Analysts expect PerkinElmer, Inc. (NYSE:PKI) to report earnings of $1.01 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for PerkinElmer’s earnings, with the lowest EPS estimate coming in at $1.00 and the highest estimate coming in at $1.02. PerkinElmer reported earnings per share of $0.90 in the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, October 30th.
On average, analysts expect that PerkinElmer will report full-year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $4.02 to $4.08. For the next financial year, analysts forecast that the firm will post earnings of $4.60 per share, with EPS estimates ranging from $4.55 to $4.72. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for PerkinElmer.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Monday, July 29th. The medical research company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The company had revenue of $722.50 million for the quarter, compared to analysts’ expectations of $729.10 million. During the same period in the previous year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis.
A number of research analysts have recently weighed in on PKI shares. UBS Group lifted their price objective on PerkinElmer from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Bank of America raised PerkinElmer from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Thursday, September 26th. Wood & Company reaffirmed an “average” rating and set a $49.00 price objective on shares of PerkinElmer in a research report on Friday, July 19th. Finally, Raymond James assumed coverage on PerkinElmer in a research report on Wednesday, July 10th. They set an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PerkinElmer currently has a consensus rating of “Hold” and a consensus price target of $78.63.
Shares of PKI stock traded up $2.00 during trading hours on Friday, reaching $82.50. 9,342 shares of the company traded hands, compared to its average volume of 671,657. PerkinElmer has a 12-month low of $71.83 and a 12-month high of $103.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.89 and a quick ratio of 1.31. The company has a market cap of $8.79 billion, a P/E ratio of 22.87, a P/E/G ratio of 1.46 and a beta of 1.29. The firm has a 50-day moving average price of $83.91 and a 200 day moving average price of $90.16.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Thursday, October 17th. PerkinElmer’s dividend payout ratio is currently 7.76%.
In other news, Director Alexis P. Michas sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $82.56, for a total transaction of $165,120.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in PerkinElmer by 3.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 7,150 shares of the medical research company’s stock valued at $689,000 after acquiring an additional 240 shares during the last quarter. Raymond James & Associates grew its position in PerkinElmer by 48.0% in the 1st quarter. Raymond James & Associates now owns 22,031 shares of the medical research company’s stock valued at $2,123,000 after acquiring an additional 7,141 shares during the last quarter. Great West Life Assurance Co. Can grew its position in PerkinElmer by 6.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 29,716 shares of the medical research company’s stock valued at $2,858,000 after acquiring an additional 1,851 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in PerkinElmer by 76.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,930 shares of the medical research company’s stock valued at $364,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Swiss National Bank grew its position in PerkinElmer by 2.8% in the 1st quarter. Swiss National Bank now owns 202,700 shares of the medical research company’s stock valued at $19,532,000 after acquiring an additional 5,600 shares during the last quarter. 95.20% of the stock is currently owned by hedge funds and other institutional investors.
PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.
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