Equities research analysts expect PerkinElmer, Inc. (NYSE:PKI) to announce sales of $674.44 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for PerkinElmer’s earnings, with estimates ranging from $668.42 million to $676.60 million. PerkinElmer posted sales of $554.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.7%. The company is expected to announce its next earnings report after the market closes on Wednesday, October 31st.
According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.78 billion for the current financial year, with estimates ranging from $2.77 billion to $2.80 billion. For the next financial year, analysts anticipate that the company will report sales of $2.94 billion, with estimates ranging from $2.90 billion to $3.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last posted its earnings results on Wednesday, August 1st. The medical research company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.05. PerkinElmer had a return on equity of 14.25% and a net margin of 5.51%. The business had revenue of $703.55 million during the quarter, compared to the consensus estimate of $694.70 million. During the same period in the previous year, the business earned $0.67 EPS. The business’s quarterly revenue was up 28.6% on a year-over-year basis.
Several analysts have recently weighed in on PKI shares. Robert W. Baird reissued a “buy” rating and issued a $89.00 target price on shares of PerkinElmer in a report on Thursday, August 2nd. ValuEngine raised PerkinElmer from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Cleveland Research raised PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Thursday, August 30th. Barclays raised PerkinElmer from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $79.00 to $90.00 in a research note on Wednesday, September 5th. Finally, Deutsche Bank upped their price objective on PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a research note on Monday, September 10th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $86.21.
Shares of PerkinElmer stock traded up $2.27 on Monday, hitting $86.96. The stock had a trading volume of 700,991 shares, compared to its average volume of 629,198. PerkinElmer has a 52-week low of $69.21 and a 52-week high of $98.33. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.17 and a current ratio of 1.69. The company has a market capitalization of $10.77 billion, a P/E ratio of 29.99, a PEG ratio of 2.15 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.32%. The ex-dividend date is Thursday, October 18th. PerkinElmer’s dividend payout ratio is presently 9.66%.
In other news, CEO Robert F. Friel sold 2,709 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $80.00, for a total transaction of $216,720.00. Following the completion of the transaction, the chief executive officer now directly owns 575,366 shares of the company’s stock, valued at approximately $46,029,280. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joel S. Goldberg sold 34,608 shares of the stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $85.00, for a total value of $2,941,680.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,443 shares of company stock valued at $6,145,255. 2.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of PerkinElmer during the 3rd quarter worth approximately $107,000. Twin Tree Management LP grew its holdings in shares of PerkinElmer by 135.8% in the 2nd quarter. Twin Tree Management LP now owns 2,549 shares of the medical research company’s stock worth $187,000 after acquiring an additional 9,674 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of PerkinElmer in the 1st quarter worth approximately $203,000. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. acquired a new stake in shares of PerkinElmer in the 1st quarter worth approximately $204,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of PerkinElmer in the 2nd quarter worth approximately $249,000. 95.78% of the stock is owned by institutional investors and hedge funds.
PerkinElmer Company Profile
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.
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