PerkinElmer, Inc. (NYSE: PKI) Expected to Post Quarterly Sales of $1.22 Billion
Equity research analysts expect PerkinElmer, Inc. (NYSE:PKI) to report sales of $1.22 billion for the current quarter, reports Zacks Investment Research. Three analysts have made estimates of PerkinElmer’s earnings. The lowest sales estimate is $1.20 billion and the highest is $1.23 billion. PerkinElmer posted sales of $1.35 billion in the same quarter last year, which would indicate a negative growth rate of 9.6% year-over-year. The company is expected to release its next earnings report after the market closes on Tuesday, February 1.
On average, analysts expect PerkinElmer to report annual sales of $4.92 billion for the current year, with estimates ranging from $4.91 billion to $4.93 billion. For the next fiscal year, analysts expect the company to report sales of $4.35 billion, with estimates ranging from $4.17 billion to $4.66 billion. Zacks sales calculations are an average based on a survey of sell-side research firms that provide coverage for PerkinElmer.
PerkinElmer Inc (NYSE:PKI) last released its quarterly earnings data on Tuesday, November 2. The medical research company reported earnings per share of $2.31 for the quarter, beating the consensus estimate of $1.70 by $0.61. PerkinElmer had a net margin of 22.41% and a return on equity of 30.57%. The company posted revenue of $1.17 billion in the quarter, versus $1 billion expected by analysts. In the same period a year earlier, the company earned earnings per share of $2.09.
Several research companies have recently commented on PKI. Robert W. Baird raised his price target on PerkinElmer shares from $183.00 to $206.00 and gave the stock an “outperform” rating in a Wednesday, Nov. 3 research note. They noted that the move was a review call. Wells Fargo & Company raised its price target on PerkinElmer shares from $200.00 to $205.00 and gave the stock an “overweight” rating in a Tuesday, December 14 research report. The Goldman Sachs Group began covering PerkinElmer shares in a report on Thursday, December 16. They set a “neutral” rating and a target price of $200.00 for the company. Finally, Royal Bank of Canada raised its price target on PerkinElmer shares from $49.00 to $50.00 and gave the stock an “outperform” rating in a Wednesday, Nov. 17, report. One analyst rated the stock with a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, PerkinElmer currently has a consensus rating of “Buy” and an average target price of $164.48.
In other PerkinElmer news, insider Daniel R. Tereau sold 3,546 shares in a trade on Thursday, December 9. The stock was sold at an average price of $189.55, for a total value of $672,144.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.55% of the company’s shares.
Several large investors have recently changed their positions in the stock. Concord Wealth Partners increased its stake in PerkinElmer by 463.6% during the 4th quarter. Concord Wealth Partners now owns 124 shares of the medical research company worth $25,000 after buying 102 more shares in the last quarter. Carroll Financial Associates Inc. increased its position in PerkinElmer by 3,675.0% during the third quarter. Carroll Financial Associates Inc. now owns 151 shares of the medical research company valued at $26,000 after buying an additional 147 shares during the period. Whittier Trust Co. increased its position in PerkinElmer by 269.4% during the fourth quarter. Whittier Trust Co. now owns 181 shares of the medical research company valued at $36,000 after buying an additional 132 shares during the period. Private Capital Group LLC increased its position in PerkinElmer by 83.1% during the third quarter. Private Capital Group LLC now owns 227 shares of the medical research company worth $39,000 after acquiring 103 additional shares during the period. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in PerkinElmer during Q3 worth $52,000. Institutional investors and hedge funds hold 80.93% of the company’s shares.
PKI stock opened at $169.43 on Friday. PerkinElmer has a 52 week low of $119.95 and a 52 week high of $203.16. The company has a quick ratio of 1.40, a current ratio of 1.97 and a debt ratio of 0.73. The company has a fifty-day simple moving average of $183.49 and a two-hundred-day simple moving average of $179.65. The company has a market capitalization of $21.38 billion, a P/E ratio of 16.86, a price-to-earnings growth ratio of 0.62 and a beta of 1.08.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 13. Investors of record on Friday, April 22 will receive a dividend of $0.07 per share. This represents an annualized dividend of $0.28 and a dividend yield of 0.17%. PerkinElmer’s dividend payout ratio is currently 2.79%.
PerkinElmer, Inc is committed to providing products, services and solutions for the diagnostic, food, environmental, life science and applied markets. It operates through the following segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment includes technologies that help life science researchers better understand diseases and develop treatments.
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