Analysts Anticipate Perrigo Company plc (NYSE:PRGO) to Post $0.67 EPS

Brokerages predict that Perrigo Company plc (NYSE:PRGO) will report earnings of $0.67 per share for the current quarter, according to Zacks. Three analysts have made estimates for Perrigo’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.66. Perrigo posted earnings of $0.93 per share during the same quarter last year, which would suggest a negative year over year growth rate of 28%. The firm is expected to announce its next earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Perrigo will report full-year earnings of $2.48 per share for the current fiscal year, with EPS estimates ranging from $2.41 to $2.52. For the next fiscal year, analysts expect that the business will report earnings of $2.95 per share, with EPS estimates ranging from $2.69 to $3.08. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Perrigo.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, August 11th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.11). The firm had revenue of $981.10 million during the quarter, compared to the consensus estimate of $1.02 billion. Perrigo had a positive return on equity of 6.89% and a negative net margin of 7.77%. During the same quarter in the previous year, the company earned $1.03 earnings per share.

Several equities analysts have recently commented on the company. Royal Bank of Canada lowered their price objective on Perrigo from $51.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 12th. Jefferies Financial Group upgraded Perrigo from a “hold” rating to a “buy” rating and upped their price target for the stock from $45.00 to $63.00 in a research note on Thursday, September 30th.

A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Perrigo by 26.6% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 130,128 shares of the company’s stock worth $6,267,000 after buying an additional 27,379 shares during the last quarter. Russell Investments Group Ltd. raised its position in Perrigo by 87.3% during the first quarter. Russell Investments Group Ltd. now owns 184,316 shares of the company’s stock valued at $7,470,000 after purchasing an additional 85,887 shares during the period. Brinker Capital Investments LLC purchased a new position in shares of Perrigo in the 1st quarter worth approximately $2,452,000. Sei Investments Co. lifted its position in Perrigo by 8.8% in the first quarter. Sei Investments Co. now owns 202,576 shares of the company’s stock worth $8,226,000 after buying an additional 16,319 shares during the last quarter. Finally, E Fund Management Co. Ltd. bought a new stake in shares of Perrigo in the 1st quarter worth about $104,000. 86.26% of the stock is currently owned by institutional investors.

Shares of Perrigo stock opened at $44.86 on Monday. Perrigo has a fifty-two week low of $38.20 and a fifty-two week high of $50.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.67 and a current ratio of 2.23. The company has a market capitalization of $6.00 billion, a P/E ratio of -17.46 and a beta of 1.17. The company has a fifty day moving average of $43.74 and a 200 day moving average of $44.48.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 21st. Shareholders of record on Friday, September 3rd were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.14%. The ex-dividend date was Thursday, September 2nd. Perrigo’s dividend payout ratio is presently 23.88%.

About Perrigo

Perrigo Co Plc provides self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. The company was founded by Luther Perrigo in 1887 and is headquartered in Dublin, Ireland.

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