Perrigo (NYSE:PRGO – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81, Briefing.com reports. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a positive return on equity of 6.79% and a negative net margin of 2.81%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Perrigo updated its FY 2024 guidance to 2.500-2.650 EPS and its FY24 guidance to $2.50 to $2.65 EPS.
Perrigo Price Performance
PRGO stock traded down $0.09 during trading on Thursday, hitting $27.22. The stock had a trading volume of 790,599 shares, compared to its average volume of 1,620,659. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of -29.72 and a beta of 0.48. The company’s 50 day moving average price is $26.23 and its two-hundred day moving average price is $27.53. Perrigo has a 1-year low of $23.89 and a 1-year high of $34.60. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.99.
Perrigo Dividend Announcement
The firm also recently disclosed 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 of this dividend is Friday, November 29th. This represents a $1.10 dividend on an annualized basis and a yield of 4.06%. Perrigo’s payout ratio is -119.57%.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several research firms have recently commented on PRGO. StockNews.com lowered shares of Perrigo from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Canaccord Genuity Group restated a “buy” rating and issued a $42.00 price target on shares of Perrigo in a research report on Monday, September 30th. Piper Sandler decreased their price objective on Perrigo from $36.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 price target (down from $50.00) on shares of Perrigo in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.00.
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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.
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