NEW YORK (TheStreet) --Perrigo Co. (PRGO) - Get Report stock is down by 8.76% to $132.34 in mid-morning trading on Thursday, after the company reported lower-than-expected 2015 fourth quarter results.
Before the market open today, the consumer goods and pharmaceutical company reported earnings of $1.80 per share, while Wall Street was expecting earnings of $1.93 per share. Revenue of $1.42 billion was slightly lower than analysts' forecasts for revenue of $1.46 billion.
Perrigo projected 2016 adjusted earnings to range between $9.50 per share to $9.80 per share, which is in-line with analysts' projections for full-year earnings of $9.74 per share.
Perrigo's Branded Consumer Healthcare division performed below the company's expectations during the quarter, Perrigo said in a statement.
"We have conducted a portfolio review, and are taking actions in BCH to exit slower growing or under-performing brands to reallocate these resources to higher growth products," CEO Joseph Papa said in a statement. "I am confident that these actions, when taken together, will result in improved operating performance and an acceleration of growth in the BCH segment."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a decline in the stock price during the past year, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: PRGO