Zacks: Brokerages Expect PerkinElmer, Inc. (PKI) Will Announce Quarterly Sales of $615.80 Million

Brokerages predict that PerkinElmer, Inc. (NYSE:PKI) will post sales of $615.80 million for the current quarter, according to Zacks. Six analysts have made estimates for PerkinElmer’s earnings, with estimates ranging from $613.15 million to $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 report its next earnings report after the market closes on Thursday, January 25th.

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’ sales averages are an average based on a survey of sell-side analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Thursday, November 2nd. The medical research company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The business had revenue of $554.28 million during the quarter, compared to analyst estimates of $552.38 million. PerkinElmer had a net margin of 18.27% and a return on equity of 13.11%.

A number of equities analysts recently weighed in on PKI shares. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Monday, January 8th. Evercore ISI started coverage on shares of PerkinElmer in a research report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 target price for the company. Bank of America upgraded shares of PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 target price for the company in a research report on Tuesday, December 19th. ValuEngine lowered shares of PerkinElmer from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Jefferies Group restated a “hold” rating and set a $70.00 target price on shares of PerkinElmer in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. PerkinElmer has a consensus rating of “Hold” and an average target price of $73.62.

In other news, Director Nicholas A. Lopardo sold 24,050 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $70.72, for a total value of $1,700,816.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $73.18, for a total transaction of $365,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 86,336 shares of company stock worth $6,114,917. Insiders own 2.20% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Cutler Group LP grew its holdings in PerkinElmer by 845.7% during the 4th quarter. Cutler Group LP now owns 2,237 shares of the medical research company’s stock worth $163,000 after acquiring an additional 2,537 shares in the last quarter. Waldron LP bought a new stake in shares of PerkinElmer in the 3rd quarter valued at about $200,000. Seaward Management Limited Partnership bought a new stake in shares of PerkinElmer in the 3rd quarter valued at about $202,000. Carret Asset Management LLC bought a new stake in shares of PerkinElmer in the 2nd quarter valued at about $210,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of PerkinElmer in the 2nd quarter valued at about $269,000. Institutional investors own 91.39% of the company’s stock.

PerkinElmer (NYSE:PKI) opened at $81.20 on Tuesday. The firm has a market cap of $8,940.00, a P/E ratio of 36.74, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77. PerkinElmer has a 12-month low of $50.59 and a 12-month high of $81.30. 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. Stockholders of record on Friday, January 19th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 18th. PerkinElmer’s dividend payout ratio is currently 12.67%.

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About PerkinElmer

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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