Zacks: Brokerages Expect PerkinElmer, Inc. (PKI) Will Announce Quarterly Sales of $759.31 Million

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Equities analysts predict that PerkinElmer, Inc. (NYSE:PKI) will report $759.31 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for PerkinElmer’s earnings, with the highest sales estimate coming in at $771.00 million and the lowest estimate coming in at $753.55 million. PerkinElmer posted sales of $641.63 million during the same quarter last year, which suggests a positive year over year growth rate of 18.3%. The business is expected to report its next quarterly earnings results on Thursday, January 24th.

According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.78 billion for the current fiscal year, with estimates ranging from $2.77 billion to $2.80 billion. For the next year, analysts expect that the firm will post sales of $2.94 billion, with estimates ranging from $2.90 billion to $3.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.02). PerkinElmer had a return on equity of 14.25% and a net margin of 5.51%. The business had revenue of $674.30 million for the quarter, compared to analyst estimates of $676.72 million. During the same quarter in the previous year, the business posted $0.73 earnings per share. The company’s revenue was up 21.7% compared to the same quarter last year.

A number of brokerages have commented on PKI. Barclays raised their price objective on PerkinElmer from $73.00 to $79.00 and gave the stock an “underweight” rating in a research report on Thursday, August 2nd. UBS Group began coverage on PerkinElmer in a research report on Tuesday, October 9th. They set a “neutral” rating and a $100.00 price objective for the company. Deutsche Bank raised their price objective on PerkinElmer from $88.00 to $93.00 and gave the stock a “hold” rating in a research report on Monday, September 10th. Robert W. Baird restated a “buy” rating and set a $89.00 price objective on shares of PerkinElmer in a research report on Thursday, August 2nd. Finally, ValuEngine upgraded PerkinElmer from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. PerkinElmer currently has an average rating of “Hold” and a consensus target price of $87.84.

NYSE PKI traded down $4.68 during trading on Thursday, reaching $81.80. 2,929,400 shares of the company’s stock were exchanged, compared to its average volume of 646,796. PerkinElmer has a fifty-two week low of $69.21 and a fifty-two week high of $98.33. The firm has a market capitalization of $9.49 billion, a PE ratio of 27.94, a PEG ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. PerkinElmer’s dividend payout ratio is 9.66%.

In other news, insider Deborah A. Butters sold 3,266 shares of PerkinElmer stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $97.70, for a total transaction of $319,088.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel R. Tereau sold 3,308 shares of PerkinElmer stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $96.58, for a total value of $319,486.64. Following the sale, the insider now owns 10,092 shares of the company’s stock, valued at $974,685.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,126 shares of company stock valued at $2,986,855. 2.10% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of PerkinElmer during the 3rd quarter valued at about $107,000. Conning Inc. acquired a new stake in shares of PerkinElmer during the 3rd quarter valued at about $212,000. Leavell Investment Management Inc. acquired a new stake in shares of PerkinElmer during the 3rd quarter valued at about $224,000. Twin Tree Management LP lifted its holdings in shares of PerkinElmer by 135.8% during the 2nd quarter. Twin Tree Management LP now owns 2,549 shares of the medical research company’s stock valued at $187,000 after buying an additional 9,674 shares during the last quarter. Finally, Pillar Pacific Capital Management LLC acquired a new stake in shares of PerkinElmer during the 3rd quarter valued at about $263,000. Institutional investors and hedge funds own 95.45% 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 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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