Perrigo (NYSE:PRGO) Releases FY24 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $2.50-2.65 for the period, compared to the consensus EPS estimate of $2.58. The company issued revenue guidance of down 3-5% yr/yr to ~$4.42-4.52 billion, compared to the consensus revenue estimate of $4.60 billion. Perrigo also updated its FY 2024 guidance to 2.500-2.650 EPS.

Perrigo Stock Down 2.1 %

PRGO stock traded down $0.60 during mid-day trading on Friday, reaching $27.58. The company had a trading volume of 3,935,419 shares, compared to its average volume of 1,549,793. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. The stock has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $29.67. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -394.00 and a beta of 0.51. Perrigo has a 52 week low of $24.82 and a 52 week high of $40.28.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The business’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Perrigo will post 2.56 earnings per share for the current fiscal year.

Perrigo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be paid a $0.276 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.10 dividend on an annualized basis and a yield of 4.00%. Perrigo’s dividend payout ratio is -1,571.43%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PRGO shares. StockNews.com cut Perrigo from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Piper Sandler cut their price objective on Perrigo from $36.00 to $35.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Finally, Canaccord Genuity Group reaffirmed a buy rating and issued a $42.00 price objective on shares of Perrigo in a research report on Friday, April 12th.

Insider Buying and Selling

In other news, EVP Svend Andersen purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of $27.90 per share, with a total value of $27,900.00. Following the acquisition, the executive vice president now owns 101,853 shares in the company, valued at approximately $2,841,698.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Perrigo Company Profile

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.