FY2024 EPS Estimates for Perrigo Cut by Zacks Research

Perrigo Company plc (NYSE:PRGO) – Stock analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Perrigo in a research note issued on Wednesday, November 27th. Zacks Research analyst S. Ganoria now anticipates that the company will earn $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 equities research analysts have also issued reports on the stock. StockNews.com raised shares of Perrigo from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 price target (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Perrigo Stock Performance

NYSE PRGO opened at $28.54 on Monday. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The firm has a market capitalization of $3.89 billion, a P/E ratio of -24.39 and a beta of 0.48. The stock has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $27.03. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56.

Perrigo (NYSE:PRGO) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share.

Perrigo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Investors 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 dividend on an annualized basis and a yield of 3.87%. Perrigo’s dividend payout ratio is currently -94.02%.

Insider Buying and Selling at Perrigo

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of Perrigo 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 sale, the director now owns 6,009 shares of the company’s stock, valued at approximately $164,045.70. The trade was a 59.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Perrigo by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,162,656 shares of the company’s stock worth $183,935,000 after buying an additional 249,640 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of Perrigo by 11.2% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,882,438 shares of the company’s stock worth $99,701,000 after acquiring an additional 391,646 shares during the period. Cooke & Bieler LP boosted its position in shares of Perrigo by 0.9% in the second quarter. Cooke & Bieler LP now owns 3,501,401 shares of the company’s stock worth $89,916,000 after acquiring an additional 30,150 shares during the last quarter. Wellington Management Group LLP grew its holdings in Perrigo by 229.2% in the third quarter. Wellington Management Group LLP now owns 2,697,698 shares of the company’s stock valued at $70,761,000 after purchasing an additional 1,878,145 shares during the period. Finally, Copeland Capital Management LLC increased its position in Perrigo by 23.1% during the third quarter. Copeland Capital Management LLC now owns 2,482,544 shares of the company’s stock worth $65,117,000 after purchasing an additional 465,161 shares during the last quarter. 95.91% of the stock is currently owned by hedge funds and other institutional investors.

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.