Analysts Anticipate PerkinElmer, Inc. (NYSE:PKI) Will Announce Quarterly Sales of $822.10 Million

Wall Street analysts forecast that PerkinElmer, Inc. (NYSE:PKI) will post $822.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for PerkinElmer’s earnings. The lowest sales estimate is $807.60 million and the highest is $846.97 million. PerkinElmer reported sales of $706.92 million during the same quarter last year, which indicates a positive year over year growth rate of 16.3%. The company is expected to announce its next quarterly earnings report on Wednesday, November 4th.

According to Zacks, analysts expect that PerkinElmer will report full-year sales of $3.18 billion for the current fiscal year, with estimates ranging from $3.14 billion to $3.21 billion. For the next year, analysts forecast that the firm will post sales of $3.31 billion, with estimates ranging from $3.15 billion to $3.44 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow PerkinElmer.

PerkinElmer (NYSE:PKI) last issued its earnings results on Tuesday, July 28th. The medical research company reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.87. PerkinElmer had a return on equity of 18.40% and a net margin of 9.87%. The business had revenue of $811.91 million for the quarter, compared to analysts’ expectations of $703.32 million. During the same period in the previous year, the firm posted $1.00 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis.

A number of analysts have recently issued reports on PKI shares. Stifel Nicolaus increased their target price on PerkinElmer from $95.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. BMO Capital Markets boosted their price target on shares of PerkinElmer from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 10th. JPMorgan Chase & Co. raised their price target on PerkinElmer from $85.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Cfra raised PerkinElmer from a “hold” rating to a “buy” rating in a research note on Wednesday, July 29th. Finally, Needham & Company LLC raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $139.00 target price for the company in a research report on Friday, September 11th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $95.75.

In other news, insider Andrew Okun sold 6,699 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $120.00, for a total value of $803,880.00. Following the completion of the sale, the insider now directly owns 17,009 shares of the company’s stock, valued at $2,041,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 23,387 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $117.84, for a total transaction of $2,755,924.08. Following the completion of the sale, the insider now owns 95,179 shares in the company, valued at approximately $11,215,893.36. The disclosure for this sale can be found here. 0.62% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in PKI. Cibc World Markets Corp boosted its stake in shares of PerkinElmer by 34.4% in the 2nd quarter. Cibc World Markets Corp now owns 10,929 shares of the medical research company’s stock valued at $1,072,000 after purchasing an additional 2,798 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of PerkinElmer by 0.5% during the second quarter. Nisa Investment Advisors LLC now owns 87,515 shares of the medical research company’s stock worth $8,584,000 after buying an additional 400 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of PerkinElmer by 12.3% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 11,253 shares of the medical research company’s stock valued at $1,104,000 after acquiring an additional 1,233 shares during the last quarter. Comerica Bank boosted its holdings in shares of PerkinElmer by 50.7% in the 2nd quarter. Comerica Bank now owns 50,703 shares of the medical research company’s stock worth $5,680,000 after acquiring an additional 17,050 shares in the last quarter. Finally, DNB Asset Management AS grew its position in PerkinElmer by 8.4% during the 2nd quarter. DNB Asset Management AS now owns 13,861 shares of the medical research company’s stock worth $1,360,000 after acquiring an additional 1,071 shares during the last quarter. Hedge funds and other institutional investors own 92.23% of the company’s stock.

PKI stock traded up $1.74 during mid-day trading on Friday, reaching $120.25. 24,889 shares of the stock traded hands, compared to its average volume of 896,703. The stock’s fifty day moving average is $117.52 and its 200-day moving average is $97.18. The company has a market cap of $13.25 billion, a P/E ratio of 45.75, a P/E/G ratio of 1.27 and a beta of 1.36. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.55. PerkinElmer has a 52-week low of $62.91 and a 52-week high of $123.21.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 6th. Shareholders of record on Friday, October 16th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, October 15th. PerkinElmer’s dividend payout ratio is 6.83%.

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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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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