PerkinElmer (NYSE:PKI) Releases Q1 2021 Earnings Guidance

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PerkinElmer (NYSE:PKI) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $1.29 billion-$1.29 billion, compared to the consensus revenue estimate of $1.19 billion.

Shares of PKI traded down $2.75 during trading hours on Tuesday, hitting $127.81. The company had a trading volume of 1,350,726 shares, compared to its average volume of 996,559. PerkinElmer has a 52-week low of $88.27 and a 52-week high of $162.70. The firm has a market cap of $14.32 billion, a P/E ratio of 34.58, a P/E/G ratio of 0.99 and a beta of 1.19. The company has a quick ratio of 0.96, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $130.77 and its 200 day moving average price is $136.41.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Tuesday, February 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.95. PerkinElmer had a return on equity of 21.57% and a net margin of 12.74%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.35 EPS. PerkinElmer’s revenue was up 68.2% compared to the same quarter last year. On average, research analysts expect that PerkinElmer will post 7.12 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 16th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, July 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. PerkinElmer’s dividend payout ratio is presently 6.83%.

PKI has been the topic of a number of research analyst reports. Wells Fargo & Company upgraded PerkinElmer from an equal weight rating to an overweight rating and boosted their price target for the company from $140.00 to $175.00 in a report on Thursday, January 7th. Citigroup upped their target price on PerkinElmer from $150.00 to $155.00 in a report on Wednesday, February 3rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $133.93.

PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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