PerkinElmer, Inc. (NYSE:PKI) Expected to Post Quarterly Sales of $1.21 Billion

Brokerages expect PerkinElmer, Inc. (NYSE:PKI – Get Rating) to post $1.21 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for PerkinElmer’s earnings, with the highest sales estimate coming in at $1.21 billion and the lowest estimate coming in at $1.20 billion. PerkinElmer posted sales of $1.23 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 1.6%. The company is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that PerkinElmer will report full year sales of $4.61 billion for the current financial year, with estimates ranging from $4.59 billion to $4.62 billion. For the next financial year, analysts expect that the business will report sales of $4.55 billion, with estimates ranging from $4.44 billion to $4.68 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow PerkinElmer.

PerkinElmer (NYSE:PKI – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The medical research company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.33. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.19 billion. PerkinElmer had a net margin of 14.54% and a return on equity of 18.98%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.72 earnings per share.

A number of research firms have commented on PKI. Citigroup decreased their price objective on shares of PerkinElmer from $185.00 to $170.00 in a report on Wednesday, May 4th. StockNews.com began coverage on shares of PerkinElmer in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Robert W. Baird decreased their price objective on shares of PerkinElmer from $216.00 to $198.00 in a report on Wednesday, May 4th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $165.64.

In other news, insider Daniel R. Tereau sold 6,696 shares of the business’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $165.84, for a total transaction of $1,110,464.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marks Group Wealth Management Inc raised its stake in shares of PerkinElmer by 5.3% during the first quarter. Marks Group Wealth Management Inc now owns 38,167 shares of the medical research company’s stock valued at $6,659,000 after purchasing an additional 1,916 shares in the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of PerkinElmer during the first quarter valued at about $204,000. Lane Generational LLC raised its stake in shares of PerkinElmer by 4.4% during the first quarter. Lane Generational LLC now owns 33,486 shares of the medical research company’s stock valued at $5,842,000 after purchasing an additional 1,412 shares in the last quarter. Van ECK Associates Corp raised its position in PerkinElmer by 9.2% in the first quarter. Van ECK Associates Corp now owns 18,843 shares of the medical research company’s stock worth $3,287,000 after acquiring an additional 1,581 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in PerkinElmer in the first quarter worth about $255,000. Institutional investors and hedge funds own 89.27% of the company’s stock.

PerkinElmer stock opened at $145.02 on Wednesday. The company has a market cap of $18.29 billion, a PE ratio of 23.73, a P/E/G ratio of 0.43 and a beta of 1.16. The company has a fifty day moving average price of $165.23 and a two-hundred day moving average price of $175.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.94 and a quick ratio of 1.50. PerkinElmer has a 12 month low of $137.13 and a 12 month high of $203.16.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Friday, July 22nd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.19%. The ex-dividend date is Thursday, July 21st. PerkinElmer’s dividend payout ratio (DPR) is 4.58%.

PerkinElmer Company Profile (Get Rating)

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through 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 contract research and laboratory services.

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