FY2024 EPS Estimates for Perrigo Reduced by Zacks Research

Perrigo Company plc (NYSE:PRGO) – Stock analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Perrigo in a report issued on Wednesday, November 27th. Zacks Research analyst S. Ganoria now expects 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.

Perrigo (NYSE:PRGO) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The firm 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 7.38% and a negative net margin of 3.64%. Perrigo’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS.

A number of other brokerages have also issued reports on PRGO. StockNews.com raised Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Jefferies Financial Group reaffirmed 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 reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a report on Monday, September 30th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Perrigo Price Performance

Shares of PRGO stock opened at $28.54 on Monday. Perrigo has a twelve month low of $23.89 and a twelve month high of $34.60. The company has a market capitalization of $3.89 billion, a PE ratio of -24.39 and a beta of 0.48. The company has a current ratio of 2.56, a quick ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $26.06 and a 200-day simple moving average of $27.03.

Institutional Investors Weigh In On Perrigo

Several large investors have recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Perrigo in the 3rd quarter valued at about $56,000. KBC Group NV boosted its holdings in shares of Perrigo by 25.1% in the third quarter. KBC Group NV now owns 4,517 shares of the company’s stock valued at $118,000 after acquiring an additional 905 shares in the last quarter. Voisard Asset Management Group Inc. increased its stake in shares of Perrigo by 520.0% during the second quarter. Voisard Asset Management Group Inc. now owns 4,650 shares of the company’s stock valued at $119,000 after acquiring an additional 3,900 shares during the period. Atria Investments Inc bought a new stake in Perrigo during the third quarter worth approximately $208,000. Finally, CWM LLC lifted its position in Perrigo by 877.0% in the second quarter. CWM LLC now owns 8,197 shares of the company’s stock worth $210,000 after purchasing an additional 7,358 shares during the period. Institutional investors and hedge funds own 95.91% of the company’s stock.

Insider Buying and Selling

In related news, Director Katherine C. Doyle sold 8,954 shares of Perrigo stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now directly owns 6,009 shares in the company, 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. 0.70% of the stock is owned by company insiders.

Perrigo Announces Dividend

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

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.