PerkinElmer, Inc. (PKI) Expected to Post Earnings of $0.73 Per Share

Analysts expect PerkinElmer, Inc. (NYSE:PKI) to post earnings per share (EPS) of $0.73 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for PerkinElmer’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.78. PerkinElmer reported earnings per share of $0.68 during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.4%. The firm is scheduled to report its next earnings report on Thursday, November 2nd.

On average, analysts expect that PerkinElmer will report full year earnings of $2.89 per share for the current year, with EPS estimates ranging from $2.85 to $3.00. For the next financial year, analysts expect that the firm will post earnings of $3.30 per share, with EPS estimates ranging from $3.13 to $3.59. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover PerkinElmer.

PerkinElmer (NYSE:PKI) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.67 earnings per share for the quarter, hitting the consensus estimate of $0.67. The company had revenue of $547.00 million for the quarter, compared to the consensus estimate of $554.14 million. PerkinElmer had a net margin of 16.80% and a return on equity of 13.44%. PerkinElmer’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS.

A number of analysts have weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $77.00 price objective (down previously from $79.00) on shares of PerkinElmer in a report on Friday. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $67.00 price objective on shares of PerkinElmer in a report on Tuesday, September 26th. Citigroup Inc. reissued a “buy” rating and set a $80.00 price objective (up previously from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. Cowen and Company reissued a “hold” rating and set a $70.00 price objective on shares of PerkinElmer in a report on Friday, September 1st. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $81.00 price objective on shares of PerkinElmer in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.77.

PerkinElmer (PKI) traded up 0.34% during mid-day trading on Wednesday, reaching $70.61. 300,596 shares of the company’s stock traded hands. The stock’s 50 day moving average is $67.73 and its 200-day moving average is $64.36. The stock has a market capitalization of $7.78 billion, a PE ratio of 21.29 and a beta of 0.72. PerkinElmer has a 52 week low of $45.35 and a 52 week high of $70.61.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be issued a $0.07 dividend. The ex-dividend date is Thursday, October 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.40%. PerkinElmer’s payout ratio is 8.46%.

Large investors have recently bought and sold shares of the stock. Credit Suisse AG grew its position in PerkinElmer by 6.5% in the 1st quarter. Credit Suisse AG now owns 108,618 shares of the medical research company’s stock valued at $6,306,000 after buying an additional 6,665 shares during the last quarter. Ontario Teachers Pension Plan Board grew its position in PerkinElmer by 36.3% in the 2nd 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 last quarter. Morgan Stanley grew its position in PerkinElmer by 10.5% in the 1st 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 last quarter. Neuberger Berman Group LLC grew its position in PerkinElmer by 59.8% in the 2nd 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 last quarter. Finally, Legal & General Group Plc grew its position in PerkinElmer by 13.0% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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About PerkinElmer

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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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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