Perrigo (NYSE:PRGO) Issues FY24 Earnings Guidance

Perrigo (NYSE:PRGO) issued an update on its FY24 earnings guidance on Friday morning. 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 also updated its FY 2024 guidance to 2.500-2.650 EPS.

Perrigo Stock Down 2.1 %

PRGO opened at $27.58 on Friday. Perrigo has a twelve month low of $24.82 and a twelve month high of $40.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.08 and a current ratio of 1.81. The business has a 50 day moving average price of $26.99 and a 200 day moving average price of $29.65. The firm has a market cap of $3.76 billion, a P/E ratio of -394.00 and a beta of 0.51.

Perrigo (NYSE:PRGO) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.05. The company had revenue of $1.07 billion for 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 firm’s revenue was down 10.7% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Research analysts forecast that Perrigo will post 2.56 EPS for the current year.

Perrigo Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity

In other Perrigo news, EVP Svend Andersen acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $27.90 per share, for a total transaction of $27,900.00. Following the completion of the acquisition, the executive vice president now directly owns 101,853 shares of the company’s stock, valued at approximately $2,841,698.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by 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.