$1.20 Billion in Sales Expected for PerkinElmer, Inc. (NYSE:PKI) This Quarter


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Brokerages predict that PerkinElmer, Inc. (NYSE:PKI) will post sales of $1.20 billion for the current quarter, Zacks reports. 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 $1.19 billion. PerkinElmer posted sales of $652.40 million during the same quarter last year, which suggests a positive year over year growth rate of 83.9%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that PerkinElmer will report full-year sales of $4.16 billion for the current year, with estimates ranging from $4.06 billion to $4.42 billion. For the next year, analysts forecast that the firm will post sales of $3.60 billion, with estimates ranging from $3.40 billion to $3.78 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for PerkinElmer.

PerkinElmer (NYSE:PKI) last released its earnings results on Tuesday, February 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.95. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.22 billion. PerkinElmer had a return on equity of 21.57% and a net margin of 12.74%. The firm’s revenue for the quarter was up 68.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.35 earnings per share.

Several research analysts have issued reports on PKI shares. Wells Fargo & Company raised PerkinElmer from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $175.00 in a report on Thursday, January 7th. Smith Barney Citigroup boosted their target price on shares of PerkinElmer from $140.00 to $150.00 in a research note on Friday, December 11th. Needham & Company LLC boosted their target price on shares of PerkinElmer from $139.00 to $193.00 and gave the company a “buy” rating in a research note on Monday, November 9th. Robert W. Baird boosted their target price on shares of PerkinElmer from $137.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Finally, Citigroup boosted their target price on shares of PerkinElmer from $150.00 to $155.00 in a research note on Wednesday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $131.27.

In related news, insider Daniel R. Tereau sold 2,047 shares of the company’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $147.07, for a total value of $301,052.29. Following the completion of the sale, the insider now directly owns 10,378 shares in the company, valued at $1,526,292.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Prahlad R. Singh sold 10,636 shares of the company’s stock in a transaction on Tuesday, January 5th. The stock was sold at an average price of $150.00, for a total transaction of $1,595,400.00. Following the completion of the sale, the insider now owns 50,537 shares of the company’s stock, valued at $7,580,550. The disclosure for this sale can be found here. Insiders sold 16,777 shares of company stock valued at $2,496,960 over the last quarter. 0.62% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Anderson Fisher LLC bought a new stake in PerkinElmer in the third quarter worth $35,000. Duncker Streett & Co. Inc. bought a new stake in PerkinElmer during the third quarter valued at about $38,000. Liberty Wealth Management LLC bought a new stake in PerkinElmer during the fourth quarter valued at about $40,000. Optimum Investment Advisors bought a new stake in PerkinElmer during the fourth quarter valued at about $43,000. Finally, TFC Financial Management bought a new stake in PerkinElmer during the third quarter valued at about $52,000. Hedge funds and other institutional investors own 89.44% of the company’s stock.

Shares of NYSE PKI traded down $0.06 during trading on Friday, hitting $129.66. The company had a trading volume of 3,410 shares, compared to its average volume of 1,016,235. The company has a market cap of $14.52 billion, a P/E ratio of 35.25, a PEG ratio of 0.99 and a beta of 1.19. PerkinElmer has a 52 week low of $62.91 and a 52 week high of $162.70. The business’s 50-day moving average is $148.84 and its 200 day moving average is $133.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.35.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 7th. Investors of record on Friday, April 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, April 15th. PerkinElmer’s dividend payout ratio is presently 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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