Perrigo Company PLC (PRGO) to Post Q4 2019 Earnings of $1.07 Per Share, Svb Leerink Forecasts

Perrigo Company PLC (NYSE:PRGO) – Stock analysts at Svb Leerink decreased their Q4 2019 earnings estimates for Perrigo in a report released on Monday, May 20th. Svb Leerink analyst A. Fadia now forecasts that the company will earn $1.07 per share for the quarter, down from their prior estimate of $1.17. Svb Leerink also issued estimates for Perrigo’s FY2021 earnings at $4.46 EPS, FY2022 earnings at $4.60 EPS and FY2023 earnings at $4.92 EPS.

Perrigo (NYSE:PRGO) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.94 by $0.13. Perrigo had a net margin of 2.43% and a return on equity of 10.40%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business posted $1.26 EPS.

PRGO has been the topic of a number of other research reports. SunTrust Banks lifted their price objective on shares of Perrigo to $51.00 and gave the stock a “hold” rating in a research report on Monday. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Perrigo in a research report on Wednesday, May 8th. ValuEngine raised shares of Perrigo from a “strong sell” rating to a “sell” rating in a research report on Wednesday, March 20th. Morgan Stanley cut their price objective on shares of Perrigo from $67.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada set a $48.00 price objective on shares of Perrigo and gave the stock a “hold” rating in a research report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $73.00.

NYSE:PRGO opened at $47.77 on Thursday. Perrigo has a one year low of $36.28 and a one year high of $80.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.64 and a quick ratio of 1.14. The stock has a market capitalization of $6.74 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29.

A number of large investors have recently added to or reduced their stakes in PRGO. Atlas Capital Advisors LLC purchased a new stake in Perrigo during the 4th quarter worth approximately $26,000. Moody National Bank Trust Division purchased a new stake in Perrigo during the 1st quarter worth approximately $32,000. Oregon Public Employees Retirement Fund grew its position in Perrigo by 3,574.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock worth $37,000 after purchasing an additional 1,391,870 shares during the last quarter. Parallel Advisors LLC grew its position in Perrigo by 833.7% during the 1st quarter. Parallel Advisors LLC now owns 803 shares of the company’s stock worth $39,000 after purchasing an additional 717 shares during the last quarter. Finally, Advisor Group Inc. grew its position in Perrigo by 822.2% during the 4th quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock worth $41,000 after purchasing an additional 962 shares during the last quarter. 83.10% of the stock is currently owned by institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Friday, May 31st will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Thursday, May 30th. This is an increase from Perrigo’s previous quarterly dividend of $0.19. Perrigo’s payout ratio is currently 16.70%.

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.

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