$615.80 Million in Sales Expected for PerkinElmer, Inc. (PKI) This Quarter
Brokerages predict that PerkinElmer, Inc. (NYSE:PKI) will post $615.80 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest sales estimate is $613.15 million and the highest is $619.70 million. PerkinElmer posted sales of $566.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.7%. The company is expected to issue its next quarterly earnings report on Thursday, February 1st.
On average, analysts expect that PerkinElmer will report full-year sales of $615.80 million for the current financial year, with estimates ranging from $2.23 billion to $2.24 billion. For the next financial year, analysts expect that the business will report sales of $2.42 billion per share, with estimates ranging from $2.33 billion to $2.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover PerkinElmer.
Several equities analysts have weighed in on PKI shares. Morgan Stanley raised their price objective on PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, November 3rd. Robert W. Baird raised their price objective on PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Citigroup raised their price objective on PerkinElmer from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Jefferies Group restated a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a research note on Friday, October 20th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $68.64.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.38%. The ex-dividend date is Thursday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is currently 7.78%.
In other PerkinElmer news, Director Peter Barrett sold 7,071 shares of PerkinElmer stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $71.07, for a total transaction of $502,535.97. Following the completion of the transaction, the director now owns 26,271 shares of the company’s stock, valued at approximately $1,867,079.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexis P. Michas sold 5,000 shares of PerkinElmer stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $73.18, for a total value of $365,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 36,121 shares of company stock valued at $2,569,252. 2.20% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position 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 valued at $3,415,000 after acquiring an additional 2,098 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of PerkinElmer during the 3rd quarter valued at about $297,000. Neuberger Berman Group LLC boosted its position 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 valued at $3,701,000 after acquiring an additional 1,634 shares during the last quarter. California Public Employees Retirement System boosted its position 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 valued at $19,357,000 after acquiring an additional 5,165 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position 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 valued at $6,630,000 after acquiring an additional 1,329 shares during the last quarter. Hedge funds and other institutional investors own 91.66% 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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