Zacks: Brokerages Anticipate Premier Inc (PINC) Will Post Earnings of $0.61 Per Share

Analysts expect that Premier Inc (NASDAQ:PINC) will announce earnings of $0.61 per share for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for Premier’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.64. Premier reported earnings of $0.44 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 38.6%. The company is expected to issue its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that Premier will report full year earnings of $2.69 per share for the current fiscal year, with EPS estimates ranging from $2.65 to $2.77. For the next fiscal year, analysts forecast that the business will report earnings of $2.90 per share, with EPS estimates ranging from $2.80 to $3.00. Zacks’ EPS averages are an average based on a survey of research firms that follow Premier.

Premier (NASDAQ:PINC) last posted its quarterly earnings data on Tuesday, August 21st. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.04. The business had revenue of $433.96 million for the quarter, compared to analyst estimates of $412.24 million. Premier had a negative return on equity of 25.18% and a net margin of 47.84%. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share.

PINC has been the topic of a number of analyst reports. Piper Jaffray Companies increased their price objective on Premier from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, August 21st. Raymond James increased their price objective on Premier from $37.00 to $49.00 and gave the company an “in-line” rating in a research note on Wednesday, August 22nd. SunTrust Banks lowered Premier from a “buy” rating to a “hold” rating and set a $38.00 price objective on the stock. in a research note on Wednesday, August 22nd. They noted that the move was a valuation call. Zacks Investment Research lowered Premier from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. Finally, Oppenheimer increased their price objective on Premier to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.63.

Shares of PINC traded up $0.65 during trading hours on Friday, reaching $44.39. 13,728 shares of the company traded hands, compared to its average volume of 506,097. The firm has a market cap of $5.78 billion, a P/E ratio of 62.97, a PEG ratio of 1.48 and a beta of 0.54. Premier has a fifty-two week low of $27.16 and a fifty-two week high of $45.31.

In other Premier news, CFO Craig S. Mckasson sold 6,250 shares of the firm’s stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $43.09, for a total value of $269,312.50. Following the sale, the chief financial officer now directly owns 90,184 shares of the company’s stock, valued at approximately $3,886,028.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leigh Anderson sold 1,923 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $43.26, for a total value of $83,188.98. Following the completion of the sale, the insider now directly owns 20,076 shares in the company, valued at $868,487.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,446 shares of company stock worth $583,655. 17.52% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of PINC. Fort L.P. acquired a new position in shares of Premier in the 2nd quarter valued at about $123,000. Ostrum Asset Management acquired a new position in shares of Premier in the 1st quarter valued at about $129,000. Flinton Capital Management LLC acquired a new position in shares of Premier in the 1st quarter valued at about $133,000. Financial Gravity Wealth Inc. acquired a new position in shares of Premier in the 1st quarter valued at about $151,000. Finally, Riverhead Capital Management LLC acquired a new position in shares of Premier in the 1st quarter valued at about $149,000. 42.41% of the stock is currently owned by hedge funds and other institutional investors.

About Premier

Premier, Inc, together with its subsidiaries, operates as a healthcare improvement company in the United States. The company operates through two segments, Supply Chain Services and Performance Services. The Supply Chain Services segment offers its members with 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 document shredding services and software-as-a-service informatics products.

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