Premier (NASDAQ:PINC) Releases FY 2024 Earnings Guidance

Premier (NASDAQ:PINC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.060-2.180 for the period, compared to the consensus estimate of 2.150. The company issued revenue guidance of $1.3 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PINC shares. Leerink Partnrs reaffirmed a market perform rating on shares of Premier in a report on Monday, February 26th. Robert W. Baird decreased their price target on Premier from $25.00 to $22.00 and set a neutral rating on the stock in a research note on Wednesday. StockNews.com cut Premier from a buy rating to a hold rating in a research report on Wednesday, February 7th. Canaccord Genuity Group lowered shares of Premier from a buy rating to a hold rating and decreased their target price for the stock from $27.00 to $21.00 in a research report on Wednesday. Finally, SVB Leerink initiated coverage on shares of Premier in a research note on Monday, February 26th. They issued a market perform rating and a $22.50 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $23.77.

Premier Trading Up 0.5 %

Shares of PINC traded up $0.10 during mid-day trading on Wednesday, reaching $19.51. The company had a trading volume of 926,306 shares, compared to its average volume of 1,544,058. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 5.22 and a beta of 0.39. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The firm has a fifty day simple moving average of $21.15 and a 200-day simple moving average of $21.22. Premier has a fifty-two week low of $18.65 and a fifty-two week high of $28.30.

Premier (NASDAQ:PINC) last released its quarterly earnings data on Monday, February 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Premier had a return on equity of 11.60% and a net margin of 12.71%. The company had revenue of $334.75 million for the quarter, compared to the consensus estimate of $338.55 million. On average, sell-side analysts anticipate that Premier will post 1.95 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 4.31%. Premier’s payout ratio is 60.43%.

Premier Company Profile

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. It operates in two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with an access to a range of products and services, including medical and surgical products, pharmaceuticals, laboratory supplies, capital equipment, information technology, facilities and construction, and food and nutritional products, as well as purchased services, such as clinical engineering and workforce solutions.