Wall Street brokerages expect PerkinElmer, Inc. (NYSE:PKI) to report $615.81 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for PerkinElmer’s earnings, with the lowest sales estimate coming in at $614.56 million and the highest estimate coming in at $617.00 million. PerkinElmer posted sales of $514.12 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.8%. The firm is expected to issue its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that PerkinElmer will report full year sales of $615.81 million for the current year, with estimates ranging from $2.73 billion to $2.75 billion. For the next financial year, analysts forecast that the business will post sales of $2.89 billion per share, with estimates ranging from $2.88 billion to $2.91 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, January 25th. The medical research company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $641.63 million for the quarter, compared to analyst estimates of $619.14 million. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS.
Several research analysts recently weighed in on PKI shares. Morgan Stanley increased their target price on PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Evercore ISI started coverage on PerkinElmer in a research report on Wednesday, January 3rd. They issued an “in-line” rating and a $77.00 target price on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $88.00 target price on shares of PerkinElmer in a research report on Friday, January 26th. Cowen reaffirmed a “hold” rating and issued a $84.00 target price on shares of PerkinElmer in a research report on Friday, January 26th. Finally, Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. PerkinElmer currently has a consensus rating of “Hold” and an average price target of $76.85.
Shares of PerkinElmer (PKI) traded up $1.24 on Friday, hitting $75.46. The company had a trading volume of 560,731 shares, compared to its average volume of 766,923. The company has a quick ratio of 0.90, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The stock has a market cap of $8,320.00, a price-to-earnings ratio of 53.52, a P/E/G ratio of 1.72 and a beta of 0.76. PerkinElmer has a twelve month low of $53.97 and a twelve month high of $84.49.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 13th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend is Thursday, April 12th. PerkinElmer’s dividend payout ratio (DPR) is presently 19.86%.
In other PerkinElmer news, insider Andrew Okun sold 12,680 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $72.00, for a total value of $912,960.00. Following the transaction, the insider now directly owns 25,121 shares of the company’s stock, valued at $1,808,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frank Anders Wilson sold 37,535 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $70.14, for a total value of $2,632,704.90. The disclosure for this sale can be found here. Insiders sold 59,812 shares of company stock worth $4,263,863 over the last three months. 2.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in PKI. American Century Companies Inc. acquired a new stake in shares of PerkinElmer during the fourth quarter valued at about $61,260,000. Koch Industries Inc. acquired a new stake in shares of PerkinElmer during the second quarter valued at about $364,000. Assenagon Asset Management S.A. acquired a new stake in shares of PerkinElmer during the third quarter valued at about $23,168,000. Robecosam AG grew its stake in shares of PerkinElmer by 165.7% during the third quarter. Robecosam AG now owns 477,167 shares of the medical research company’s stock valued at $32,610,000 after acquiring an additional 297,595 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of PerkinElmer by 3.2% during the fourth quarter. BlackRock Inc. now owns 6,260,111 shares of the medical research company’s stock valued at $457,740,000 after acquiring an additional 195,851 shares in the last quarter. Institutional investors own 90.41% of the company’s stock.
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PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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