Wall Street analysts predict that PerkinElmer, Inc. (NYSE:PKI) will announce earnings of $1.01 per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for PerkinElmer’s earnings, with the lowest EPS estimate coming in at $1.00 and the highest estimate coming in at $1.02. PerkinElmer reported earnings of $0.90 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The business is expected to issue its next earnings report after the market closes on Wednesday, October 30th.
According to Zacks, analysts expect that PerkinElmer will report full year earnings of $4.05 per share for the current fiscal year, with EPS estimates ranging from $4.02 to $4.08. For the next fiscal year, analysts anticipate that the business will report earnings of $4.60 per share, with EPS estimates ranging from $4.55 to $4.72. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). PerkinElmer had a return on equity of 16.07% and a net margin of 9.01%. The company had revenue of $722.50 million for the quarter, compared to the consensus estimate of $729.10 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year.
Several brokerages have recently weighed in on PKI. Raymond James began coverage on shares of PerkinElmer in a research report on Wednesday, July 10th. They set an “outperform” rating on the stock. Bank of America upgraded shares of PerkinElmer from a “neutral” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Thursday, September 26th. ValuEngine lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. UBS Group lifted their target price on shares of PerkinElmer from $99.00 to $101.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Wood & Company reiterated an “average” rating and set a $49.00 target price on shares of PerkinElmer in a research report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. PerkinElmer currently has an average rating of “Hold” and an average price target of $78.63.
In other PerkinElmer news, Director Alexis P. Michas sold 2,000 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $82.56, for a total value of $165,120.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. lifted its position in shares of PerkinElmer by 15.5% during the third quarter. Pacer Advisors Inc. now owns 14,785 shares of the medical research company’s stock worth $1,259,000 after purchasing an additional 1,987 shares in the last quarter. Bridger Capital Management LLC acquired a new position in shares of PerkinElmer during the second quarter worth approximately $777,000. River & Mercantile Asset Management LLP acquired a new position in shares of PerkinElmer during the second quarter worth approximately $335,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of PerkinElmer during the second quarter worth approximately $2,069,000. Finally, Toronto Dominion Bank lifted its position in shares of PerkinElmer by 37.7% during the second quarter. Toronto Dominion Bank now owns 78,552 shares of the medical research company’s stock worth $7,566,000 after purchasing an additional 21,507 shares in the last quarter. Hedge funds and other institutional investors own 95.20% of the company’s stock.
Shares of PerkinElmer stock traded up $2.00 during trading on Friday, hitting $82.50. 9,342 shares of the company’s stock traded hands, compared to its average volume of 671,657. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.89 and a quick ratio of 1.31. The firm’s fifty day moving average price is $83.91 and its 200 day moving average price is $90.16. PerkinElmer has a twelve month low of $71.83 and a twelve month high of $103.00. The company has a market cap of $8.79 billion, a PE ratio of 22.87, a PEG ratio of 1.46 and a beta of 1.29.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be given a $0.07 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.76%.
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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