PerkinElmer (PKI) Updates FY18 Earnings Guidance

PerkinElmer (NYSE:PKI) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of ~$3.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.66. PerkinElmer also updated its FY 2018 guidance to $3.60-3.60 EPS.

Several research analysts have commented on the company. Janney Montgomery Scott lowered PerkinElmer from a buy rating to a neutral rating in a research report on Friday. ValuEngine upgraded PerkinElmer from a hold rating to a buy rating in a research note on Thursday, July 26th. Bank of America lifted their target price on PerkinElmer from $83.00 to $86.00 and gave the company a neutral rating in a research note on Thursday, August 2nd. Barclays lifted their target price on PerkinElmer from $73.00 to $79.00 and gave the company an underweight rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley lifted their target price on PerkinElmer from $90.00 to $95.00 and gave the company an overweight rating in a research note on Thursday, August 2nd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. PerkinElmer presently has a consensus rating of Hold and an average price target of $87.84.

Shares of PKI stock traded up $2.13 during midday trading on Friday, hitting $83.93. The company had a trading volume of 38,277 shares, compared to its average volume of 721,610. PerkinElmer has a 52-week low of $69.21 and a 52-week high of $98.33. The company has a market capitalization of $9.49 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79.

PerkinElmer (NYSE:PKI) last announced its earnings results on Wednesday, October 31st. The medical research company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). PerkinElmer had a net margin of 5.51% and a return on equity of 14.25%. The company had revenue of $674.30 million during the quarter, compared to analysts’ expectations of $676.72 million. During the same quarter last year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, equities analysts predict that PerkinElmer will post 3.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.33%. PerkinElmer’s dividend payout ratio (DPR) is currently 9.66%.

In related news, insider Deborah A. Butters sold 3,266 shares of PerkinElmer stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $97.70, for a total value of $319,088.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nicholas A. Lopardo sold 3,505 shares of PerkinElmer stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $85.60, for a total value of $300,028.00. The disclosure for this sale can be found here. Insiders sold a total of 33,126 shares of company stock worth $2,986,855 over the last quarter. Company insiders own 2.10% 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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