$674.44 Million in Sales Expected for PerkinElmer, Inc. (PKI) This Quarter

Wall Street analysts forecast that PerkinElmer, Inc. (NYSE:PKI) will report sales of $674.44 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest sales estimate is $668.42 million and the highest is $676.60 million. PerkinElmer reported sales of $554.28 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.7%. The firm is expected to report its next earnings results on Thursday, November 1st.

On average, analysts expect that PerkinElmer will report full-year sales of $2.78 billion for the current fiscal year, with estimates ranging from $2.77 billion to $2.80 billion. For the next financial year, analysts forecast that the firm will post sales of $2.94 billion, with estimates ranging from $2.90 billion to $3.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for PerkinElmer.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings data on Wednesday, August 1st. The medical research company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $703.55 million for the quarter, compared to the consensus estimate of $694.70 million. PerkinElmer had a net margin of 5.51% and a return on equity of 14.25%. The firm’s revenue was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share.

A number of equities analysts recently issued reports on PKI shares. Cleveland Research raised shares of PerkinElmer from a “neutral” rating to a “buy” rating in a report on Thursday, August 30th. Morgan Stanley raised their price objective on shares of PerkinElmer from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, August 2nd. Bank of America raised their price objective on shares of PerkinElmer from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Cowen reissued a “hold” rating and issued a $85.00 price objective on shares of PerkinElmer in a report on Thursday, August 2nd. Finally, ValuEngine raised shares of PerkinElmer from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. PerkinElmer has a consensus rating of “Hold” and an average target price of $84.34.

In other PerkinElmer news, insider Daniel R. Tereau sold 3,308 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $96.58, for a total transaction of $319,486.64. Following the sale, the insider now owns 10,092 shares in the company, valued at approximately $974,685.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Deborah A. Butters sold 3,266 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $97.70, for a total transaction of $319,088.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,443 shares of company stock worth $6,145,255. 2.10% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKI. Select Equity Group L.P. increased its stake in shares of PerkinElmer by 7.2% in the 2nd quarter. Select Equity Group L.P. now owns 8,626,977 shares of the medical research company’s stock worth $631,754,000 after acquiring an additional 578,940 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in PerkinElmer by 0.4% during the 2nd quarter. Janus Henderson Group PLC now owns 6,359,094 shares of the medical research company’s stock valued at $465,676,000 after acquiring an additional 22,710 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PerkinElmer by 2.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,268,621 shares of the medical research company’s stock valued at $239,362,000 after acquiring an additional 77,337 shares during the period. Partner Fund Management L.P. boosted its holdings in PerkinElmer by 7.4% during the 2nd quarter. Partner Fund Management L.P. now owns 1,161,817 shares of the medical research company’s stock valued at $85,080,000 after acquiring an additional 80,310 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in PerkinElmer by 6.3% during the 2nd quarter. Schroder Investment Management Group now owns 777,808 shares of the medical research company’s stock valued at $56,305,000 after acquiring an additional 46,316 shares during the period. Institutional investors own 95.78% of the company’s stock.

PKI opened at $92.01 on Monday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $10.77 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00. PerkinElmer has a 12-month low of $69.21 and a 12-month high of $98.33.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 19th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, October 18th. PerkinElmer’s payout ratio is 9.66%.

PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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