Perrigo (PRGO) Issues FY18 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY18 earnings guidance on Thursday morning. The company provided EPS guidance of $4.45-4.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.86. The company issued revenue guidance of ~$4.72 billion, compared to the consensus revenue estimate of $4.87 billion.Perrigo also updated its FY 2018 guidance to $4.45-4.65 EPS.

Shares of Perrigo stock traded up $0.32 during midday trading on Friday, reaching $63.20. The company had a trading volume of 91,839 shares, compared to its average volume of 1,289,519. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.81 and a quick ratio of 1.23. The firm has a market cap of $10.11 billion, a P/E ratio of 12.81, a P/E/G ratio of 2.39 and a beta of 0.66. Perrigo has a fifty-two week low of $62.86 and a fifty-two week high of $95.93.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, November 8th. The company reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.17 billion. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.39 earnings per share. Equities analysts anticipate that Perrigo will post 4.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Investors of record on Friday, November 30th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Thursday, November 29th. Perrigo’s dividend payout ratio is currently 15.42%.

PRGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald reaffirmed a buy rating and issued a $107.00 price objective on shares of Perrigo in a research note on Wednesday, July 18th. Royal Bank of Canada set a $63.00 price objective on Perrigo and gave the stock a hold rating in a research note on Friday. ValuEngine lowered Perrigo from a sell rating to a strong sell rating in a research note on Friday, September 14th. Deutsche Bank lowered Perrigo from a buy rating to a hold rating and cut their price objective for the stock from $93.00 to $78.00 in a research note on Friday, August 10th. Finally, Canaccord Genuity set a $90.00 price objective on Perrigo and gave the stock a buy rating in a research note on Friday, August 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $87.80.

In other Perrigo news, EVP Svend Andersen purchased 7,200 shares of the company’s stock in a transaction on Tuesday, August 14th. The shares were purchased at an average cost of $69.43 per share, with a total value of $499,896.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.90% of the stock is currently owned by insiders.

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About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

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Earnings History and Estimates for Perrigo (NYSE:PRGO)

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