Perrigo (NYSE:PRGO) Updates FY 2024 Earnings Guidance

Perrigo (NYSE:PRGO) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.500-2.650 for the period, compared to the consensus earnings per share estimate of 2.250. The company issued revenue guidance of $4.4 billion-$4.5 billion, compared to the consensus revenue estimate of $4.6 billion. Perrigo also updated its FY24 guidance to $2.50-2.65 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Canaccord Genuity Group reaffirmed a buy rating and issued a $42.00 target price on shares of Perrigo in a research report on Friday, April 12th. Piper Sandler dropped their target price on Perrigo from $36.00 to $35.00 and set an overweight rating for the company in a research report on Thursday, July 11th. Finally, StockNews.com downgraded Perrigo from a buy rating to a hold rating in a research report on Tuesday, July 23rd.

Perrigo Stock Down 2.1 %

Shares of Perrigo stock traded down $0.60 on Friday, reaching $27.58. 3,935,419 shares of the company were exchanged, compared to its average volume of 1,549,793. Perrigo has a 1-year low of $24.82 and a 1-year high of $40.28. The company has a market cap of $3.76 billion, a P/E ratio of -394.00 and a beta of 0.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.81 and a quick ratio of 1.08. The stock’s 50 day moving average price is $26.99 and its 200-day moving average price is $29.67.

Perrigo (NYSE:PRGO) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.05. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.13 billion. Perrigo had a positive return on equity of 6.96% and a negative net margin of 0.17%. The business’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, equities analysts forecast that Perrigo will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Friday, August 30th will be issued a $0.276 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Friday, August 30th. Perrigo’s dividend payout ratio (DPR) is -1,571.43%.

Insider Activity at Perrigo

In other news, EVP Svend Andersen acquired 1,000 shares of Perrigo stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the purchase, the executive vice president now owns 101,853 shares in the company, valued at $2,841,698.70. The acquisition was disclosed in a document filed 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.