FY2024 EPS Estimates for Perrigo Decreased by Zacks Research

Perrigo Company plc (NYSE:PRGO - Free Report) - Equities researchers at Zacks Research reduced their FY2024 EPS estimates for shares of Perrigo in a research report issued on Wednesday, November 27th. Zacks Research analyst S. Ganoria now expects that the company will post earnings of $2.55 per share for the year, down from their previous forecast of $2.56. The consensus estimate for Perrigo's current full-year earnings is $2.56 per share. Zacks Research also issued estimates for Perrigo's Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.52 EPS, FY2025 earnings at $3.05 EPS and Q1 2026 earnings at $0.62 EPS.

Several other research firms have also recently weighed in on PRGO. Canaccord Genuity Group reiterated a "buy" rating and issued a $42.00 price target on shares of Perrigo in a report on Monday, September 30th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $30.00 target price (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, StockNews.com raised Perrigo from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Perrigo Stock Down 0.1 %

NYSE PRGO traded down $0.04 during trading hours on Monday, reaching $28.50. 1,469,845 shares of the company's stock were exchanged, compared to its average volume of 1,618,007. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of -24.39 and a beta of 0.48. The company's 50-day moving average is $26.06 and its two-hundred day moving average is $27.01. Perrigo has a one year low of $23.89 and a one year high of $34.60.

Perrigo (NYSE:PRGO - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.81. The firm had revenue of $1.09 billion during the quarter, compared to analysts' expectations of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The company's revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 earnings per share.

Institutional Trading of Perrigo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. boosted its stake in shares of Perrigo by 9.7% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 5,100 shares of the company's stock worth $134,000 after acquiring an additional 450 shares during the period. Creative Planning increased its holdings in shares of Perrigo by 3.7% in the third quarter. Creative Planning now owns 18,477 shares of the company's stock valued at $485,000 after purchasing an additional 661 shares during the last quarter. Arizona State Retirement System raised its position in shares of Perrigo by 1.9% in the second quarter. Arizona State Retirement System now owns 37,939 shares of the company's stock valued at $974,000 after purchasing an additional 699 shares during the period. KBC Group NV lifted its stake in shares of Perrigo by 25.1% during the 3rd quarter. KBC Group NV now owns 4,517 shares of the company's stock worth $118,000 after buying an additional 905 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Perrigo by 3.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,083 shares of the company's stock worth $747,000 after buying an additional 923 shares during the period. 95.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Perrigo

In other news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $27.30, for a total value of $244,444.20. Following the completion of the sale, the director now owns 6,009 shares of the company's stock, valued at approximately $164,045.70. This represents a 59.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.70% of the company's stock.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be paid a $0.276 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.10 annualized dividend and a yield of 3.87%. Perrigo's payout ratio is currently -94.02%.

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.