Perrigo (PRGO) Set to Announce Earnings on Tuesday

Perrigo (NYSE:PRGO) is scheduled to be releasing its earnings data 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. Perrigo had a positive return on equity of 7.34% and a negative net margin of 0.27%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm posted $0.75 EPS. The business’s revenue was up .1% on a year-over-year basis. 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

NYSE PRGO opened at $32.79 on Friday. Perrigo has a 12-month low of $25.77 and a 12-month high of $40.28. The firm’s 50 day moving average is $30.60 and its 200-day moving average is $30.89. The company has a market capitalization of $4.44 billion, a PE ratio of -327.90 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.79 and a debt-to-equity ratio of 0.76.

Perrigo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be paid a $0.276 dividend. 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%.

Insiders Place Their Bets

In other Perrigo news, EVP Robert Willis purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the purchase, the executive vice president now owns 25,105 shares in the company, valued at $649,466.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Alison Ives acquired 2,490 shares of Perrigo stock in a transaction dated Tuesday, March 5th. The stock was bought at an average price of $27.26 per share, for a total transaction of $67,877.40. Following the completion of the acquisition, the executive vice president now directly owns 16,122 shares in the company, valued at approximately $439,485.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Willis bought 6,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the transaction, the executive vice president now directly owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,990 shares of company stock valued at $475,227 over the last 90 days. 0.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

About Perrigo

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.