PerkinElmer, Inc. (NYSE:PKI) Expected to Post Quarterly Sales of $722.53 Million

Wall Street brokerages expect PerkinElmer, Inc. (NYSE:PKI) to report sales of $722.53 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for PerkinElmer’s earnings, with the lowest sales estimate coming in at $720.00 million and the highest estimate coming in at $724.08 million. PerkinElmer posted sales of $674.31 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 30th.

On average, analysts expect that PerkinElmer will report full-year sales of $2.91 billion for the current fiscal year, with estimates ranging from $2.90 billion to $2.93 billion. For the next financial year, analysts anticipate that the firm will report sales of $3.11 billion, with estimates ranging from $3.06 billion to $3.15 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for PerkinElmer.

PerkinElmer (NYSE:PKI) last posted its earnings results on Monday, July 29th. The medical research company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.01). The firm had revenue of $722.50 million for the quarter, compared to the consensus estimate of $729.10 million. PerkinElmer had a net margin of 9.01% and a return on equity of 16.07%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 earnings per share.

PKI has been the subject of a number of analyst reports. Wood & Company restated an “average” rating and issued a $49.00 price target on shares of PerkinElmer in a research report on Friday, July 19th. Raymond James initiated coverage on PerkinElmer in a research report on Wednesday, July 10th. They issued an “outperform” rating for the company. ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Wolfe Research initiated coverage on PerkinElmer in a research report on Thursday, May 30th. They issued a “peer perform” rating for the company. Finally, UBS Group raised their price target on PerkinElmer from $99.00 to $101.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $76.23.

Shares of NYSE PKI traded up $0.04 during midday trading on Thursday, reaching $86.10. 415,873 shares of the stock traded hands, compared to its average volume of 715,974. The stock has a market capitalization of $9.58 billion, a PE ratio of 23.85, a P/E/G ratio of 1.53 and a beta of 1.29. The company’s 50 day moving average is $83.25 and its 200 day moving average is $91.18. PerkinElmer has a one year low of $71.83 and a one year high of $103.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.89 and a quick ratio of 1.31.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be given a $0.07 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.33%. PerkinElmer’s dividend payout ratio is presently 7.76%.

In other PerkinElmer news, Director Alexis P. Michas sold 2,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $82.56, for a total value of $165,120.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Crawford Investment Counsel Inc. increased its stake in PerkinElmer by 1.1% in the first quarter. Crawford Investment Counsel Inc. now owns 9,860 shares of the medical research company’s stock worth $950,000 after purchasing an additional 110 shares during the period. Mason Street Advisors LLC increased its stake in shares of PerkinElmer by 0.8% during the first quarter. Mason Street Advisors LLC now owns 15,807 shares of the medical research company’s stock valued at $1,523,000 after buying an additional 124 shares during the period. Retirement Systems of Alabama increased its stake in shares of PerkinElmer by 0.3% during the second quarter. Retirement Systems of Alabama now owns 51,726 shares of the medical research company’s stock valued at $4,983,000 after buying an additional 134 shares during the period. Securian Asset Management Inc increased its stake in shares of PerkinElmer by 1.2% during the second quarter. Securian Asset Management Inc now owns 11,504 shares of the medical research company’s stock valued at $1,108,000 after buying an additional 141 shares during the period. Finally, Glen Harbor Capital Management LLC increased its stake in shares of PerkinElmer by 3.9% during the second quarter. Glen Harbor Capital Management LLC now owns 3,840 shares of the medical research company’s stock valued at $370,000 after buying an additional 144 shares during the period. Institutional investors and hedge funds own 95.20% of the company’s stock.

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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