Brokerages Anticipate PerkinElmer, Inc. (PKI) Will Post Quarterly Sales of $552.30 Million
Brokerages expect PerkinElmer, Inc. (NYSE:PKI) to announce $552.30 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for PerkinElmer’s earnings, with estimates ranging from $550.00 million to $553.20 million. PerkinElmer reported sales of $548.05 million during the same quarter last year, which indicates a positive year over year growth rate of 0.8%. The firm is expected to issue its next quarterly earnings report on Monday, November 6th.
According to Zacks, 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 financial year, analysts forecast that the business will report 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 firms that cover PerkinElmer.
PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.67. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. The business 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 for the quarter was up 2.0% compared to the same quarter last year.
Several research analysts have issued reports on PKI shares. Cantor Fitzgerald reissued a “hold” rating on shares of PerkinElmer in a research report on Sunday, July 16th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research report on Wednesday, July 19th. Piper Jaffray Companies raised their price objective on shares of PerkinElmer to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 25th. Wells Fargo & Company started coverage on shares of PerkinElmer in a research report on Thursday, July 13th. They set a “market perform” rating and a $72.00 price objective on the stock. Finally, Morgan Stanley reissued an “overweight” rating and set a $79.00 price objective (up from $73.00) on shares of PerkinElmer in a research report on Monday, July 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. PerkinElmer presently has a consensus rating of “Hold” and an average price target of $67.92.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its holdings in PerkinElmer by 28.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,979 shares of the medical research company’s stock valued at $115,000 after acquiring an additional 434 shares in the last quarter. Acrospire Investment Management LLC increased its holdings in PerkinElmer by 185.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock valued at $136,000 after acquiring an additional 1,300 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in PerkinElmer during the 1st quarter valued at about $152,000. LS Investment Advisors LLC increased its holdings in PerkinElmer by 2.1% during the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after acquiring an additional 60 shares in the last quarter. Finally, Carret Asset Management LLC purchased a new position in PerkinElmer during the 2nd quarter valued at about $210,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.
Shares of PerkinElmer (NYSE:PKI) opened at 70.44 on Friday. The firm has a market capitalization of $7.76 billion, a P/E ratio of 21.24 and a beta of 0.72. The stock’s 50 day moving average is $67.53 and its 200 day moving average is $64.26. PerkinElmer has a 1-year low of $45.35 and a 1-year high of $70.59.
The business also recently disclosed 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. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, October 19th. PerkinElmer’s dividend payout ratio (DPR) is 8.46%.
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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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