Equities research analysts expect that PerkinElmer, Inc. (NYSE:PKI) will report $0.94 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for PerkinElmer’s earnings, with estimates ranging from $0.92 to $0.95. PerkinElmer reported earnings per share of $0.83 during the same quarter last year, which suggests a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 1st.
According to Zacks, analysts expect that PerkinElmer will report full year earnings of $2.89 per share for the current year, with EPS estimates ranging from $2.87 to $2.92. For the next year, analysts anticipate that the firm will report earnings of $3.16 per share, with EPS estimates ranging from $3.13 to $3.20. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for PerkinElmer.
PKI has been the subject of several analyst reports. Zacks Investment Research raised shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, July 19th. Piper Jaffray Companies lifted their price target on shares of PerkinElmer to $80.00 and gave the company an “overweight” rating in a report on Tuesday, July 25th. BidaskClub downgraded shares of PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Morgan Stanley reissued an “overweight” rating and set a $77.00 price target (down from $79.00) on shares of PerkinElmer in a report on Friday, October 6th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $70.00 target price on shares of PerkinElmer in a research note on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. PerkinElmer currently has an average rating of “Hold” and a consensus target price of $68.64.
Shares of PerkinElmer (NYSE PKI) traded up $0.34 during mid-day trading on Friday, reaching $71.61. 671,500 shares of the company traded hands, compared to its average volume of 633,822. PerkinElmer has a 12-month low of $49.72 and a 12-month high of $73.05. The company has a market cap of $7,890.00, a P/E ratio of 25.64, a P/E/G ratio of 2.01 and a beta of 0.77. The company has a quick ratio of 2.09, a current ratio of 2.59 and a debt-to-equity ratio of 0.44.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 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 0.39%. The ex-dividend date is Thursday, January 18th. PerkinElmer’s dividend payout ratio is currently 12.67%.
In related news, Director Peter Barrett sold 7,071 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $71.07, for a total transaction of $502,535.97. Following the completion of the transaction, the director now owns 26,271 shares in the company, valued at $1,867,079.97. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicholas A. Lopardo sold 24,050 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $70.72, for a total transaction of $1,700,816.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Credit Suisse AG grew its holdings in PerkinElmer by 6.5% during the first quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after purchasing an additional 6,665 shares during the period. Ontario Teachers Pension Plan Board boosted its holdings in shares of PerkinElmer by 36.3% in the second quarter. Ontario Teachers Pension Plan Board now owns 95,415 shares of the medical research company’s stock valued at $6,502,000 after buying an additional 25,404 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of PerkinElmer by 59.8% in the second quarter. Neuberger Berman Group LLC now owns 52,030 shares of the medical research company’s stock valued at $3,545,000 after buying an additional 19,464 shares during the period. Legal & General Group Plc boosted its holdings in shares of PerkinElmer by 13.0% in the second quarter. Legal & General Group Plc now owns 100,010 shares of the medical research company’s stock valued at $6,815,000 after buying an additional 11,530 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of PerkinElmer by 10.5% in the first quarter. Morgan Stanley now owns 272,720 shares of the medical research company’s stock valued at $15,834,000 after buying an additional 25,976 shares during the period. Hedge funds and other institutional investors own 91.54% of the company’s stock.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental, industrial and laboratory services markets. The Company operates through two segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment serves the environmental, food, industrial, life sciences research and laboratory services markets.
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