Perrigo Company plc (PRGO) Updates FY17 Earnings Guidance

Perrigo Company plc (PRGO) Updates FY17 Earnings Guidance

Perrigo Company plc (NYSE PRGO) opened at 67.92 on Wednesday. The stock’s 50 day moving average is $71.36 and its 200 day moving average is $76.79. The firm’s market cap is $9.74 billion. Perrigo Company plc has a 52 week low of $65.47 and a 52 week high of $111.00.

Perrigo Company plc (NYSE:PRGO) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.15-4.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.30. The company issued revenue guidance of $4.6-4.8 billion, compared to the consensus revenue estimate of $4.78 billion.

Perrigo Company plc (NYSE:PRGO) last announced its quarterly earnings data on Tuesday, May 30th. The company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.06. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. Perrigo Company plc had a negative net margin of 26.62% and a positive return on equity of 10.68%. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 earnings per share. Equities research analysts expect that Perrigo Company plc will post $4.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Friday, May 26th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, May 24th. Perrigo Company plc’s dividend payout ratio is presently -5.53%.

PRGO has been the topic of several analyst reports. Canaccord Genuity set a $86.00 price target on shares of Perrigo Company plc and gave the stock a buy rating in a research report on Saturday, March 18th. B. Riley reaffirmed a neutral rating and set a $67.00 price target on shares of Perrigo Company plc in a research report on Wednesday, March 8th. Royal Bank of Canada reaffirmed a hold rating and set a $68.00 price target on shares of Perrigo Company plc in a research report on Wednesday, May 3rd. Jefferies Group LLC set a $71.00 price target on shares of Perrigo Company plc and gave the stock a hold rating in a research report on Tuesday, February 28th. Finally, Guggenheim reaffirmed a buy rating and set a $125.00 price target on shares of Perrigo Company plc in a research report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. Perrigo Company plc has a consensus rating of Hold and an average target price of $89.26.

A hedge fund recently raised its stake in Perrigo Company plc stock. Dimensional Fund Advisors LP increased its stake in shares of Perrigo Company plc (NYSE:PRGO) by 11.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 312,302 shares of the company’s stock after buying an additional 32,828 shares during the period. Dimensional Fund Advisors LP owned about 0.22% of Perrigo Company plc worth $20,736,000 as of its most recent SEC filing. Institutional investors and hedge funds own 69.65% of the company’s stock.

About Perrigo Company plc

Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PRGO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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