PerkinElmer to Post Q1 2018 Earnings of $0.61 Per Share, Jefferies Group Forecasts (PKI)

PerkinElmer (NYSE:PKI) – Equities researchers at Jefferies Group boosted their Q1 2018 earnings per share (EPS) estimates for PerkinElmer in a research report issued on Monday, April 16th. Jefferies Group analyst B. Couillard now expects that the medical research company will post earnings of $0.61 per share for the quarter, up from their previous forecast of $0.60. Jefferies Group also issued estimates for PerkinElmer’s Q2 2018 earnings at $0.85 EPS and Q1 2019 earnings at $0.89 EPS.

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PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Thursday, January 25th. The medical research company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.03. PerkinElmer had a return on equity of 13.30% and a net margin of 12.97%. The business had revenue of $641.63 million for the quarter, compared to analysts’ expectations of $619.14 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis.

Several other research firms have also recently weighed in on PKI. Robert W. Baird reissued a “buy” rating and issued a $88.00 price objective on shares of PerkinElmer in a research report on Friday, January 26th. Barclays boosted their target price on PerkinElmer from $69.00 to $73.00 and gave the company an “underweight” rating in a research note on Friday, January 26th. Cowen restated a “hold” rating and issued a $84.00 target price on shares of PerkinElmer in a research note on Friday, January 26th. Zacks Investment Research lowered PerkinElmer from a “buy” rating to a “hold” rating in a research note on Tuesday, March 20th. Finally, Evercore ISI began coverage on PerkinElmer in a research note on Wednesday, January 3rd. They issued an “in-line” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $77.57.

PKI stock opened at $76.40 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.89 and a current ratio of 1.26. PerkinElmer has a 1-year low of $56.21 and a 1-year high of $84.49. The firm has a market capitalization of $8,328.71, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.76 and a beta of 0.81.

Several large investors have recently added to or reduced their stakes in PKI. American Century Companies Inc. bought a new stake in shares of PerkinElmer during the 4th quarter valued at $61,260,000. BlackRock Inc. raised its stake in shares of PerkinElmer by 3.2% during the 4th quarter. BlackRock Inc. now owns 6,260,111 shares of the medical research company’s stock valued at $457,740,000 after purchasing an additional 195,851 shares during the period. Sensato Investors LLC bought a new stake in shares of PerkinElmer during the 4th quarter valued at $12,420,000. AXA bought a new stake in shares of PerkinElmer during the 4th quarter valued at $10,712,000. Finally, Amundi Pioneer Asset Management Inc. bought a new position in PerkinElmer in the 4th quarter worth about $9,142,000. Institutional investors own 91.93% of the company’s stock.

In related news, insider Andrew Okun sold 2,324 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $75.44, for a total transaction of $175,322.56. Following the sale, the insider now directly owns 8,876 shares in the company, valued at approximately $669,605.44. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Frank Anders Wilson sold 103,656 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $73.94, for a total value of $7,664,324.64. Following the sale, the insider now owns 93,624 shares in the company, valued at $6,922,558.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,253 shares of company stock worth $8,016,623. 2.10% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Investors of record on Friday, April 13th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.37%. PerkinElmer’s payout ratio is 9.66%.

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About PerkinElmer

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.

Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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