Perrigo (NYSE:PRGO) Issues FY24 Earnings Guidance

by · The Markets Daily

Perrigo (NYSE:PRGO – Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.50 to $2.65 for the period, compared to the consensus EPS estimate of $2.57. Perrigo also updated its FY 2024 guidance to 2.500-2.650 EPS.

Analyst Ratings Changes

Several research firms have recently weighed in on PRGO. Piper Sandler reduced their price objective on shares of Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group restated a “hold” rating and set a $30.00 price objective (down previously from $50.00) on shares of Perrigo in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Read Our Latest Stock Analysis on Perrigo

Perrigo Stock Performance

PRGO stock traded down $0.57 during mid-day trading on Friday, reaching $26.36. 1,634,316 shares of the stock traded hands, compared to its average volume of 1,625,353. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.24. Perrigo has a 52-week low of $23.89 and a 52-week high of $34.60. The stock’s fifty day moving average is $26.19 and its 200-day moving average is $27.52.

Perrigo (NYSE:PRGO – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 EPS for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts expect that Perrigo will post 2.56 earnings per share for the current year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be given a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, November 29th. Perrigo’s dividend payout ratio (DPR) is -94.02%.

Insider Transactions at Perrigo

In other news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the completion of the sale, the executive vice president now directly owns 73,553 shares of the company’s stock, valued at $2,041,095.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Svend Andersen sold 28,300 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ronald Craig Janish sold 13,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $29.40, for a total value of $382,200.00. Following the completion of the transaction, the executive vice president now owns 20,553 shares in the company, valued at $604,258.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,254 shares of company stock valued at $1,411,969 over the last three months. 0.70% of the stock is owned by corporate insiders.

About Perrigo

(Get Free Report)

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.

Recommended Stories