Brokerages Anticipate PerkinElmer, Inc. (PKI) Will Post Quarterly Sales of $552.30 Million
Wall Street analysts forecast that PerkinElmer, Inc. (NYSE:PKI) will announce $552.30 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for PerkinElmer’s earnings, with the lowest sales estimate coming in at $550.00 million and the highest estimate coming in at $553.20 million. PerkinElmer posted sales of $548.05 million in the same quarter last year, which suggests a positive year over year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that PerkinElmer will report full-year sales of $552.30 million for the current financial year, with estimates ranging from $2.21 billion to $2.24 billion. For the next fiscal year, analysts forecast that the firm will post sales of $2.32 billion per share, with estimates ranging from $2.30 billion to $2.34 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow PerkinElmer.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.67. PerkinElmer had a return on equity of 13.44% and a net margin of 16.80%. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. During the same quarter in the previous year, the business earned $0.67 EPS. PerkinElmer’s revenue was up 2.0% compared to the same quarter last year.
Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated a “hold” rating on shares of PerkinElmer in a report on Sunday, July 16th. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, July 19th. Piper Jaffray Companies upped their price objective on shares of PerkinElmer to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, July 25th. Wells Fargo & Company assumed coverage on shares of PerkinElmer in a report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price objective on the stock. Finally, Morgan Stanley restated an “overweight” rating and issued a $79.00 price objective (up from $73.00) on shares of PerkinElmer in a report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. PerkinElmer presently has a consensus rating of “Hold” and a consensus target price of $67.00.
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PerkinElmer (PKI) opened at 69.07 on Monday. PerkinElmer has a one year low of $45.35 and a one year high of $70.16. The stock has a market cap of $7.61 billion, a P/E ratio of 20.83 and a beta of 0.74. The company’s 50-day moving average price is $65.89 and its 200-day moving average price is $62.89.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 20th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.41%. PerkinElmer’s dividend payout ratio (DPR) is presently 8.46%.
A number of institutional investors have recently added to or reduced their stakes in PKI. Waldron LP acquired a new stake in PerkinElmer during the 1st quarter worth approximately $233,000. Russell Investments Group Ltd. lifted its holdings in PerkinElmer by 13.4% during the 1st quarter. Russell Investments Group Ltd. now owns 21,459 shares of the medical research company’s stock worth $1,245,000 after buying an additional 2,531 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in PerkinElmer by 143.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,600 shares of the medical research company’s stock worth $325,000 after buying an additional 3,300 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in PerkinElmer by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,049,537 shares of the medical research company’s stock worth $60,937,000 after buying an additional 27,484 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in PerkinElmer by 36.9% during the 1st quarter. LS Investment Advisors LLC now owns 2,817 shares of the medical research company’s stock worth $164,000 after buying an additional 759 shares in the last quarter. Institutional investors own 91.47% of the company’s stock.
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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