$1.09 Billion in Sales Expected for Perrigo Company plc (NYSE:PRGO) This Quarter

Brokerages expect Perrigo Company plc (NYSE:PRGO) to post $1.09 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Perrigo’s earnings. The highest sales estimate is $1.12 billion and the lowest is $1.07 billion. Perrigo reported sales of $1.29 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.5%. The firm is scheduled to announce its next earnings results on Monday, March 7th.

On average, analysts expect that Perrigo will report full year sales of $4.13 billion for the current year, with estimates ranging from $4.10 billion to $4.16 billion. For the next year, analysts expect that the firm will report sales of $4.48 billion, with estimates ranging from $4.36 billion to $4.59 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Perrigo.

Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Wednesday, November 10th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.20). Perrigo had a positive return on equity of 5.88% and a negative net margin of 5.86%. During the same quarter last year, the firm earned $0.93 EPS.

PRGO has been the topic of several research analyst reports. Raymond James cut their target price on shares of Perrigo from $59.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, November 11th. Jefferies Financial Group raised shares of Perrigo from a “hold” rating to a “buy” rating and increased their target price for the stock from $45.00 to $63.00 in a research note on Thursday, September 30th. Finally, Royal Bank of Canada cut their target price on shares of Perrigo from $51.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 12th.

Shares of PRGO traded down $0.37 during trading hours on Friday, hitting $38.83. 1,068,570 shares of the stock were exchanged, compared to its average volume of 1,520,404. Perrigo has a fifty-two week low of $38.20 and a fifty-two week high of $50.90. The company has a quick ratio of 1.67, a current ratio of 2.11 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $44.38. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of -20.65 and a beta of 0.98.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 21st. Shareholders of record on Friday, December 3rd will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, December 2nd. Perrigo’s dividend payout ratio (DPR) is -51.06%.

Several institutional investors have recently added to or reduced their stakes in PRGO. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Perrigo during the third quarter worth about $342,311,000. Coho Partners Ltd. increased its stake in shares of Perrigo by 445.0% in the third quarter. Coho Partners Ltd. now owns 2,969,781 shares of the company’s stock worth $140,560,000 after purchasing an additional 2,424,881 shares in the last quarter. BlackRock Inc. increased its stake in shares of Perrigo by 21.0% in the third quarter. BlackRock Inc. now owns 11,110,848 shares of the company’s stock worth $525,878,000 after purchasing an additional 1,925,848 shares in the last quarter. Factorial Partners LLC increased its stake in shares of Perrigo by 3,947.0% in the first quarter. Factorial Partners LLC now owns 1,768,539 shares of the company’s stock worth $43,700,000 after purchasing an additional 1,724,839 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Perrigo by 112.2% in the second quarter. Point72 Asset Management L.P. now owns 2,541,300 shares of the company’s stock worth $116,519,000 after purchasing an additional 1,343,509 shares in the last quarter. 88.72% of the stock is currently owned by hedge funds and other institutional investors.

Perrigo Company Profile

Perrigo Co Plc provides self-care products and over-the-counter (OTC) health and wellness solutions. It enhances individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed. The company was founded by Luther Perrigo in 1887 and is headquartered in Dublin, Ireland.

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Earnings History and Estimates for Perrigo (NYSE:PRGO)

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