PerkinElmer, Inc. (PKI) Expected to Announce Quarterly Sales of $644.45 Million

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Analysts forecast that PerkinElmer, Inc. (NYSE:PKI) will post sales of $644.45 million for the current quarter, Zacks reports. Six analysts have issued estimates for PerkinElmer’s earnings. The highest sales estimate is $646.46 million and the lowest is $642.86 million. PerkinElmer posted sales of $643.97 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The business is expected to report its next quarterly earnings report on Monday, April 29th.

According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.89 billion for the current financial year, with estimates ranging from $2.88 billion to $2.90 billion. For the next financial year, analysts anticipate that the business will post sales of $3.08 billion, with estimates ranging from $3.05 billion to $3.14 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, January 31st. The medical research company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.02. PerkinElmer had a return on equity of 15.89% and a net margin of 8.56%. The business had revenue of $756.35 million during the quarter, compared to analyst estimates of $746.15 million. During the same period in the previous year, the company posted $0.97 EPS.

A number of research analysts have recently issued reports on the company. UBS Group set a $92.00 price target on PerkinElmer and gave the company a “hold” rating in a report on Saturday, February 2nd. Piper Jaffray Companies lifted their price target on PerkinElmer to $104.00 and gave the company an “overweight” rating in a report on Friday, February 1st. Desjardins reiterated an “average” rating and issued a $45.00 price target on shares of PerkinElmer in a report on Wednesday, January 16th. CIBC reiterated an “average” rating and issued a $44.50 price target on shares of PerkinElmer in a report on Thursday, January 10th. Finally, Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of PerkinElmer in a report on Sunday, January 6th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $80.99.

Shares of NYSE:PKI opened at $94.04 on Thursday. PerkinElmer has a 12-month low of $70.83 and a 12-month high of $98.33. The firm has a market capitalization of $10.42 billion, a PE ratio of 26.05, a P/E/G ratio of 1.88 and a beta of 1.25. The company has a current ratio of 1.60, a quick ratio of 1.16 and a debt-to-equity ratio of 0.73.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.30%. PerkinElmer’s dividend payout ratio (DPR) is 7.76%.

In related news, Director Alexis P. Michas sold 2,118 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $92.96, for a total transaction of $196,889.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas A. Lopardo sold 1,600 shares of the business’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $92.67, for a total value of $148,272.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,984 shares of company stock worth $3,252,048. 2.10% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in PKI. Wells Fargo & Company MN grew its stake in PerkinElmer by 17.5% during the 3rd quarter. Wells Fargo & Company MN now owns 149,800 shares of the medical research company’s stock worth $14,572,000 after buying an additional 22,290 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in PerkinElmer during the 3rd quarter valued at about $409,000. ING Groep NV purchased a new stake in PerkinElmer during the 3rd quarter valued at about $264,000. SG Americas Securities LLC purchased a new stake in PerkinElmer during the 3rd quarter valued at about $1,463,000. Finally, Advisor Partners LLC purchased a new stake in PerkinElmer during the 3rd quarter valued at about $257,000. Hedge funds and other institutional investors own 95.34% 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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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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