Perrigo (PRGO) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Perrigo (NYSE:PRGO) announced its quarterly earnings data on Thursday. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04, Briefing.com reports. Perrigo had a return on equity of 11.92% and a net margin of 4.77%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Perrigo updated its FY 2018 guidance to $4.45-4.65 EPS and its FY18 guidance to $4.45-4.65 EPS.

Shares of NYSE PRGO opened at $62.88 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. Perrigo has a 1-year low of $62.86 and a 1-year high of $95.93. The company has a market cap of $10.11 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 2.39 and a beta of 0.66.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Shareholders of record on Friday, November 30th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.76 annualized dividend and a yield of 1.21%. Perrigo’s payout ratio is currently 15.42%.

PRGO has been the topic of several research reports. Canaccord Genuity set a $90.00 target price on Perrigo and gave the stock a “buy” rating in a report on Friday, August 17th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $107.00 target price on shares of Perrigo in a report on Wednesday, July 18th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $73.00 target price on shares of Perrigo in a report on Friday, August 10th. Royal Bank of Canada reduced their target price on Perrigo from $89.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Finally, Stifel Nicolaus reduced their target price on Perrigo from $92.00 to $87.00 and set a “hold” rating on the stock in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $88.07.

In related news, EVP Svend Andersen acquired 7,200 shares of Perrigo stock in a transaction on Tuesday, August 14th. The shares were bought at an average cost of $69.43 per share, with a total value of $499,896.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC boosted its position in shares of Perrigo by 27.0% during the first quarter. LPL Financial LLC now owns 9,585 shares of the company’s stock valued at $799,000 after buying an additional 2,040 shares during the period. Royal Bank of Canada boosted its position in shares of Perrigo by 176.4% during the first quarter. Royal Bank of Canada now owns 38,431 shares of the company’s stock valued at $3,203,000 after buying an additional 88,765 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Perrigo during the first quarter valued at approximately $205,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Perrigo during the first quarter valued at approximately $208,000. Finally, State of Alaska Department of Revenue boosted its position in shares of Perrigo by 38.6% during the second quarter. State of Alaska Department of Revenue now owns 35,743 shares of the company’s stock valued at $2,604,000 after buying an additional 9,950 shares during the period. 83.00% of the stock is currently owned by institutional investors.

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Perrigo Company Profile

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 for Perrigo (NYSE:PRGO)

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