Analysts expect that PerkinElmer, Inc. (NYSE:PKI) will announce earnings of $0.86 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for PerkinElmer’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.89. PerkinElmer reported earnings of $0.67 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.4%. The company is expected to issue its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that PerkinElmer will report full year earnings of $3.61 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.65. For the next fiscal year, analysts forecast that the business will report earnings of $4.03 per share, with EPS estimates ranging from $3.92 to $4.17. Zacks’ EPS averages are an average based on a survey of research firms that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, April 30th. The medical research company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. PerkinElmer had a return on equity of 13.26% and a net margin of 11.73%. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $618.97 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 0 on a year-over-year basis.
PKI has been the topic of several research reports. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Thursday, May 17th. ValuEngine upgraded PerkinElmer from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Janney Montgomery Scott cut their price target on PerkinElmer from $92.00 to $73.36 and set a “fair value” rating for the company in a research note on Tuesday, May 1st. Bank of America cut their price target on PerkinElmer from $86.00 to $83.00 and set a “hold” rating for the company in a research note on Tuesday, May 1st. Finally, Deutsche Bank cut their price target on PerkinElmer from $85.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 9th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $78.38.
Shares of PerkinElmer stock traded up $0.84 on Friday, hitting $73.23. The stock had a trading volume of 580,686 shares, compared to its average volume of 533,315. PerkinElmer has a twelve month low of $62.43 and a twelve month high of $84.49. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.68 and a beta of 0.83.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 20th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, July 19th. PerkinElmer’s payout ratio is presently 9.66%.
In other PerkinElmer news, insider Daniel R. Tereau sold 1,156 shares of the company’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $77.00, for a total transaction of $89,012.00. Following the completion of the sale, the insider now directly owns 6,784 shares in the company, valued at $522,368. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas A. Lopardo sold 4,000 shares of the company’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $74.92, for a total value of $299,680.00. The disclosure for this sale can be found here. 2.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKI. Select Equity Group L.P. lifted its stake in PerkinElmer by 12.2% during the first quarter. Select Equity Group L.P. now owns 8,048,037 shares of the medical research company’s stock worth $609,397,000 after purchasing an additional 876,923 shares during the last quarter. BlackRock Inc. increased its holdings 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 worth $457,740,000 after buying an additional 195,851 shares in the last quarter. Sensato Investors LLC acquired a new position in shares of PerkinElmer during the fourth quarter worth $12,420,000. Allianz Asset Management GmbH increased its holdings in shares of PerkinElmer by 59.3% during the first quarter. Allianz Asset Management GmbH now owns 405,729 shares of the medical research company’s stock worth $30,722,000 after buying an additional 151,013 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of PerkinElmer by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,191,284 shares of the medical research company’s stock worth $241,644,000 after buying an additional 148,944 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
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 develops and 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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