Zacks: Brokerages Expect PerkinElmer, Inc. (PKI) to Announce $0.94 Earnings Per Share
Wall Street analysts expect that PerkinElmer, Inc. (NYSE:PKI) will announce earnings per share (EPS) of $0.94 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest EPS estimate is $0.92 and the highest is $0.95. PerkinElmer reported earnings per share of $0.83 during the same quarter last year, which suggests a positive year-over-year growth rate of 13.3%. The business is expected to report its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that PerkinElmer will report full-year earnings of $2.89 per share for the current year, with EPS estimates ranging from $2.87 to $2.92. For the next fiscal year, analysts forecast that the company will report earnings of $3.16 per share, with EPS estimates ranging from $3.13 to $3.20. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover PerkinElmer.
PKI has been the subject of several analyst reports. Robert W. Baird restated a “buy” rating and set a $72.00 target price on shares of PerkinElmer in a research report on Friday, October 20th. Citigroup boosted their target price on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a research report on Monday, August 7th. Piper Jaffray Companies restated a “buy” rating and set a $81.00 target price on shares of PerkinElmer in a research report on Friday, August 4th. Cowen reiterated a “hold” rating and issued a $70.00 price objective on shares of PerkinElmer in a research report on Friday, September 1st. Finally, Jefferies Group reiterated a “hold” rating and issued a $70.00 price objective on shares of PerkinElmer in a research report on Friday, October 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.64.
Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its stake in shares of PerkinElmer by 4.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 49,515 shares of the medical research company’s stock worth $3,415,000 after purchasing an additional 2,098 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of PerkinElmer during the 3rd quarter worth approximately $297,000. Neuberger Berman Group LLC raised its stake in shares of PerkinElmer by 3.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 53,664 shares of the medical research company’s stock worth $3,701,000 after purchasing an additional 1,634 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of PerkinElmer by 1.9% during the 3rd quarter. California Public Employees Retirement System now owns 280,665 shares of the medical research company’s stock worth $19,357,000 after purchasing an additional 5,165 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of PerkinElmer by 1.4% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 96,127 shares of the medical research company’s stock worth $6,630,000 after purchasing an additional 1,329 shares in the last quarter. Institutional investors own 91.66% of the company’s stock.
PerkinElmer (NYSE:PKI) traded down $0.60 during trading on Friday, hitting $73.08. The stock had a trading volume of 163,433 shares, compared to its average volume of 632,139. The firm has a market cap of $8,070.00, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.21 and a beta of 0.77. PerkinElmer has a 52 week low of $50.51 and a 52 week high of $74.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 2.09.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Thursday, January 18th. PerkinElmer’s payout ratio is 12.67%.
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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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