Perrigo (PRGO) Set to Release Quarterly Earnings on Tuesday

Perrigo (NYSE:PRGO) will be posting its quarterly earnings results 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.Individual that are interested in registering for the company’s earnings 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 (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. Perrigo’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business 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 Price Performance

Shares of NYSE PRGO opened at $32.79 on Friday. The company’s fifty day moving average is $30.60 and its two-hundred day moving average is $30.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.07 and a current ratio of 1.79. The firm has a market capitalization of $4.44 billion, a P/E ratio of -327.90 and a beta of 0.63. Perrigo has a one year low of $25.77 and a one year high of $40.28.

Perrigo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be given a dividend of $0.276 per share. The ex-dividend date is Friday, May 31st. This represents a $1.10 annualized dividend and a yield of 3.37%. Perrigo’s payout ratio is currently -1,100.00%.

Insider Transactions at Perrigo

In related news, EVP Alison Ives acquired 2,490 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now directly owns 16,122 shares in the company, valued at $439,485.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Alison Ives acquired 2,490 shares of Perrigo stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average price of $27.26 per share, with a total value of $67,877.40. Following the completion of the purchase, the executive vice president now owns 16,122 shares of the company’s stock, valued at approximately $439,485.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick Lockwood-Taylor bought 9,500 shares of the stock in a transaction on 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 directly owns 20,500 shares in the company, valued at approximately $544,070. The disclosure for this purchase can be found here. Insiders purchased a total of 17,990 shares of company stock valued at $475,227 over the last three months. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price target on shares of Perrigo in a research note on Friday, April 12th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. cut their price target on Perrigo from $48.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. Finally, Piper Sandler lifted their target price on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th.

Perrigo Company Profile

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.