Perrigo (PRGO) Set to Announce Quarterly Earnings on Tuesday

Perrigo (NYSE:PRGO) will be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect Perrigo to post earnings of $0.24 per share for the quarter. Perrigo has set its FY 2024 guidance at 2.500-2.650 EPS and its FY24 guidance at $2.50 to $2.65 EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.03. Perrigo had a negative net margin of 0.27% and a positive return on equity of 7.34%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $0.75 EPS. Perrigo’s quarterly revenue was up .1% compared to the same quarter last year. On average, analysts expect Perrigo to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Perrigo Price Performance

Perrigo stock traded down $0.03 during trading on Tuesday, hitting $32.78. The stock had a trading volume of 133,144 shares, compared to its average volume of 1,780,818. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.79 and a quick ratio of 1.07. The stock’s 50 day moving average is $30.54 and its two-hundred day moving average is $30.82. Perrigo has a 1 year low of $25.77 and a 1 year high of $40.28.

Perrigo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Friday, March 8th were paid a $0.276 dividend. This is a boost from Perrigo’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 7th. Perrigo’s payout ratio is currently -1,100.00%.

Insider Buying and Selling

In other news, EVP Robert Willis purchased 6,000 shares of the stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $25.87 per share, for a total transaction of $155,220.00. Following the completion of the transaction, the executive vice president now directly owns 25,105 shares of the company’s stock, valued at approximately $649,466.35. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Perrigo news, CEO Patrick Lockwood-Taylor acquired 9,500 shares of the stock in a transaction dated Thursday, February 29th. The stock was purchased at an average cost of $26.54 per share, for a total transaction of $252,130.00. Following the acquisition, the chief executive officer now owns 20,500 shares in the company, valued at approximately $544,070. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert Willis bought 6,000 shares of Perrigo stock in a transaction that occurred on Thursday, February 29th. The shares were acquired at an average cost of $25.87 per share, for a total transaction of $155,220.00. Following the acquisition, the executive vice president now owns 25,105 shares in the company, valued at approximately $649,466.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 17,990 shares of company stock worth $475,227. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

PRGO has been the subject of several recent research reports. Piper Sandler lifted their target price on shares of Perrigo from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on shares of Perrigo from $48.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, February 28th. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Friday, April 12th.

About Perrigo

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.