Analysts predict that PerkinElmer, Inc. (NYSE:PKI) will announce sales of $730.27 million for the current quarter, according to Zacks. Six analysts have made estimates for PerkinElmer’s earnings. The lowest sales estimate is $725.71 million and the highest is $732.96 million. PerkinElmer posted sales of $703.36 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.8%. The firm is expected to issue its next quarterly earnings results after the market closes on Monday, July 29th.
According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.92 billion for the current financial year, with estimates ranging from $2.88 billion to $2.93 billion. For the next financial year, analysts anticipate that the company will post sales of $3.12 billion, with estimates ranging from $3.06 billion to $3.15 billion. Zacks’ sales averages are an average based on a survey of research firms that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Thursday, April 25th. The medical research company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.03. The company had revenue of $648.70 million for the quarter, compared to analysts’ expectations of $645.38 million. PerkinElmer had a return on equity of 15.98% and a net margin of 8.89%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS.
Several research firms have issued reports on PKI. Zacks Investment Research raised Icon from a “hold” rating to a “buy” rating and set a $157.00 price objective on the stock in a report on Thursday, May 30th. Wolfe Research began coverage on shares of Waters in a research report on Thursday, May 30th. They set an “underperform” rating for the company. Goldman Sachs Group cut shares of TerraForm Power from a “neutral” rating to a “sell” rating and set a $12.00 target price for the company. in a research report on Tuesday, April 9th. They noted that the move was a valuation call. Royal Bank of Canada set a $60.00 target price on shares of Masonite International and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Raymond James upped their target price on shares of S&P Global from $226.00 to $246.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. PerkinElmer presently has a consensus rating of “Hold” and a consensus price target of $81.32.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC bought a new position in PerkinElmer during the 1st quarter worth about $25,000. Financial Gravity Wealth Inc. acquired a new position in shares of PerkinElmer during the 1st quarter worth about $52,000. Captrust Financial Advisors boosted its stake in shares of PerkinElmer by 163.9% during the 4th quarter. Captrust Financial Advisors now owns 673 shares of the medical research company’s stock worth $53,000 after buying an additional 418 shares during the last quarter. Signaturefd LLC boosted its stake in shares of PerkinElmer by 171.5% during the 1st quarter. Signaturefd LLC now owns 809 shares of the medical research company’s stock worth $78,000 after buying an additional 511 shares during the last quarter. Finally, Hilton Capital Management LLC acquired a new position in shares of PerkinElmer during the 1st quarter worth about $82,000. Institutional investors and hedge funds own 95.45% of the company’s stock.
NYSE:PKI traded down $0.65 during trading hours on Friday, hitting $95.18. 616,977 shares of the stock were exchanged, compared to its average volume of 667,598. The company’s 50 day moving average is $92.90. PerkinElmer has a twelve month low of $71.83 and a twelve month high of $103.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 1.17. The firm has a market capitalization of $10.63 billion, a P/E ratio of 26.37, a P/E/G ratio of 1.70 and a beta of 1.26.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Thursday, July 18th. PerkinElmer’s dividend payout ratio is currently 7.76%.
PerkinElmer Company Profile
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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