Equities analysts expect Perrigo Company (NYSE:PRGO) to report $1.17 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have provided estimates for Perrigo’s earnings, with the highest sales estimate coming in at $1.21 billion and the lowest estimate coming in at $1.15 billion. Perrigo posted sales of $1.35 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 13.3%. The business is scheduled to report its next quarterly earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Perrigo will report full-year sales of $1.17 billion for the current year, with estimates ranging from $4.74 billion to $4.85 billion. For the next year, analysts forecast that the business will post sales of $4.95 billion per share, with estimates ranging from $4.82 billion to $5.06 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Perrigo.
Perrigo (NYSE:PRGO) last posted its quarterly earnings data on Thursday, August 10th. The company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.28. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Perrigo had a negative net margin of 51.04% and a positive return on equity of 11.55%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.93 EPS.
A number of equities research analysts recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and set a $98.00 price target (up previously from $84.00) on shares of Perrigo in a research note on Thursday, October 5th. Oppenheimer Holdings, Inc. assumed coverage on shares of Perrigo in a research note on Monday, October 2nd. They set a “buy” rating and a $88.00 price target on the stock. BidaskClub raised shares of Perrigo from a “sell” rating to a “hold” rating in a research note on Saturday, September 16th. Deutsche Bank AG upped their price target on shares of Perrigo from $88.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $64.00 price target on shares of Perrigo in a research note on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $88.50.
ILLEGAL ACTIVITY WARNING: “Brokerages Expect Perrigo Company (PRGO) Will Post Quarterly Sales of $1.17 Billion” was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this report on another site, it was stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this report can be viewed at https://stocknewstimes.com/2017/10/17/brokerages-expect-perrigo-company-prgo-will-post-quarterly-sales-of-1-17-billion.html.
Shares of Perrigo (PRGO) opened at 87.04 on Tuesday. The stock’s 50 day moving average is $84.49 and its 200 day moving average is $75.53. The stock’s market cap is $12.41 billion. Perrigo has a 52-week low of $63.68 and a 52-week high of $92.64.
In other news, EVP Thomas Farrington sold 865 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $78.40, for a total value of $67,816.00. Following the sale, the executive vice president now owns 2,870 shares of the company’s stock, valued at $225,008. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Sharon Kochan sold 318 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $81.36, for a total transaction of $25,872.48. Following the completion of the sale, the executive vice president now directly owns 10,231 shares in the company, valued at approximately $832,394.16. The disclosure for this sale can be found here. In the last three months, insiders sold 6,894 shares of company stock worth $581,320. Insiders own 6.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of PRGO. OppenheimerFunds Inc. increased its stake in Perrigo by 28.9% in the 1st quarter. OppenheimerFunds Inc. now owns 10,003 shares of the company’s stock worth $664,000 after buying an additional 2,244 shares during the period. Principal Financial Group Inc. increased its stake in Perrigo by 1.5% in the 1st quarter. Principal Financial Group Inc. now owns 218,579 shares of the company’s stock worth $14,512,000 after buying an additional 3,173 shares during the period. Teachers Advisors LLC increased its stake in Perrigo by 5.5% in the 1st quarter. Teachers Advisors LLC now owns 184,705 shares of the company’s stock worth $12,263,000 after buying an additional 9,615 shares during the period. Global X Management Co. LLC increased its stake in Perrigo by 56.4% in the 1st quarter. Global X Management Co. LLC now owns 2,370 shares of the company’s stock worth $157,000 after buying an additional 855 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Perrigo by 11.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 312,302 shares of the company’s stock worth $20,736,000 after buying an additional 32,828 shares during the period. 82.44% of the stock is currently owned by institutional investors.
Perrigo Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Perrigo Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perrigo Company and related companies with MarketBeat.com's FREE daily email newsletter.