Zacks: Brokerages Expect Premier Inc (NASDAQ:PINC) to Post $0.65 EPS

Equities analysts expect Premier Inc (NASDAQ:PINC) to report earnings per share (EPS) of $0.65 for the current quarter, according to Zacks. Nine analysts have provided estimates for Premier’s earnings, with estimates ranging from $0.59 to $0.70. Premier also posted earnings of $0.65 per share during the same quarter last year. The business is expected to report its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Premier will report full-year earnings of $2.83 per share for the current financial year, with EPS estimates ranging from $2.78 to $2.92. For the next fiscal year, analysts expect that the business will report earnings of $3.04 per share, with EPS estimates ranging from $2.95 to $3.12. Zacks’ EPS calculations are an average based on a survey of research firms that follow Premier.

Premier (NASDAQ:PINC) last announced its earnings results on Tuesday, August 20th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Premier had a negative return on equity of 29.70% and a net margin of 17.30%. The firm had revenue of $316.20 million during the quarter, compared to the consensus estimate of $426.69 million. During the same period in the prior year, the company posted $0.70 EPS. The firm’s revenue was up 1.2% on a year-over-year basis.



Several research analysts have recently issued reports on the company. Credit Suisse Group reissued a “neutral” rating and issued a $42.00 target price (down previously from $43.00) on shares of Premier in a research report on Tuesday, August 13th. BidaskClub lowered Premier from a “hold” rating to a “sell” rating in a research report on Saturday, September 7th. Piper Jaffray Companies reissued a “hold” rating on shares of Premier in a research report on Thursday, August 22nd. Guggenheim began coverage on Premier in a research report on Tuesday, June 18th. They issued a “neutral” rating and a $41.00 target price for the company. Finally, Zacks Investment Research upgraded Premier from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Premier has a consensus rating of “Hold” and an average target price of $41.29.

In related news, SVP David Alfred Hargraves sold 2,015 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $35.05, for a total value of $70,625.75. Following the sale, the senior vice president now owns 22,106 shares in the company, valued at approximately $774,815.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William E. Mayer sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $37.45, for a total value of $149,800.00. Following the completion of the sale, the director now owns 13,763 shares in the company, valued at approximately $515,424.35. The disclosure for this sale can be found here. Insiders sold a total of 11,315 shares of company stock worth $416,586 in the last 90 days. 18.30% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its stake in shares of Premier by 20.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,166,309 shares of the company’s stock worth $123,834,000 after buying an additional 546,200 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Premier by 3.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,405,592 shares of the company’s stock valued at $94,251,000 after purchasing an additional 77,544 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Premier by 141.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,716,406 shares of the company’s stock valued at $67,129,000 after purchasing an additional 1,005,871 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Premier by 4.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,137,391 shares of the company’s stock valued at $44,483,000 after purchasing an additional 51,488 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Premier by 48.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 1,006,096 shares of the company’s stock valued at $39,348,000 after purchasing an additional 329,900 shares during the last quarter. Institutional investors own 49.45% of the company’s stock.

Shares of NASDAQ:PINC traded down $0.69 during trading on Thursday, hitting $33.94. The stock had a trading volume of 1,073,061 shares, compared to its average volume of 635,688. Premier has a 12 month low of $31.31 and a 12 month high of $47.22. The company has a market capitalization of $4.58 billion, a PE ratio of 14.95, a PEG ratio of 1.50 and a beta of 0.33. The firm’s fifty day moving average is $36.75 and its 200 day moving average is $36.60.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and document shredding services and software-as-a-service informatics products.

See Also: What is a Special Dividend?

Get a free copy of the Zacks research report on Premier (PINC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Premier (NASDAQ:PINC)

Receive News & Ratings for Premier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Premier and related companies with MarketBeat.com's FREE daily email newsletter.