Premier (NASDAQ:PINC) Updates 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.

Premier Price Performance

NASDAQ PINC traded down $1.25 on Tuesday, hitting $19.47. 2,591,545 shares of the company were exchanged, compared to its average volume of 1,533,646. The company has a current ratio of 1.43, a quick ratio of 1.32 and a debt-to-equity ratio of 0.02. The company has a market cap of $2.33 billion, a P/E ratio of 14.91, a P/E/G ratio of 5.22 and a beta of 0.39. Premier has a 1-year low of $18.89 and a 1-year high of $28.30. The firm has a 50 day moving average of $21.19 and a two-hundred day moving average of $21.22.

Premier (NASDAQ:PINC) last announced its 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 company 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 analysts predict that Premier will post 1.95 EPS for the current year.

Premier Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 4.31%. Premier’s payout ratio is 60.43%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com lowered Premier from a buy rating to a hold rating in a research note on Wednesday, February 7th. SVB Leerink started coverage on shares of Premier in a research note on Monday, February 26th. They issued a market perform rating and a $22.50 price objective on the stock. Finally, Leerink Partnrs reissued a market perform rating on shares of Premier in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Premier has an average rating of Hold and an average price target of $25.15.

Premier Company Profile

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.