PerkinElmer, Inc. (PKI) to Issue $0.07 Quarterly Dividend
PerkinElmer, Inc. (NYSE:PKI) declared a quarterly dividend on Friday, October 27th, RTT News reports. Shareholders of record on Friday, January 19th will be given a dividend of 0.07 per share by the medical research company on Friday, February 9th. This represents a $0.28 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, January 18th.
PerkinElmer has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect PerkinElmer to earn $3.29 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.5%.
PerkinElmer (PKI) opened at $78.89 on Friday. PerkinElmer has a 1-year low of $50.59 and a 1-year high of $79.02. 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 stock has a market capitalization of $8,555.68, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77.
Several research firms have issued reports on PKI. Citigroup reaffirmed a “buy” rating and set a $80.00 price objective (up previously from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. Zacks Investment Research raised PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Monday, January 8th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $67.00 price objective on shares of PerkinElmer in a report on Tuesday, September 26th. Evercore ISI began coverage on PerkinElmer in a report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price objective on the stock. Finally, ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $72.29.
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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