PerkinElmer (NYSE:PKI) Issues Q4 2020 Pre-Market Earnings Guidance


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PerkinElmer (NYSE:PKI) issued an update on its fourth quarter 2020
Pre-Market earnings guidance on Monday morning. The company provided EPS guidance of 3.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.79. The company issued revenue guidance of $1.337-1.337 billion, compared to the consensus revenue estimate of $1.18 billion.PerkinElmer also updated its Q4 guidance to at least $3.60 EPS.

Shares of NYSE PKI opened at $151.52 on Thursday. The company has a market capitalization of $16.97 billion, a price-to-earnings ratio of 57.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.32 and a quick ratio of 0.91. The business has a 50-day moving average of $143.51 and a two-hundred day moving average of $125.27. PerkinElmer has a 1 year low of $62.91 and a 1 year high of $162.70.

PerkinElmer (NYSE:PKI) last announced its quarterly earnings results on Wednesday, October 28th. The medical research company reported $2.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.67. The company had revenue of $964.03 million during the quarter. PerkinElmer had a return on equity of 18.40% and a net margin of 9.87%. As a group, equities research analysts expect that PerkinElmer will post 5.45 earnings per share for the current year.

The firm also recently declared a dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $1.2144 per share. This represents a yield of 2.91%. The ex-dividend date is Monday, December 21st. PerkinElmer’s dividend payout ratio (DPR) is 6.83%.

A number of analysts have issued reports on PKI shares. Robert W. Baird lifted their price target on PerkinElmer from $137.00 to $151.00 and gave the stock an outperform rating in a report on Thursday, October 29th. Zacks Investment Research cut PerkinElmer from a strong-buy rating to a hold rating and set a $126.00 target price on the stock. in a research report on Monday, September 28th. Smith Barney Citigroup lifted their target price on PerkinElmer from $140.00 to $150.00 in a research report on Friday, December 11th. ValuEngine cut PerkinElmer from a hold rating to a sell rating in a research report on Monday, November 2nd. Finally, The Goldman Sachs Group began coverage on PerkinElmer in a research report on Wednesday, December 2nd. They set a buy rating and a $160.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $122.19.

In other PerkinElmer news, insider Andrew Okun sold 6,107 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $140.14, for a total transaction of $855,834.98. Following the transaction, the insider now owns 16,417 shares in the company, valued at approximately $2,300,678.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Prahlad R. Singh sold 10,636 shares of the business’s stock in a transaction that occurred on Tuesday, January 5th. The stock was sold at an average price of $150.00, for a total value of $1,595,400.00. Following the transaction, the insider now owns 50,537 shares in the company, valued at approximately $7,580,550. The disclosure for this sale can be found here. Insiders have sold a total of 20,837 shares of company stock worth $3,051,743 in the last quarter. 0.62% of the stock is currently owned by insiders.

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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