Zacks: Brokerages Expect PerkinElmer, Inc. (PKI) to Announce $0.93 Earnings Per Share

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Brokerages expect PerkinElmer, Inc. (NYSE:PKI) to announce $0.93 earnings per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for PerkinElmer’s earnings. The highest EPS estimate is $0.99 and the lowest is $0.91. PerkinElmer posted earnings per share of $0.73 in the same quarter last year, which would suggest a positive year-over-year growth rate of 27.4%. The company is expected to announce its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that PerkinElmer will report full-year earnings of $3.66 per share for the current year, with EPS estimates ranging from $3.60 to $3.75. For the next year, analysts expect that the company will post earnings of $4.10 per share, with EPS estimates ranging from $4.00 to $4.38. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last posted its quarterly earnings results on Wednesday, August 1st. The medical research company reported $0.91 EPS for the quarter, beating the 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 return on equity of 14.25% and a net margin of 5.51%. The company’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 EPS.

Several equities analysts have commented on PKI shares. Zacks Investment Research cut PerkinElmer from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. ValuEngine raised PerkinElmer from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Morgan Stanley upped their price target on PerkinElmer from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. Barclays upped their price target on PerkinElmer from $73.00 to $79.00 and gave the company an “underweight” rating in a report on Thursday, August 2nd. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $89.00 price target on shares of PerkinElmer in a report on Thursday, August 2nd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. PerkinElmer has an average rating of “Hold” and an average target price of $81.45.

PerkinElmer stock traded up $0.28 during trading hours on Friday, hitting $92.74. The stock had a trading volume of 9,686 shares, compared to its average volume of 539,219. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.79. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 2.05 and a beta of 1.01. PerkinElmer has a fifty-two week low of $66.48 and a fifty-two week high of $93.15.

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

In other news, Director Nicholas A. Lopardo sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $92.28, for a total value of $249,156.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joel S. Goldberg sold 34,608 shares of the company’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $2,941,680.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,694 shares of company stock worth $5,112,810. Corporate insiders own 2.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in PKI. Schroder Investment Management Group grew its position 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 worth $56,305,000 after acquiring an additional 46,316 shares during the last quarter. Jane Street Group LLC bought a new stake in PerkinElmer during the 2nd quarter worth approximately $650,000. Advisors Asset Management Inc. grew its position in PerkinElmer by 12.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 46,689 shares of the medical research company’s stock worth $2,912,000 after acquiring an additional 5,308 shares during the last quarter. Argent Trust Co bought a new stake in PerkinElmer during the 2nd quarter worth approximately $401,000. Finally, Millennium Management LLC bought a new stake in PerkinElmer during the 2nd quarter worth approximately $1,647,000. Institutional investors own 95.71% of the company’s stock.

About PerkinElmer

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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