Equities research analysts predict that PerkinElmer, Inc. (NYSE:PKI) will post $746.15 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for PerkinElmer’s earnings, with estimates ranging from $742.60 million to $750.00 million. PerkinElmer posted sales of $641.63 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.3%. The business is expected to issue its next earnings results after the market closes on Thursday, January 31st.
According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.77 billion for the current financial year, with estimates ranging from $2.77 billion to $2.79 billion. For the next fiscal year, analysts expect that the business will post sales of $2.92 billion, with estimates ranging from $2.88 billion to $2.95 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $674.30 million for the quarter, compared to the consensus estimate of $676.72 million. PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 EPS.
Several equities analysts have recently commented on PKI shares. Morgan Stanley lowered their price target on shares of PerkinElmer from $100.00 to $86.00 and set an “overweight” rating for the company in a research report on Thursday, January 3rd. CIBC reiterated an “average” rating and issued a $44.50 target price on shares of PerkinElmer in a research report on Thursday. UBS Group began coverage on shares of PerkinElmer in a research report on Tuesday, October 9th. They issued a “neutral” rating and a $100.00 target price for the company. Cowen reiterated a “hold” rating and issued a $85.00 target price on shares of PerkinElmer in a research report on Sunday, January 6th. Finally, Janney Montgomery Scott lowered shares of PerkinElmer from a “buy” rating to a “neutral” rating in a research report on Friday, November 2nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $82.90.
In other PerkinElmer news, Director Patrick J. Sullivan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of $81.64, for a total value of $816,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $90.95, for a total transaction of $454,750.00. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $1,609,550 over the last three months. 2.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors lifted its holdings in PerkinElmer by 1.6% in the 3rd quarter. Capital Research Global Investors now owns 12,159,571 shares of the medical research company’s stock valued at $1,182,761,000 after acquiring an additional 191,388 shares during the last quarter. Vanguard Group Inc lifted its holdings in PerkinElmer by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 11,628,380 shares of the medical research company’s stock valued at $1,131,092,000 after acquiring an additional 198,673 shares during the last quarter. Select Equity Group L.P. lifted its holdings in PerkinElmer by 7.2% in the 2nd quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock valued at $631,754,000 after acquiring an additional 578,940 shares during the last quarter. BlackRock Inc. lifted its holdings in PerkinElmer by 7.6% in the 3rd quarter. BlackRock Inc. now owns 6,518,826 shares of the medical research company’s stock valued at $634,084,000 after acquiring an additional 463,251 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in PerkinElmer by 4.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,413,223 shares of the medical research company’s stock valued at $332,004,000 after acquiring an additional 144,602 shares during the last quarter. 94.83% of the stock is owned by institutional investors.
Shares of PerkinElmer stock traded up $0.95 during trading on Friday, hitting $83.51. 927,700 shares of the stock were exchanged, compared to its average volume of 663,813. The firm has a market capitalization of $8.99 billion, a P/E ratio of 28.80, a P/E/G ratio of 1.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.18 and a current ratio of 1.70. PerkinElmer has a 12 month low of $70.74 and a 12 month high of $98.33.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. PerkinElmer’s dividend payout ratio is presently 9.66%.
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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