Perrigo Company PLC (NYSE:PRGO) – Equities research analysts at Jefferies Financial Group cut their Q2 2019 earnings per share estimates for shares of Perrigo in a report released on Wednesday, May 15th. Jefferies Financial Group analyst D. Steinberg now anticipates that the company will post earnings per share of $0.85 for the quarter, down from their prior estimate of $1.03. Jefferies Financial Group also issued estimates for Perrigo’s Q3 2019 earnings at $0.82 EPS, FY2019 earnings at $3.90 EPS, FY2020 earnings at $4.31 EPS, FY2021 earnings at $4.67 EPS, FY2022 earnings at $4.95 EPS and FY2023 earnings at $5.17 EPS.

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

A number of other brokerages also recently commented on PRGO. ValuEngine downgraded shares of Perrigo from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Cantor Fitzgerald reissued a “buy” rating and set a $107.00 price objective on shares of Perrigo in a report on Wednesday, May 8th. Morgan Stanley dropped their price objective on shares of Perrigo from $67.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 26th. Wells Fargo & Co set a $47.00 price objective on shares of Perrigo and gave the company a “hold” rating in a report on Thursday, February 28th. Finally, SunTrust Banks dropped their price objective on shares of Perrigo to $46.00 and set a “hold” rating on the stock in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.64.

Shares of NYSE:PRGO opened at $49.70 on Thursday. The company has a market capitalization of $6.77 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.29. Perrigo has a 52 week low of $36.28 and a 52 week high of $80.66. The company has a quick ratio of 1.14, a current ratio of 1.64 and a debt-to-equity ratio of 0.48.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors 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 dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from Perrigo’s previous quarterly dividend of $0.19. Perrigo’s dividend payout ratio is 16.70%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Treasurer State of Michigan raised its position in shares of Perrigo by 0.6% during the 1st quarter. State Treasurer State of Michigan now owns 36,022 shares of the company’s stock worth $1,735,000 after purchasing an additional 200 shares during the last quarter. Mason Street Advisors LLC grew its stake in Perrigo by 1.2% during the 1st quarter. Mason Street Advisors LLC now owns 17,833 shares of the company’s stock valued at $859,000 after acquiring an additional 211 shares in the last quarter. LS Investment Advisors LLC grew its stake in shares of Perrigo by 5.9% in the 4th quarter. LS Investment Advisors LLC now owns 4,317 shares of the company’s stock valued at $167,000 after buying an additional 239 shares during the period. Utah Retirement Systems grew its stake in shares of Perrigo by 1.0% in the 1st quarter. Utah Retirement Systems now owns 24,069 shares of the company’s stock valued at $1,159,000 after buying an additional 246 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Perrigo by 40.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 865 shares of the company’s stock valued at $42,000 after buying an additional 251 shares during the period. Hedge funds and other institutional investors own 86.00% of the company’s stock.

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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Earnings History and Estimates for Perrigo (NYSE:PRGO)

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