Perrigo (NYSE:PRGO) posted its earnings results on Thursday. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.04, Briefing.com reports. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Perrigo had a net margin of 4.77% and a return on equity of 11.92%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 EPS. Perrigo updated its FY 2018 guidance to $4.45-4.65 EPS and its FY18 guidance to $4.45-4.65 EPS.
Shares of NYSE PRGO traded up $1.19 during midday trading on Friday, hitting $64.07. 2,559,887 shares of the company’s stock traded hands, compared to its average volume of 1,266,106. Perrigo has a 1 year low of $62.74 and a 1 year high of $95.93. The firm has a market capitalization of $10.28 billion, a P/E ratio of 14.59, a PEG ratio of 2.43 and a beta of 0.66. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Friday, November 30th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, November 29th. Perrigo’s payout ratio is currently 15.42%.
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Perrigo by 114.3% during the 3rd quarter. FMR LLC now owns 11,080,094 shares of the company’s stock valued at $784,471,000 after buying an additional 5,909,969 shares in the last quarter. Starboard Value LP grew its holdings in Perrigo by 4.1% during the 2nd quarter. Starboard Value LP now owns 10,041,425 shares of the company’s stock valued at $732,120,000 after buying an additional 400,000 shares in the last quarter. BlackRock Inc. grew its holdings in Perrigo by 1.7% during the 2nd quarter. BlackRock Inc. now owns 8,831,380 shares of the company’s stock valued at $643,897,000 after buying an additional 148,761 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Perrigo by 11.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,136,381 shares of the company’s stock valued at $222,056,000 after buying an additional 334,660 shares in the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in Perrigo by 132.0% during the 3rd quarter. Ceredex Value Advisors LLC now owns 2,828,159 shares of the company’s stock valued at $200,234,000 after buying an additional 1,609,009 shares in the last quarter. 83.00% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the stock. Argus cut 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 target price on shares of Perrigo and gave the company a “buy” rating in a research note on Thursday, August 9th. ValuEngine upgraded shares of Perrigo from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Wells Fargo & Co reduced 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 report on Tuesday, August 21st. Finally, Canaccord Genuity set a $90.00 price target on shares of Perrigo and gave the company a “buy” rating in a research report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $87.80.
TRADEMARK VIOLATION NOTICE: This piece of content was published by BBNS and is owned by of BBNS. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://baseballnewssource.com/2018/11/10/perrigo-prgo-announces-quarterly-earnings-results/2971964.html.
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.
Read More: How a Put Option Works
Receive News & Ratings for Perrigo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo and related companies with MarketBeat.com's FREE daily email newsletter.