Analysts expect PerkinElmer, Inc. (NYSE:PKI) to report $0.86 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for PerkinElmer’s earnings. The highest EPS estimate is $0.89 and the lowest is $0.85. PerkinElmer posted earnings per share of $0.67 during the same quarter last year, which indicates a positive year-over-year growth rate of 28.4%. The firm is expected to announce its next quarterly earnings results on Thursday, August 2nd.
On average, analysts expect that PerkinElmer will report full year earnings of $3.61 per share for the current financial year, with EPS estimates ranging from $3.60 to $3.65. For the next financial year, analysts expect that the business will post earnings of $4.03 per share, with EPS estimates ranging from $3.92 to $4.17. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Monday, April 30th. The medical research company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $644.00 million during the quarter, compared to analysts’ expectations of $618.97 million. PerkinElmer had a net margin of 11.73% and a return on equity of 13.26%. PerkinElmer’s quarterly revenue was up 0 compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS.
PKI has been the subject of a number of research analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $88.00 price target on shares of PerkinElmer in a report on Friday, January 26th. Cowen reiterated a “hold” rating and issued a $84.00 price target on shares of PerkinElmer in a report on Friday, January 26th. Barclays raised their target price on shares of PerkinElmer from $69.00 to $73.00 and gave the company an “underweight” rating in a report on Friday, January 26th. Zacks Investment Research downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, ValuEngine upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. PerkinElmer has a consensus rating of “Hold” and an average target price of $77.49.
In related news, insider Frank Anders Wilson sold 103,656 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $73.94, for a total value of $7,664,324.64. Following the sale, the insider now directly owns 93,624 shares of the company’s stock, valued at $6,922,558.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Daniel R. Tereau sold 1,156 shares of the firm’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $77.00, for a total transaction of $89,012.00. Following the completion of the sale, the insider now directly owns 6,784 shares in the company, valued at $522,368. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in shares of PerkinElmer by 0.3% in the first quarter. Thrivent Financial for Lutherans now owns 279,809 shares of the medical research company’s stock worth $21,187,000 after acquiring an additional 700 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of PerkinElmer by 17.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,016 shares of the medical research company’s stock worth $367,000 after acquiring an additional 729 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of PerkinElmer by 8.0% in the first quarter. Commonwealth Equity Services LLC now owns 9,838 shares of the medical research company’s stock worth $744,000 after acquiring an additional 730 shares during the last quarter. Comerica Bank boosted its position in shares of PerkinElmer by 3.0% in the fourth quarter. Comerica Bank now owns 26,881 shares of the medical research company’s stock worth $2,189,000 after acquiring an additional 772 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of PerkinElmer by 53.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,228 shares of the medical research company’s stock worth $170,000 after acquiring an additional 779 shares during the last quarter. 93.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of PerkinElmer traded down $1.30, reaching $74.32, during trading hours on Monday, according to MarketBeat Ratings. The company had a trading volume of 461,264 shares, compared to its average volume of 610,885. The company has a quick ratio of 0.93, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $8.37 billion, a PE ratio of 25.63, a P/E/G ratio of 1.73 and a beta of 0.84. PerkinElmer has a 12-month low of $62.43 and a 12-month high of $84.49.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 20th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, July 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.38%. PerkinElmer’s dividend payout ratio is currently 9.66%.
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 develops and 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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