Analysts Anticipate PerkinElmer, Inc. (PKI) Will Post Quarterly Sales of $746.15 Million

Analysts expect that PerkinElmer, Inc. (NYSE:PKI) will announce $746.15 million in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PerkinElmer’s earnings. The highest sales estimate is $750.00 million and the lowest is $742.60 million. PerkinElmer reported sales of $641.63 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.3%. The firm is scheduled to announce its next earnings results on Thursday, January 24th.

On average, analysts expect that PerkinElmer will report full year sales of $2.77 billion for the current financial year, with estimates ranging from $2.77 billion to $2.79 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.92 billion, with estimates ranging from $2.88 billion to $2.99 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow PerkinElmer.

PerkinElmer (NYSE:PKI) last released its earnings results on Wednesday, October 31st. The medical research company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). PerkinElmer had a net margin of 4.71% and a return on equity of 15.04%. The firm had revenue of $674.30 million for the quarter, compared to analysts’ expectations of $676.72 million. During the same quarter last year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year.

A number of analysts have issued reports on the stock. Janney Montgomery Scott downgraded shares of PerkinElmer from a “buy” rating to a “neutral” rating in a report on Friday, November 2nd. Bank of America lifted their price target on shares of PerkinElmer from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. Barclays lifted their price target on shares of PerkinElmer from $73.00 to $79.00 and gave the company an “underweight” rating in a report on Thursday, August 2nd. Morgan Stanley lifted their price target on shares of PerkinElmer from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. Finally, Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $87.84.

In other news, insider Daniel R. Tereau sold 3,308 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $96.58, for a total value of $319,486.64. Following the sale, the insider now directly owns 10,092 shares in the company, valued at approximately $974,685.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick J. Sullivan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total transaction of $816,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,949 shares of company stock worth $2,575,140. 2.10% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in shares of PerkinElmer by 1.6% in the 3rd quarter. Capital Research Global Investors now owns 12,159,571 shares of the medical research company’s stock worth $1,182,761,000 after buying an additional 191,388 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of PerkinElmer by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 11,628,380 shares of the medical research company’s stock worth $1,131,092,000 after buying an additional 198,673 shares during the last quarter. Select Equity Group L.P. increased its holdings in shares of PerkinElmer by 7.2% in the 2nd quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock worth $631,754,000 after buying an additional 578,940 shares during the last quarter. BlackRock Inc. increased its holdings in shares of PerkinElmer by 7.6% in the 3rd quarter. BlackRock Inc. now owns 6,518,826 shares of the medical research company’s stock worth $634,084,000 after buying an additional 463,251 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of PerkinElmer by 0.4% in the 2nd quarter. Janus Henderson Group PLC now owns 6,359,094 shares of the medical research company’s stock worth $465,676,000 after buying an additional 22,710 shares during the last quarter. Hedge funds and other institutional investors own 94.64% of the company’s stock.

Shares of PKI traded up $1.09 during trading hours on Monday, reaching $82.76. 364,571 shares of the stock traded hands, compared to its average volume of 648,520. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.18 and a current ratio of 1.70. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.11. PerkinElmer has a 52-week low of $69.21 and a 52-week high of $98.33.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.34%. PerkinElmer’s dividend payout ratio is currently 9.66%.

About PerkinElmer

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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