$1.18 Billion in Sales Expected for Perrigo Company PLC (PRGO) This Quarter

Wall Street brokerages expect Perrigo Company PLC (NYSE:PRGO) to report $1.18 billion in sales for the current fiscal quarter, according to Zacks. Twelve analysts have made estimates for Perrigo’s earnings. The lowest sales estimate is $1.16 billion and the highest is $1.19 billion. Perrigo reported sales of $1.28 billion in the same quarter last year, which would suggest a negative year over year growth rate of 7.8%. The business is scheduled to report its next earnings results after the market closes on Wednesday, February 27th.

According to Zacks, analysts expect that Perrigo will report full-year sales of $4.72 billion for the current year, with estimates ranging from $4.69 billion to $4.73 billion. For the next year, analysts forecast that the firm will post sales of $4.77 billion, with estimates ranging from $4.58 billion to $4.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Perrigo.

Get Perrigo alerts:

A number of equities research analysts have recently commented on the company. Berenberg Bank downgraded Perrigo from a “buy” rating to a “hold” rating and cut their price objective for the company from $100.00 to $72.00 in a research report on Tuesday, November 13th. ValuEngine upgraded Perrigo from a “strong sell” rating to a “sell” rating in a research report on Friday, November 16th. Royal Bank of Canada set a $63.00 price objective on Perrigo and gave the company a “hold” rating in a research report on Friday, November 9th. Morgan Stanley cut their price objective on Perrigo from $77.00 to $67.00 and set a “hold” rating for the company in a research report on Tuesday, November 13th. Finally, Wells Fargo & Co set a $46.00 price objective on Perrigo and gave the company a “hold” rating in a research report on Sunday, December 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $77.36.

Shares of NYSE:PRGO traded up $0.35 on Monday, reaching $48.95. 1,054,954 shares of the company traded hands, compared to its average volume of 1,527,917. Perrigo has a fifty-two week low of $36.28 and a fifty-two week high of $90.72. The company has a market capitalization of $6.65 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 1.78 and a beta of 1.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.26 and a current ratio of 1.85.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Stockholders of record on Friday, March 1st will be issued a $0.19 dividend. The ex-dividend date is Thursday, February 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.55%. Perrigo’s payout ratio is currently 15.42%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRGO. Atlas Capital Advisors LLC purchased a new stake in shares of Perrigo in the fourth quarter valued at $26,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Perrigo by 3,574.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,430,805 shares of the company’s stock valued at $37,000 after purchasing an additional 1,391,870 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Perrigo by 822.2% in the fourth quarter. Advisor Group Inc. now owns 1,079 shares of the company’s stock valued at $41,000 after purchasing an additional 962 shares in the last quarter. Covington Capital Management purchased a new stake in shares of Perrigo in the fourth quarter valued at $46,000. Finally, Enlightenment Research LLC purchased a new stake in shares of Perrigo in the fourth quarter valued at $85,000. Institutional investors own 85.72% 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 worldwide. The company operates through Consumer Healthcare Americas, Consumer Healthcare International, and Prescription Pharmaceuticals segments.

Further Reading: What are municipal bonds?

Get a free copy of the Zacks research report on Perrigo (PRGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com