Premier (NASDAQ:PINC) Releases FY24 Earnings Guidance

Premier (NASDAQ:PINC) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.06 to $2.18 for the period, compared to the consensus estimate of $2.15. The company issued revenue guidance of $1.265 billion to $1.325 billion, compared to the consensus revenue estimate of $1.30 billion.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PINC shares. Piper Sandler decreased their price target on Premier from $24.00 to $22.00 and set a neutral rating for the company in a report on Wednesday. StockNews.com downgraded Premier from a buy rating to a hold rating in a report on Wednesday, February 7th. Leerink Partnrs reiterated a market perform rating on shares of Premier in a report on Monday, February 26th. Canaccord Genuity Group reiterated a hold rating and issued a $21.00 price objective (down previously from $27.00) on shares of Premier in a report on Wednesday. Finally, SVB Leerink initiated coverage on Premier in a report on Monday, February 26th. They issued a market perform rating and a $22.50 price objective on the stock. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $23.50.

Premier Stock Performance

PINC traded up $0.20 during trading on Wednesday, hitting $19.61. The stock had a trading volume of 3,444,158 shares, compared to its average volume of 1,573,575. The firm has a market capitalization of $2.35 billion, a P/E ratio of 14.11, a PEG ratio of 5.22 and a beta of 0.39. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.43. Premier has a twelve month low of $18.65 and a twelve month high of $28.30. The company’s 50-day moving average price is $21.15 and its 200 day moving average price is $21.22.

Premier (NASDAQ:PINC) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $334.75 million for the quarter, compared to analyst estimates of $338.55 million. Premier had a net margin of 12.71% and a return on equity of 11.60%. On average, equities research analysts forecast that Premier will post 1.95 EPS for the current fiscal year.

Premier Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.84 annualized dividend and a dividend yield of 4.28%. Premier’s dividend payout ratio is currently 60.43%.

About Premier

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.