Analysts Set Expectations for Perrigo Company’s Q1 2018 Earnings (PRGO)
Perrigo Company (NYSE:PRGO) – Research analysts at Leerink Swann issued their Q1 2018 earnings per share (EPS) estimates for shares of Perrigo in a report issued on Tuesday. Leerink Swann analyst A. Fadia expects that the company will post earnings of $1.13 per share for the quarter. Leerink Swann currently has a “Market Perform” rating and a $90.00 price target on the stock. Leerink Swann also issued estimates for Perrigo’s Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $1.44 EPS, Q4 2018 earnings at $1.49 EPS and FY2022 earnings at $6.42 EPS.
A number of other brokerages have also issued reports on PRGO. Deutsche Bank lifted their target price on Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. Royal Bank of Canada restated a “sell” rating and issued a $64.00 price target on shares of Perrigo in a research note on Wednesday, September 13th. Canaccord Genuity restated a “buy” rating and issued a $100.00 price target (up from $88.00) on shares of Perrigo in a research note on Wednesday, September 13th. Wells Fargo & Co raised their price target on Perrigo to $90.00 and gave the company a “market perform” rating in a research note on Friday, November 10th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $107.00 price target on shares of Perrigo in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $92.00.
Shares of Perrigo (PRGO) traded up $1.64 during trading on Thursday, reaching $91.08. The company had a trading volume of 1,597,900 shares, compared to its average volume of 1,088,033. Perrigo has a 1-year low of $63.68 and a 1-year high of $92.04. The firm has a market cap of $12,596.79, a price-to-earnings ratio of -9.94, a PEG ratio of 1.73 and a beta of 0.70. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.24 and a current ratio of 1.72.
Perrigo (NYSE:PRGO) last released its quarterly earnings results on Thursday, November 9th. The company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.28. Perrigo had a positive return on equity of 11.60% and a negative net margin of 26.28%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the firm posted $1.65 earnings per share. Perrigo’s revenue was down 2.0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 19th. Shareholders of record on Friday, December 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.70%. Perrigo’s dividend payout ratio is presently -6.99%.
In other Perrigo news, EVP John Wesolowski sold 450 shares of Perrigo stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $83.09, for a total value of $37,390.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Todd W. Kingma sold 1,500 shares of Perrigo stock in a transaction on Friday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the completion of the transaction, the vice president now directly owns 19,565 shares of the company’s stock, valued at $1,731,893.80. The disclosure for this sale can be found here. Insiders sold a total of 4,051 shares of company stock valued at $355,370 over the last ninety days. Insiders own 6.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Bank of Australia raised its holdings in shares of Perrigo by 13.8% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,455 shares of the company’s stock worth $108,000 after buying an additional 176 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Perrigo during the 3rd quarter worth $217,000. Conning Inc. acquired a new position in shares of Perrigo during the 3rd quarter worth $219,000. BlueCrest Capital Management Ltd acquired a new position in shares of Perrigo during the 2nd quarter worth $221,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Perrigo during the 3rd quarter worth $222,000. 83.29% of the stock is owned by hedge funds and other institutional investors.
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Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.
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