the company’s stock worth $105,473,000 after purchasing an additional 56,700 shares during the period. Finally, Geode Capital Management LLC raised its stake in Perrigo by 12.4% during the fourth quarter. Geode Capital Management LLC now owns 1,687,709 shares of the company’s stock worth $65,286,000 after purchasing an additional 186,095 shares during the period. 85.94% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE PRGO traded up $0.49 during trading on Tuesday, hitting $46.16. The company had a trading volume of 103,989 shares, compared to its average volume of 1,504,659. The stock has a fifty day simple moving average of $50.54 and a two-hundred day simple moving average of $48.49. Perrigo has a fifty-two week low of $36.28 and a fifty-two week high of $78.90. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 2.88 and a beta of 1.40. The company has a quick ratio of 1.14, a current ratio of 1.92 and a debt-to-equity ratio of 0.54.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, August 30th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, August 29th. Perrigo’s dividend payout ratio is currently 18.46%.

About Perrigo

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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