Perrigo (NYSE:PRGO) Issues FY24 Earnings Guidance

Perrigo (NYSE:PRGO) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.50-2.65 for the period, compared to the consensus estimate of $2.58. The company issued revenue guidance of down 3-5% yr/yr to ~$4.42-4.52 billion, compared to the consensus revenue estimate of $4.60 billion.

Perrigo Stock Down 0.3 %

Shares of PRGO opened at $28.18 on Friday. The stock has a 50 day moving average price of $27.00 and a 200 day moving average price of $29.71. Perrigo has a one year low of $24.82 and a one year high of $40.28. The company has a current ratio of 1.81, a quick ratio of 1.08 and a debt-to-equity ratio of 0.77.

Perrigo (NYSE:PRGO) last issued its earnings results on Friday, August 2nd. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Perrigo had a negative net margin of 0.17% and a positive return on equity of 6.96%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. As a group, analysts forecast that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.276 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.92%. Perrigo’s dividend payout ratio (DPR) is currently -1,571.43%.

Analyst Upgrades and Downgrades

PRGO has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of Perrigo from $36.00 to $35.00 and set an overweight rating on the stock in a research report on Thursday, July 11th. StockNews.com cut shares of Perrigo from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity Group reiterated a buy rating and issued a $42.00 price objective on shares of Perrigo in a report on Friday, April 12th.

Insider Buying and Selling at Perrigo

In related news, EVP Svend Andersen acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $27.90 per share, with a total value of $27,900.00. Following the transaction, the executive vice president now owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.70% of the stock is currently owned by corporate insiders.

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.