Wall Street brokerages forecast that PerkinElmer, Inc. (NYSE:PKI) will post $722.53 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for PerkinElmer’s earnings. The lowest sales estimate is $720.00 million and the highest is $724.08 million. PerkinElmer posted sales of $674.31 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.2%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, October 30th.
According to Zacks, analysts expect that PerkinElmer will report full-year sales of $2.91 billion for the current year, with estimates ranging from $2.90 billion to $2.93 billion. For the next financial year, analysts forecast that the firm will post sales of $3.11 billion, with estimates ranging from $3.06 billion to $3.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.01). PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The company had revenue of $722.50 million during the quarter, compared to analyst estimates of $729.10 million. During the same period last year, the firm earned $0.91 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.
A number of research analysts recently commented on PKI shares. Wood & Company reiterated an “average” rating and issued a $49.00 price objective on shares of PerkinElmer in a report on Friday, July 19th. Bank of America upgraded PerkinElmer from a “neutral” rating to a “buy” rating and set a $105.00 price objective on the stock in a report on Thursday, September 26th. ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Raymond James started coverage on PerkinElmer in a report on Wednesday, July 10th. They issued an “outperform” rating on the stock. Finally, UBS Group upped their price objective on PerkinElmer from $99.00 to $101.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. PerkinElmer presently has an average rating of “Hold” and an average target price of $78.63.
Shares of PKI stock traded up $2.00 during trading hours on Friday, reaching $82.50. The company had a trading volume of 9,342 shares, compared to its average volume of 671,657. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.31 and a current ratio of 1.89. The stock has a fifty day moving average of $83.91 and a 200-day moving average of $90.16. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 1.46 and a beta of 1.29. PerkinElmer has a 12-month low of $71.83 and a 12-month high of $103.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, October 17th. PerkinElmer’s dividend payout ratio (DPR) is 7.76%.
In other PerkinElmer news, Director Alexis P. Michas sold 2,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $82.56, for a total transaction of $165,120.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in PKI. Phocas Financial Corp. acquired a new position in PerkinElmer during the second quarter worth $26,000. Amica Retiree Medical Trust acquired a new stake in shares of PerkinElmer in the second quarter valued at $48,000. CSat Investment Advisory L.P. raised its stake in shares of PerkinElmer by 74.1% in the second quarter. CSat Investment Advisory L.P. now owns 538 shares of the medical research company’s stock valued at $51,000 after acquiring an additional 229 shares in the last quarter. Coastal Capital Group Inc. acquired a new stake in shares of PerkinElmer in the second quarter valued at $58,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of PerkinElmer in the second quarter valued at $78,000. Institutional investors own 95.20% of the company’s stock.
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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