Analysts Anticipate PerkinElmer, Inc. (PKI) Will Announce Earnings of $0.73 Per Share
Brokerages forecast that PerkinElmer, Inc. (NYSE:PKI) will announce earnings per share of $0.73 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for PerkinElmer’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.71. PerkinElmer reported earnings per share of $0.68 in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.4%. The company is scheduled to report its next earnings report on Monday, November 6th.
On average, analysts expect that PerkinElmer will report full-year earnings of $2.89 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $3.00. For the next fiscal year, analysts forecast that the company will report earnings of $3.24 per share, with EPS estimates ranging from $3.13 to $3.59. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The firm had revenue of $547.00 million during the quarter, compared to the consensus estimate of $554.14 million. During the same period in the previous year, the firm posted $0.67 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year.
Several equities research analysts have weighed in on PKI shares. BidaskClub cut shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Cantor Fitzgerald set a $65.00 price objective on shares of PerkinElmer and gave the stock a “hold” rating in a report on Monday, June 19th. Cowen and Company restated a “market perform” rating and issued a $70.00 price objective (up from $61.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Jefferies Group LLC restated a “hold” rating and issued a $69.00 price objective (up from $58.00) on shares of PerkinElmer in a report on Tuesday, June 20th. Finally, Evercore ISI restated an “in-line” rating and issued a $68.00 price objective (up from $62.50) on shares of PerkinElmer in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $67.00.
In related news, insider Andrew Okun sold 4,358 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $65.00, for a total value of $283,270.00. Following the completion of the transaction, the insider now directly owns 16,799 shares in the company, valued at approximately $1,091,935. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of PKI. Janus Henderson Group PLC bought a new position in shares of PerkinElmer in the 2nd quarter worth about $436,483,000. BlackRock Inc. increased its stake in shares of PerkinElmer by 4,652.8% in the 1st quarter. BlackRock Inc. now owns 5,787,627 shares of the medical research company’s stock worth $336,029,000 after acquiring an additional 5,665,854 shares in the last quarter. Koch Industries Inc. bought a new position in shares of PerkinElmer in the 2nd quarter worth about $364,000. Delta Lloyd Asset Management N.V. bought a new position in shares of PerkinElmer in the 2nd quarter worth about $19,315,000. Finally, Vanguard Group Inc. increased its stake in shares of PerkinElmer by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,886,642 shares of the medical research company’s stock worth $741,816,000 after acquiring an additional 273,975 shares in the last quarter. Institutional investors own 91.69% of the company’s stock.
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Shares of PerkinElmer (NYSE:PKI) opened at 69.08 on Friday. The company has a market capitalization of $7.61 billion, a P/E ratio of 20.83 and a beta of 0.74. PerkinElmer has a 1-year low of $45.35 and a 1-year high of $70.16. The firm has a 50-day moving average of $65.89 and a 200 day moving average of $62.89.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 20th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.41%. PerkinElmer’s payout ratio is 8.46%.
PerkinElmer Company Profile
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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