Zacks: Brokerages Expect PerkinElmer, Inc. (PKI) to Announce $0.94 EPS

Analysts expect that PerkinElmer, Inc. (NYSE:PKI) will report earnings per share (EPS) of $0.94 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PerkinElmer’s earnings. The lowest EPS estimate is $0.92 and the highest is $0.95. PerkinElmer posted earnings of $0.83 per share in the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The firm is expected 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 fiscal year, with EPS estimates ranging from $2.87 to $2.92. For the next financial year, analysts expect that the company will post earnings of $3.16 per share, with EPS estimates ranging from $3.13 to $3.20. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow PerkinElmer.

Several brokerages have commented on PKI. Citigroup reaffirmed a “buy” rating and set a $80.00 target price (up from $74.00) on shares of PerkinElmer in a report on Tuesday, September 26th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $67.00 target price on shares of PerkinElmer in a report on Tuesday, September 26th. ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Morgan Stanley lifted their target price on PerkinElmer from $77.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. Finally, Cowen reaffirmed a “hold” rating and set a $70.00 target price on shares of PerkinElmer in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.64.

In other news, Director Peter Barrett sold 7,071 shares of PerkinElmer stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $71.07, for a total value of $502,535.97. Following the completion of the transaction, the director now directly owns 26,271 shares of the company’s stock, valued at approximately $1,867,079.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Alexis P. Michas sold 5,000 shares of PerkinElmer stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $73.18, for a total value of $365,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,121 shares of company stock valued at $2,569,252. Corporate insiders own 2.20% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC increased its position in PerkinElmer by 185.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,000 shares of the medical research company’s stock valued at $136,000 after buying an additional 1,300 shares in the last quarter. LS Investment Advisors LLC increased its position in PerkinElmer by 2.1% in the 2nd quarter. LS Investment Advisors LLC now owns 2,877 shares of the medical research company’s stock valued at $196,000 after buying an additional 60 shares in the last quarter. Waldron LP bought a new stake in PerkinElmer in the 3rd quarter valued at about $200,000. Seaward Management Limited Partnership bought a new stake in PerkinElmer in the 3rd quarter valued at about $202,000. Finally, Carret Asset Management LLC bought a new stake in PerkinElmer in the 2nd quarter valued at about $210,000. 91.66% of the stock is owned by institutional investors and hedge funds.

Shares of PerkinElmer (NYSE:PKI) traded up $0.18 on Friday, reaching $69.54. The company’s stock had a trading volume of 616,114 shares, compared to its average volume of 632,414. The firm has a market cap of $7,691.51, a P/E ratio of 25.10, a PEG ratio of 2.09 and a beta of 0.77. PerkinElmer has a 52-week low of $50.59 and a 52-week high of $74.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.59 and a quick ratio of 2.09.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, January 18th. PerkinElmer’s dividend payout ratio (DPR) is presently 7.78%.

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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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