Zacks Research Issues Negative Forecast for Perrigo Earnings

Perrigo Company plc (NYSE:PRGO) – Stock analysts at Zacks Research decreased their FY2024 EPS estimates for shares of Perrigo in a research report issued to clients and investors 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.

Perrigo (NYSE:PRGO) last announced its quarterly 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 analyst estimates of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. Perrigo’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share.

PRGO has been the topic of a number of other reports. StockNews.com upgraded shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research note on Monday, September 30th. One 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Down 0.1 %

Shares of Perrigo stock opened at $28.50 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.56 and a quick ratio of 1.77. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -24.39 and a beta of 0.48. The firm’s 50-day moving average is $26.06 and its two-hundred day moving average is $27.01. Perrigo has a 1 year low of $23.89 and a 1 year high of $34.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PRGO. Franklin Resources Inc. acquired a new stake in shares of Perrigo during the third quarter worth about $3,717,000. Tidal Investments LLC raised its position in Perrigo by 29.4% during the 3rd quarter. Tidal Investments LLC now owns 54,830 shares of the company’s stock worth $1,438,000 after buying an additional 12,456 shares during the last quarter. Virtu Financial LLC acquired a new stake in Perrigo during the 3rd quarter valued at approximately $909,000. Geode Capital Management LLC boosted its holdings in shares of Perrigo by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,359,072 shares of the company’s stock valued at $61,894,000 after acquiring an additional 106,356 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Perrigo by 44.8% in the third quarter. Barclays PLC now owns 120,502 shares of the company’s stock worth $3,160,000 after acquiring an additional 37,268 shares during the period. Hedge funds and other institutional investors own 95.91% of the company’s stock.

Insider Transactions at Perrigo

In related news, Director Katherine C. Doyle sold 8,954 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,009 shares of the company’s stock, valued at $164,045.70. This trade represents a 59.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

Perrigo Announces Dividend

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

About Perrigo

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.