Analysts forecast that PerkinElmer, Inc. (NYSE:PKI) will post $0.67 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have made estimates for PerkinElmer’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.68. PerkinElmer also posted earnings per share of $0.67 during the same quarter last year. The firm is expected to report its next earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that PerkinElmer will report full-year earnings of $2.86 per share for the current year, with EPS estimates ranging from $2.80 to $2.92. For the next fiscal year, analysts forecast that the firm will post earnings of $3.24 per share, with EPS estimates ranging from $3.06 to $3.60. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, May 4th. The medical research company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. PerkinElmer had a net margin of 10.24% and a return on equity of 13.97%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS.
A number of equities analysts recently weighed in on PKI shares. Evercore ISI reissued an “in-line” rating and set a $68.00 target price (up previously from $62.50) on shares of PerkinElmer in a research note on Thursday, June 22nd. Barclays PLC set a $55.00 target price on shares of PerkinElmer and gave the stock a “sell” rating in a research note on Saturday, May 6th. Cantor Fitzgerald reissued a “hold” rating and set a $65.00 target price on shares of PerkinElmer in a research note on Friday, May 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 price target on shares of PerkinElmer in a research note on Friday, May 5th. Finally, Janney Montgomery Scott raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a research note on Monday, March 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.14.
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In other news, insider Andrew Okun sold 4,358 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the transaction, the insider now owns 16,799 shares of the company’s stock, valued at approximately $1,091,935. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert F. Friel sold 25,100 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $60.00, for a total transaction of $1,506,000.00. Following the completion of the transaction, the insider now directly owns 597,071 shares in the company, valued at approximately $35,824,260. The disclosure for this sale can be found here. Insiders have sold a total of 170,923 shares of company stock worth $10,340,269 in the last ninety days. 2.20% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of PKI. Vanguard Group Inc. boosted its position in PerkinElmer by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,612,667 shares of the medical research company’s stock valued at $616,171,000 after buying an additional 184,749 shares in the last quarter. BlackRock Inc. boosted its position in PerkinElmer by 4,652.8% in the first quarter. BlackRock Inc. now owns 5,787,627 shares of the medical research company’s stock valued at $336,029,000 after buying an additional 5,665,854 shares in the last quarter. State Street Corp boosted its position in PerkinElmer by 2.2% in the first quarter. State Street Corp now owns 3,875,455 shares of the medical research company’s stock valued at $225,011,000 after buying an additional 82,817 shares in the last quarter. Primecap Management Co. CA boosted its position in PerkinElmer by 0.7% in the first quarter. Primecap Management Co. CA now owns 3,531,955 shares of the medical research company’s stock valued at $205,065,000 after buying an additional 25,825 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in PerkinElmer by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,435,172 shares of the medical research company’s stock valued at $199,447,000 after buying an additional 99,801 shares in the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.
PerkinElmer (NYSE PKI) traded down 0.22% during mid-day trading on Friday, hitting $69.37. 348,629 shares of the company were exchanged. The company’s 50-day moving average is $67.29 and its 200 day moving average is $59.63. The company has a market capitalization of $7.63 billion, a P/E ratio of 33.82 and a beta of 0.76. PerkinElmer has a 12-month low of $45.35 and a 12-month high of $70.16.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.40%. PerkinElmer’s dividend payout ratio (DPR) is presently 13.66%.
PerkinElmer Company Profile
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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