$1.27 Billion in Sales Expected for Perrigo Company PLC (NYSE:PRGO) This Quarter

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Analysts expect Perrigo Company PLC (NYSE:PRGO) to post $1.27 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Perrigo’s earnings. The lowest sales estimate is $1.23 billion and the highest is $1.32 billion. Perrigo posted sales of $1.20 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The business is expected to announce its next earnings report on Wednesday, February 26th.

On average, analysts expect that Perrigo will report full year sales of $4.77 billion for the current year, with estimates ranging from $4.73 billion to $4.81 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.92 billion, with estimates ranging from $4.03 billion to $5.06 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Perrigo.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.11. Perrigo had a net margin of 5.24% and a return on equity of 9.39%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.

Several equities research analysts have commented on PRGO shares. TheStreet upgraded shares of Perrigo from a “d+” rating to a “c-” rating in a research note on Friday, September 27th. Argus upgraded Perrigo from a “hold” rating to a “buy” rating in a report on Friday, October 11th. ValuEngine raised Perrigo from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. SunTrust Banks upped their target price on Perrigo from $51.00 to $55.00 and gave the stock a “hold” rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price target on Perrigo from $45.00 to $52.00 and gave the company a “market perform” rating in a research report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Perrigo has an average rating of “Hold” and a consensus price target of $54.17.

In other news, EVP Ronald Craig Janish sold 2,424 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $49.90, for a total value of $120,957.60. Following the sale, the executive vice president now directly owns 6,006 shares of the company’s stock, valued at approximately $299,699.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Grainne Quinn sold 2,050 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $49.08, for a total transaction of $100,614.00. Following the completion of the sale, the executive vice president now owns 3,047 shares of the company’s stock, valued at $149,546.76. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. SRS Capital Advisors Inc. acquired a new position in shares of Perrigo in the second quarter valued at $25,000. Financial Gravity Wealth Inc. lifted its stake in shares of Perrigo by 15,075.0% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 607 shares of the company’s stock worth $29,000 after buying an additional 603 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in shares of Perrigo by 295.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 890 shares of the company’s stock worth $42,000 after buying an additional 665 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Perrigo by 343.3% during the 3rd quarter. Parallel Advisors LLC now owns 931 shares of the company’s stock worth $52,000 after buying an additional 721 shares during the period. Finally, CSat Investment Advisory L.P. boosted its holdings in shares of Perrigo by 43.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,527 shares of the company’s stock worth $72,000 after buying an additional 460 shares during the period. Institutional investors and hedge funds own 86.78% of the company’s stock.

Shares of PRGO stock opened at $49.70 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.32 and a debt-to-equity ratio of 0.58. Perrigo has a 1 year low of $36.28 and a 1 year high of $64.27. The firm’s fifty day moving average price is $51.71 and its two-hundred day moving average price is $49.94. The firm has a market capitalization of $6.97 billion, a P/E ratio of 10.92, a PEG ratio of 5.17 and a beta of 1.45.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.84 dividend on an annualized basis and a yield of 1.69%. Perrigo’s payout ratio is 18.46%.

About Perrigo

Perrigo Company plc, a healthcare company, manufactures and supplies over-the-counter (OTC) healthcare products, infant formulas, branded OTC products, and generic pharmaceutical products. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

See Also: What are Institutional Investors?

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