Premier (NASDAQ:PINC) Updates FY24 Earnings Guidance

Premier (NASDAQ:PINC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.06 to $2.18 for the period, compared to the consensus earnings per share estimate of $2.15. The company issued revenue guidance of $1.265 billion to $1.325 billion, compared to the consensus revenue estimate of $1.30 billion.

Premier Stock Down 0.9 %

PINC stock traded down $0.18 during midday trading on Friday, hitting $19.58. The company’s stock had a trading volume of 159,974 shares, compared to its average volume of 1,563,492. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.43 and a quick ratio of 1.32. The company’s fifty day moving average price is $21.10 and its 200 day moving average price is $21.20. The stock has a market capitalization of $2.35 billion, a P/E ratio of 14.22, a PEG ratio of 5.22 and a beta of 0.39. Premier has a twelve month low of $18.65 and a twelve month high of $28.30.

Premier (NASDAQ:PINC) last issued its earnings results on Monday, February 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $334.75 million during the quarter, compared to the consensus estimate of $338.55 million. Premier had a net margin of 12.71% and a return on equity of 11.60%. As a group, equities research analysts predict that Premier will post 1.95 EPS for the current year.

Premier Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 4.29%. Premier’s dividend payout ratio (DPR) is 60.43%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PINC shares. Piper Sandler cut their target price on shares of Premier from $24.00 to $22.00 and set a neutral rating for the company in a research note on Wednesday. Leerink Partnrs restated a market perform rating on shares of Premier in a research note on Monday, February 26th. Canaccord Genuity Group reissued a hold rating and issued a $21.00 target price (down previously from $27.00) on shares of Premier in a research report on Wednesday. Robert W. Baird lowered their price target on shares of Premier from $25.00 to $22.00 and set a neutral rating on the stock in a research report on Wednesday. Finally, StockNews.com upgraded shares of Premier from a hold rating to a buy rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Premier currently has an average rating of Hold and a consensus price target of $23.50.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.