Brokerages Expect PerkinElmer, Inc. (PKI) Will Post Earnings of $0.94 Per Share
Wall Street brokerages predict that PerkinElmer, Inc. (NYSE:PKI) will post earnings of $0.94 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for PerkinElmer’s earnings, with the highest EPS estimate coming in at $0.95 and the lowest estimate coming in at $0.92. PerkinElmer posted earnings of $0.83 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next earnings results on Thursday, February 1st.
On average, analysts expect that PerkinElmer will report full-year earnings of $2.88 per share for the current financial year, with EPS estimates ranging from $2.87 to $2.90. For the next financial year, analysts expect that the firm will post earnings of $3.16 per share, with EPS estimates ranging from $3.13 to $3.20. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that cover PerkinElmer.
A number of research firms have weighed in on PKI. Morgan Stanley lifted their price objective on shares of PerkinElmer from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $80.00 price objective (up previously from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $67.00 price objective on shares of PerkinElmer in a report on Tuesday, September 26th. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Tuesday, August 1st. Finally, Robert W. Baird lifted their price objective on shares of PerkinElmer from $75.00 to $78.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $68.64.
In other news, Director Nicholas A. Lopardo sold 24,050 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $70.72, for a total value of $1,700,816.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.20% of the company’s stock.
Hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in PerkinElmer by 46.8% during the 1st quarter. FMR LLC now owns 272,519 shares of the medical research company’s stock worth $15,822,000 after buying an additional 86,838 shares in the last quarter. Teachers Advisors LLC lifted its holdings in PerkinElmer by 6.1% during the 1st quarter. Teachers Advisors LLC now owns 346,680 shares of the medical research company’s stock worth $20,128,000 after buying an additional 19,854 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PerkinElmer by 15.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 891,832 shares of the medical research company’s stock worth $51,778,000 after buying an additional 118,995 shares in the last quarter. Morgan Stanley lifted its holdings in PerkinElmer by 10.5% during the 1st quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock worth $15,834,000 after buying an additional 25,976 shares in the last quarter. Finally, Credit Suisse AG increased its position in shares of PerkinElmer by 6.5% in the 1st quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after purchasing an additional 6,665 shares during the last quarter. Hedge funds and other institutional investors own 91.38% of the company’s stock.
PerkinElmer (NYSE PKI) traded down $0.13 during midday trading on Friday, reaching $71.33. 1,027,600 shares of the company were exchanged, compared to its average volume of 575,442. PerkinElmer has a 52 week low of $49.72 and a 52 week high of $73.05. The company has a quick ratio of 2.09, a current ratio of 2.59 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $7,862.35, a P/E ratio of 25.66, a PEG ratio of 2.01 and a beta of 0.77.
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 issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $0.28 annualized dividend and a yield of 0.39%. PerkinElmer’s payout ratio is 7.78%.
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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