Wall Street analysts predict that PerkinElmer, Inc. (NYSE:PKI) will post sales of $615.80 million for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for PerkinElmer’s earnings. The highest sales estimate is $619.70 million and the lowest is $613.15 million. PerkinElmer posted sales of $566.77 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.7%. The business is scheduled to report its next quarterly earnings results on Thursday, February 1st.
According to Zacks, 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 fiscal year, analysts forecast that the company will post sales of $2.42 billion per share, with estimates ranging from $2.33 billion to $2.70 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for PerkinElmer.
Several analysts have weighed in on PKI shares. Morgan Stanley boosted their price objective on PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Robert W. Baird boosted their price objective on PerkinElmer from $75.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Citigroup boosted their price objective on PerkinElmer from $67.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, August 7th. Jefferies Group reissued a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a report on Friday, October 20th. Finally, ValuEngine cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.64.
Several institutional investors and hedge funds have recently modified their holdings of PKI. Acrospire Investment Management LLC grew its position in shares of PerkinElmer by 185.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock valued at $136,000 after purchasing an additional 1,300 shares during the period. LS Investment Advisors LLC grew its position in shares of PerkinElmer by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after purchasing an additional 60 shares during the period. Waldron LP acquired a new position in shares of PerkinElmer in the 3rd quarter valued at approximately $200,000. Seaward Management Limited Partnership acquired a new position in shares of PerkinElmer in the 3rd quarter valued at approximately $202,000. Finally, Carret Asset Management LLC acquired a new position in shares of PerkinElmer in the 2nd quarter valued at approximately $210,000. Institutional investors and hedge funds own 91.66% of the company’s stock.
Shares of PerkinElmer (NYSE:PKI) opened at $73.12 on Friday. The firm has a market capitalization of $8,121.39, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.20 and a beta of 0.77. PerkinElmer has a twelve month low of $50.51 and a twelve month high of $74.11. The company has a current ratio of 2.59, a quick ratio of 2.09 and a debt-to-equity ratio of 0.44.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be paid a $0.07 dividend. The ex-dividend date is Thursday, January 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.38%. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.
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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