Perrigo (NYSE:PRGO) Releases Earnings Results, Beats Expectations By $0.01 EPS

Perrigo (NYSE:PRGO) announced its earnings results on Thursday. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01, Zacks reports. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%.

Perrigo Stock Up 20.1 %

Shares of NYSE PRGO opened at $28.98 on Friday. Perrigo has a 52 week low of $23.14 and a 52 week high of $33.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The stock’s fifty day moving average is $24.94 and its 200 day moving average is $26.20. The stock has a market capitalization of $3.95 billion, a P/E ratio of -24.76 and a beta of 0.54.

Perrigo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.00%. This is a boost from Perrigo’s previous quarterly dividend of $0.28. Perrigo’s dividend payout ratio (DPR) is presently -92.80%.

Wall Street Analysts Forecast Growth

PRGO has been the subject of a number of recent research reports. Piper Sandler cut shares of Perrigo from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $27.00 in a research report on Monday, January 6th. StockNews.com cut shares of Perrigo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Argus cut Perrigo from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Perrigo has an average rating of “Hold” and an average price target of $33.00.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Jeffrey B. Kindler sold 17,598 shares of Perrigo stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $28.27, for a total value of $497,495.46. Following the transaction, the director now owns 5,409 shares in the company, valued at $152,912.43. The trade was a 76.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.70% of the company’s stock.

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.