Perrigo (PRGO) Updates FY18 Earnings Guidance

Perrigo (NYSE:PRGO) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $4.45-4.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.86. The company issued revenue guidance of ~$4.72 billion, compared to the consensus revenue estimate of $4.87 billion.Perrigo also updated its FY 2018 guidance to $4.45-4.65 EPS.

A number of research firms recently weighed in on PRGO. Argus downgraded shares of Perrigo from a buy rating to a hold rating in a research note on Monday, July 30th. Cantor Fitzgerald set a $107.00 price target on shares of Perrigo and gave the stock a buy rating in a research note on Thursday, August 9th. ValuEngine raised shares of Perrigo from a sell rating to a hold rating in a research note on Wednesday, August 8th. Wells Fargo & Co dropped their price target on shares of Perrigo from $84.00 to $77.00 and set a market perform rating for the company in a research note on Tuesday, August 21st. Finally, Canaccord Genuity set a $90.00 price target on shares of Perrigo and gave the stock a buy rating in a research note on Friday, August 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $87.80.

Shares of NYSE:PRGO opened at $64.07 on Friday. Perrigo has a 52 week low of $62.74 and a 52 week high of $95.93. The company has a quick ratio of 1.23, a current ratio of 1.81 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 2.43 and a beta of 0.66.

Perrigo (NYSE:PRGO) last issued its earnings results on Thursday, November 8th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts anticipate that Perrigo will post 4.93 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, November 29th. Perrigo’s dividend payout ratio (DPR) is presently 15.42%.

In related news, CEO Murray S. Kessler purchased 15,683 shares of Perrigo stock in a transaction dated Friday, November 9th. The stock was bought at an average price of $63.79 per share, for a total transaction of $1,000,418.57. Following the completion of the acquisition, the chief executive officer now directly owns 13,416 shares of the company’s stock, valued at $855,806.64. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Todd W. Kingma purchased 3,200 shares of Perrigo stock in a transaction dated Friday, November 9th. The stock was bought at an average price of $63.99 per share, with a total value of $204,768.00. Following the acquisition, the vice president now directly owns 23,587 shares of the company’s stock, valued at $1,509,332.13. The disclosure for this purchase can be found here. Insiders bought 29,983 shares of company stock valued at $1,950,822 in the last quarter. Corporate insiders own 6.90% of the company’s stock.

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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 and Estimates for Perrigo (NYSE:PRGO)

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