$0.67 Earnings Per Share Expected for PerkinElmer, Inc. (PKI) This Quarter
Analysts predict that PerkinElmer, Inc. (NYSE:PKI) will post $0.67 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest EPS estimate is $0.65 and the highest is $0.68. PerkinElmer also reported earnings per share of $0.67 in the same quarter last year. The business is expected to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that PerkinElmer will report full-year earnings of $2.86 per share for the current financial year, with EPS estimates ranging from $2.80 to $2.92. For the next fiscal year, analysts anticipate that the company will post earnings of $3.24 per share, with EPS estimates ranging from $3.06 to $3.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings data on Thursday, May 4th. The medical research company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.01. PerkinElmer had a return on equity of 13.97% and a net margin of 10.24%. The business had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis.
Several brokerages recently weighed in on PKI. Cowen and Company reaffirmed a “market perform” rating and issued a $70.00 target price (up from $61.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $49.00 target price on shares of PerkinElmer in a research report on Monday, May 15th. Wells Fargo & Company began coverage on PerkinElmer in a research report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 target price on the stock. BidaskClub lowered PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Cantor Fitzgerald lowered PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. PerkinElmer currently has an average rating of “Hold” and a consensus target price of $64.14.
In other news, insider Robert F. Friel sold 124,837 shares of the stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $60.11, for a total transaction of $7,503,952.07. Following the transaction, the insider now owns 696,810 shares of the company’s stock, valued at $41,885,249.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Okun sold 4,358 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $65.00, for a total transaction of $283,270.00. Following the transaction, the insider now directly owns 16,799 shares in the company, valued at approximately $1,091,935. The disclosure for this sale can be found here. Insiders have sold 170,923 shares of company stock valued at $10,340,269 over the last 90 days. Insiders own 2.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of PerkinElmer by 1.8% in the first quarter. Vanguard Group Inc. now owns 10,612,667 shares of the medical research company’s stock valued at $616,171,000 after buying an additional 184,749 shares during the last quarter. BlackRock Inc. boosted its position in shares of PerkinElmer by 4,652.8% in the first quarter. BlackRock Inc. now owns 5,787,627 shares of the medical research company’s stock valued at $336,029,000 after buying an additional 5,665,854 shares during the last quarter. State Street Corp boosted its position in shares of PerkinElmer by 2.2% in the first quarter. State Street Corp now owns 3,875,455 shares of the medical research company’s stock valued at $225,011,000 after buying an additional 82,817 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of PerkinElmer by 0.7% in the first quarter. Primecap Management Co. CA now owns 3,531,955 shares of the medical research company’s stock valued at $205,065,000 after buying an additional 25,825 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of PerkinElmer by 3.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,435,172 shares of the medical research company’s stock valued at $199,447,000 after buying an additional 99,801 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of PerkinElmer (NYSE:PKI) opened at 69.51 on Friday. The stock has a 50 day moving average price of $67.00 and a 200-day moving average price of $59.34. The firm has a market capitalization of $7.65 billion, a PE ratio of 33.89 and a beta of 0.76. PerkinElmer has a 52 week low of $45.35 and a 52 week high of $70.16.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Stockholders of record on Friday, July 21st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, July 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. PerkinElmer’s dividend payout ratio is presently 13.66%.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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