Perrigo (PRGO) to Release Earnings on Wednesday

Perrigo (NYSE:PRGO - Get Free Report) will be posting its quarterly earnings results before the market opens on Wednesday, November 6th. Analysts expect Perrigo to post earnings of $0.82 per share for the quarter. Perrigo has set its FY24 guidance at $2.50-2.65 EPS and its FY 2024 guidance at 2.500-2.650 EPS.Investors that are interested in registering for the company's conference call can do so using this link.

Perrigo (NYSE:PRGO - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.07. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.13 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The business's revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. On average, analysts expect Perrigo to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Perrigo Stock Performance

PRGO stock traded down $0.95 during mid-day trading on Wednesday, reaching $25.43. The company had a trading volume of 1,858,693 shares, compared to its average volume of 1,609,036. Perrigo has a one year low of $23.89 and a one year high of $34.60. The stock has a market capitalization of $3.47 billion, a P/E ratio of -376.86 and a beta of 0.48. The company has a quick ratio of 1.24, a current ratio of 1.99 and a debt-to-equity ratio of 0.80. The stock's 50-day simple moving average is $26.59 and its two-hundred day simple moving average is $27.69.

Perrigo Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Friday, August 30th were given a $0.276 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.10 annualized dividend and a yield of 4.34%. Perrigo's dividend payout ratio is presently -1,571.43%.

Insider Buying and Selling at Perrigo

In related news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $27.75, for a total transaction of $785,325.00. Following the transaction, the executive vice president now directly owns 73,553 shares of the company's stock, valued at $2,041,095.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Perrigo news, EVP Svend Andersen sold 28,300 shares of Perrigo stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $27.75, for a total value of $785,325.00. Following the transaction, the executive vice president now owns 73,553 shares in the company, valued at approximately $2,041,095.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now owns 6,009 shares of the company's stock, valued at $164,045.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,254 shares of company stock valued at $1,411,969. 0.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $42.00 price target on shares of Perrigo in a research note on Monday, September 30th. StockNews.com lowered Perrigo from a "buy" rating to a "hold" rating in a research report on Friday, October 25th. Piper Sandler lowered their price target on Perrigo from $36.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, July 11th. Finally, Jefferies Financial Group restated a "hold" rating and set a $30.00 price objective (down from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Perrigo currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

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.