Perrigo (PRGO) Scheduled to Post Quarterly Earnings on Wednesday

Perrigo (NYSE:PRGO) will post its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Perrigo to post earnings of $0.82 per share for the quarter. Perrigo has set its FY24 guidance at $2.50-2.65 EPS and its FY 2024 guidance at 2.500-2.650 EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a negative net margin of 2.81% and a positive return on equity of 6.79%. The business’s revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. On average, analysts expect Perrigo to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Perrigo Stock Performance

Shares of PRGO opened at $26.38 on Wednesday. The company has a 50-day simple moving average of $26.59 and a 200-day simple moving average of $27.69. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $3.60 billion, a PE ratio of -376.86 and a beta of 0.48. Perrigo has a 52-week low of $23.89 and a 52-week high of $34.60.

Perrigo Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th were issued a dividend of $0.276 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 4.18%. Perrigo’s dividend payout ratio (DPR) is currently -1,571.43%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRGO. StockNews.com downgraded shares of Perrigo from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Piper Sandler dropped their target price on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and set a $42.00 target price on shares of Perrigo in a report on Monday, September 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a $30.00 target price (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Perrigo currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insiders Place Their Bets

In other Perrigo news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total transaction of $785,325.00. Following the sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Svend Andersen sold 28,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at approximately $2,041,095.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katherine C. Doyle sold 8,954 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total transaction of $244,444.20. Following the completion of the sale, the director now directly owns 6,009 shares in the company, valued at $164,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,254 shares of company stock valued at $1,411,969 in the last ninety days. Insiders own 0.70% of the company’s stock.

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.