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

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Friday, November 1st,RTT News reports. Shareholders of record on Friday, November 29th will be paid 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 of this dividend is Friday, November 29th.

Perrigo has raised its dividend payment by an average of 6.7% per year over the last three years and has raised its dividend every year for the last 22 years. Perrigo has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE PRGO opened at $28.84 on Thursday. The company has a 50 day moving average of $25.99 and a 200 day moving average of $27.05. The company has a quick ratio of 1.77, a current ratio of 2.56 and a debt-to-equity ratio of 0.94. Perrigo has a twelve month low of $23.89 and a twelve month high of $34.60. The firm has a market cap of $3.93 billion, a P/E 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. Perrigo had a positive return on equity of 7.38% and a negative net margin of 3.64%. The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts expect that Perrigo will post 2.56 EPS for the current fiscal year.

Insider Activity at Perrigo

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

Wall Street Analysts Forecast Growth

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

About Perrigo

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.