Perrigo (PRGO) Posts Earnings Results, Beats Expectations By $0.01 EPS

Perrigo (NYSE:PRGO) announced its quarterly earnings results on Thursday. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.01, Briefing.com reports. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Perrigo had a net margin of 2.59% and a return on equity of 11.93%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 EPS. Perrigo updated its FY18 guidance to $4.75-4.95 EPS.

Perrigo traded down $0.13, hitting $69.90, during trading on Friday, Marketbeat reports. The company had a trading volume of 3,731,300 shares, compared to its average volume of 1,171,513. Perrigo has a 1-year low of $67.69 and a 1-year high of $95.93. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.48 and a current ratio of 2.08. The company has a market capitalization of $10.88 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.85 and a beta of 0.84.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Investors of record on Friday, August 31st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 annualized dividend and a yield of 1.09%. Perrigo’s dividend payout ratio (DPR) is presently 15.42%.

In other Perrigo news, Director Jeffrey C. Smith purchased 250,000 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was bought at an average price of $75.21 per share, with a total value of $18,802,500.00. Following the transaction, the director now directly owns 528 shares of the company’s stock, valued at approximately $39,710.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey C. Smith purchased 50,000 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was acquired at an average cost of $75.89 per share, with a total value of $3,794,500.00. Following the transaction, the director now directly owns 528 shares in the company, valued at $40,069.92. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by company insiders.

A number of analysts have recently issued reports on the stock. Jefferies Financial Group restated a “hold” rating and set a $73.00 price target on shares of Perrigo in a report on Friday. JPMorgan Chase & Co. cut their price target on shares of Perrigo from $83.00 to $75.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank of Canada set a $67.00 price target on shares of Perrigo and gave the stock a “hold” rating in a report on Friday. Stifel Nicolaus cut their price target on shares of Perrigo from $92.00 to $87.00 and set a “hold” rating for the company in a report on Friday. Finally, Deutsche Bank downgraded shares of Perrigo from a “buy” rating to a “hold” rating and cut their price target for the stock from $93.00 to $78.00 in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $89.94.

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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