PerkinElmer, Inc. (NYSE:PKI) – Cantor Fitzgerald issued their FY2018 earnings per share (EPS) estimates for shares of PerkinElmer in a research report issued to clients and investors on Friday. Cantor Fitzgerald analyst B. Brokmeier anticipates that the medical research company will post earnings of $3.30 per share for the year. Cantor Fitzgerald currently has a “Neutral” rating on the stock.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The business had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. PerkinElmer had a net margin of 10.24% and a return on equity of 13.97%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 EPS. WARNING: This piece was reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.thestockobserver.com/2017/07/18/cantor-fitzgerald-comments-on-perkinelmer-inc-s-fy2018-earnings-pki-updated-updated.html.
Other equities research analysts also recently issued reports about the company. BidaskClub downgraded PerkinElmer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Citigroup Inc. increased their price objective on PerkinElmer from $57.00 to $67.00 and gave the company a “buy” rating in a report on Friday, April 7th. Janney Montgomery Scott raised PerkinElmer from a “neutral” rating to a “buy” rating in a report on Monday, March 27th. Zacks Investment Research raised PerkinElmer from a “sell” rating to a “hold” rating in a report on Friday, March 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $49.00 price target on shares of PerkinElmer in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $60.92.
PerkinElmer (NYSE:PKI) traded up 1.26% during trading on Monday, hitting $68.40. 62,912 shares of the stock traded hands. The stock has a market cap of $7.53 billion, a P/E ratio of 33.35 and a beta of 0.73. PerkinElmer has a 12 month low of $45.35 and a 12 month high of $68.91. The firm’s 50-day moving average is $63.10 and its 200-day moving average is $57.03.
A number of large investors have recently added to or reduced their stakes in PKI. Cigna Investments Inc. New acquired a new stake in PerkinElmer during the fourth quarter worth approximately $208,000. Horizon Kinetics LLC acquired a new stake in PerkinElmer during the fourth quarter worth approximately $297,000. Public Sector Pension Investment Board increased its stake in PerkinElmer by 0.4% in the fourth quarter. Public Sector Pension Investment Board now owns 24,092 shares of the medical research company’s stock worth $1,256,000 after buying an additional 100 shares during the period. Tyers Asset Management LLC acquired a new stake in PerkinElmer during the fourth quarter worth approximately $302,000. Finally, Menta Capital LLC acquired a new stake in PerkinElmer during the fourth quarter worth approximately $629,000. 92.70% of the stock is owned by institutional investors.
In other PerkinElmer news, Director Peter Barrett sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $63.22, for a total value of $632,200.00. Following the completion of the sale, the director now owns 29,200 shares of the company’s stock, valued at $1,846,024. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew Okun sold 4,358 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the completion of the sale, the insider now directly owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The disclosure for this sale can be found here. In the last three months, insiders sold 170,923 shares of company stock valued at $10,340,269. 2.20% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 21st will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Wednesday, July 19th. PerkinElmer’s dividend payout ratio (DPR) is currently 13.66%.
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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