Perrigo Company plc Declares Quarterly Dividend of $0.28 (NYSE:PRGO)

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Friday, November 1st,RTT News reports. Investors of record on Friday, November 29th will be given a dividend of 0.276 per share on Tuesday, December 17th. This represents a $1.10 annualized dividend and a yield of 3.83%. The ex-dividend date is Friday, November 29th.

Perrigo has raised its dividend by an average of 6.7% per year over the last three years and has increased its dividend every year for the last 22 years. Perrigo has a dividend payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Perrigo to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 35.7%.

Perrigo Stock Performance

NYSE:PRGO opened at $28.84 on Thursday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.77 and a current ratio of 2.56. Perrigo has a fifty-two week low of $23.89 and a fifty-two week high of $34.60. The business has a 50 day moving average price of $25.99 and a 200-day moving average price of $27.05. The firm has a market cap of $3.93 billion, a PE ratio of -24.65 and a beta of 0.48.

Perrigo (NYSE:PRGO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Perrigo had a negative net margin of 3.64% and a positive return on equity of 7.38%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. Equities research analysts predict that Perrigo will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Perrigo news, Director Katherine C. Doyle sold 8,954 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $27.30, for a total value of $244,444.20. Following the sale, the director now owns 6,009 shares in the company, valued at approximately $164,045.70. This represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

PRGO has been the topic of a number of recent analyst reports. StockNews.com upgraded Perrigo from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group reissued a “buy” rating and set a $42.00 price objective on shares of Perrigo in a research report on Monday, September 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $30.00 target price (down previously from $50.00) on shares of Perrigo in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Perrigo has an average rating of “Moderate Buy” and a consensus price target of $37.00.

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.