Brokerages forecast that PerkinElmer, Inc. (NYSE:PKI) will report earnings of $0.94 per share for the current fiscal quarter, according to Zacks. Six analysts have made estimates for PerkinElmer’s earnings, with estimates ranging from $0.92 to $0.95. PerkinElmer reported earnings of $0.83 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The company is expected to report its next earnings results on Thursday, February 1st.
On average, analysts expect that PerkinElmer will report full year earnings of $2.89 per share for the current year, with EPS estimates ranging from $2.87 to $2.92. For the next year, analysts expect that the firm will report earnings of $3.16 per share, with EPS estimates ranging from $3.13 to $3.20. Zacks’ EPS calculations are an average based on a survey of analysts that cover PerkinElmer.
PKI has been the subject of a number of recent research reports. Citigroup increased their price objective on PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Cowen restated a “hold” rating and issued a $70.00 target price on shares of PerkinElmer in a report on Friday, September 1st. Goldman Sachs Group restated a “neutral” rating and issued a $67.00 target price on shares of PerkinElmer in a report on Tuesday, September 26th. Morgan Stanley restated an “overweight” rating and issued a $77.00 target price (down previously from $79.00) on shares of PerkinElmer in a report on Friday, October 6th. Finally, Robert W. Baird restated a “buy” rating and issued a $72.00 target price on shares of PerkinElmer in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and an average target price of $68.64.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, January 18th. PerkinElmer’s payout ratio is 12.67%.
In other PerkinElmer news, Director Nicholas A. Lopardo sold 24,050 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $70.72, for a total transaction of $1,700,816.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $73.18, for a total transaction of $365,900.00. The disclosure for this sale can be found here. Insiders have sold 36,121 shares of company stock worth $2,569,252 over the last three months. Company insiders own 2.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PKI. Acrospire Investment Management LLC increased its position in PerkinElmer by 185.7% during the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock worth $136,000 after buying an additional 1,300 shares during the last quarter. LS Investment Advisors LLC grew its position in shares of PerkinElmer by 2.1% in the second quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 60 shares during the last quarter. Waldron LP acquired a new stake in shares of PerkinElmer in the third quarter valued at about $200,000. Seaward Management Limited Partnership acquired a new stake in shares of PerkinElmer in the third quarter valued at about $202,000. Finally, Carret Asset Management LLC acquired a new stake in shares of PerkinElmer in the second quarter valued at about $210,000. 91.66% of the stock is currently owned by hedge funds and other institutional investors.
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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