PerkinElmer, Inc. (PKI) Expected to Announce Earnings of $0.92 Per Share

Analysts expect PerkinElmer, Inc. (NYSE:PKI) to report $0.92 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for PerkinElmer’s earnings. The lowest EPS estimate is $0.91 and the highest is $0.95. PerkinElmer posted earnings per share of $0.73 in the same quarter last year, which would indicate a positive year-over-year growth rate of 26%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, October 31st.

According to Zacks, analysts expect that PerkinElmer will report full-year earnings of $3.65 per share for the current fiscal year, with EPS estimates ranging from $3.60 to $3.71. For the next financial year, analysts anticipate that the company will report earnings of $4.10 per share, with EPS estimates ranging from $4.00 to $4.37. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover PerkinElmer.

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

A number of equities research analysts have issued reports on the stock. Barclays upped their price target on shares of PerkinElmer from $73.00 to $79.00 and gave the company an “underweight” rating in a report on Thursday, August 2nd. UBS Group assumed coverage on shares of PerkinElmer in a report on Tuesday. They set a “neutral” rating and a $100.00 price target for the company. Deutsche Bank upped their price target on shares of PerkinElmer from $88.00 to $93.00 and gave the company a “hold” rating in a report on Monday, September 10th. Robert W. Baird restated a “buy” rating and set a $89.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. PerkinElmer currently has a consensus rating of “Hold” and a consensus target price of $86.21.

PKI stock traded up $2.27 during mid-day trading on Friday, reaching $86.96. 700,991 shares of the stock traded hands, compared to its average volume of 629,198. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.69 and a quick ratio of 1.17. PerkinElmer has a 52 week low of $69.21 and a 52 week high of $98.33. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 2.15 and a beta of 1.00.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 19th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Thursday, October 18th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.

In other news, insider Deborah A. Butters sold 3,266 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $97.70, for a total transaction of $319,088.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert F. Friel sold 2,709 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $80.00, for a total transaction of $216,720.00. Following the transaction, the chief executive officer now directly owns 575,366 shares of the company’s stock, valued at approximately $46,029,280. The disclosure for this sale can be found here. Insiders have sold 70,443 shares of company stock valued at $6,145,255 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can raised its position in shares of PerkinElmer by 121.6% during the third quarter. Bank of Montreal Can now owns 102,017 shares of the medical research company’s stock valued at $9,923,000 after buying an additional 55,980 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in shares of PerkinElmer during the third quarter valued at about $623,000. Fox Run Management L.L.C. acquired a new position in shares of PerkinElmer during the third quarter valued at about $692,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of PerkinElmer during the third quarter valued at about $107,000. Finally, United Services Automobile Association raised its position in shares of PerkinElmer by 3.8% during the second quarter. United Services Automobile Association now owns 37,785 shares of the medical research company’s stock valued at $2,767,000 after buying an additional 1,392 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.

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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