Brokerages expect PerkinElmer, Inc. (NYSE:PKI) to report earnings per share (EPS) of $1.01 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest EPS estimate is $1.00 and the highest is $1.02. PerkinElmer reported earnings per share of $0.90 in the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 30th.
On average, analysts expect that PerkinElmer will report full-year earnings of $4.04 per share for the current financial year, with EPS estimates ranging from $4.02 to $4.08. For the next fiscal year, analysts expect that the company will report earnings of $4.59 per share, with EPS estimates ranging from $4.47 to $4.72. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its earnings results on Monday, July 29th. The medical research company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $729.10 million. During the same period in the prior year, the business earned $0.91 earnings per share. PerkinElmer’s quarterly revenue was up 2.7% on a year-over-year basis.
A number of brokerages have commented on PKI. Zacks Investment Research upgraded PerkinElmer from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research report on Thursday, May 30th. Raymond James assumed coverage on PerkinElmer in a report on Wednesday, July 10th. They issued an “outperform” rating for the company. Wood & Company reiterated an “average” rating and set a $49.00 price target on shares of PerkinElmer in a research report on Friday, July 19th. UBS Group increased their price objective on shares of PerkinElmer from $99.00 to $101.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, ValuEngine cut shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PerkinElmer has a consensus rating of “Hold” and a consensus target price of $77.63.
In related news, Director Alexis P. Michas sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $82.56, for a total transaction of $165,120.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of PerkinElmer by 1.2% during the second quarter. Vanguard Group Inc. now owns 12,240,161 shares of the medical research company’s stock worth $1,179,217,000 after buying an additional 142,928 shares during the last quarter. BlackRock Inc. boosted its holdings in PerkinElmer by 10.8% in the second quarter. BlackRock Inc. now owns 7,400,482 shares of the medical research company’s stock worth $712,962,000 after acquiring an additional 721,797 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in PerkinElmer by 13.8% in the second quarter. Pictet Asset Management Ltd. now owns 2,487,165 shares of the medical research company’s stock valued at $239,613,000 after acquiring an additional 300,675 shares during the period. King Luther Capital Management Corp grew its position in PerkinElmer by 0.4% in the 2nd quarter. King Luther Capital Management Corp now owns 2,486,150 shares of the medical research company’s stock valued at $239,516,000 after purchasing an additional 8,856 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of PerkinElmer by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,522,499 shares of the medical research company’s stock valued at $119,450,000 after buying an additional 124,168 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.
PKI stock traded up $1.72 during mid-day trading on Tuesday, reaching $85.50. 898,807 shares of the stock traded hands, compared to its average volume of 724,315. The firm has a market capitalization of $9.30 billion, a PE ratio of 23.68, a P/E/G ratio of 1.49 and a beta of 1.29. The business has a 50-day moving average of $84.62 and a two-hundred day moving average of $91.53. PerkinElmer has a 52 week low of $71.83 and a 52 week high of $103.00. The company has a quick ratio of 1.31, a current ratio of 1.89 and a debt-to-equity ratio of 0.84.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Thursday, October 17th. PerkinElmer’s payout ratio is 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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