Zacks: Analysts Anticipate PerkinElmer (PKI) Will Announce Quarterly Sales of $615.86 Million

Analysts forecast that PerkinElmer (NYSE:PKI) will report sales of $615.86 million for the current fiscal quarter, Zacks reports. Six analysts have made estimates for PerkinElmer’s earnings. The lowest sales estimate is $614.56 million and the highest is $617.20 million. PerkinElmer reported sales of $514.12 million in the same quarter last year, which indicates a positive year over year growth rate of 19.8%. The company is expected to issue its next quarterly earnings report on Thursday, May 3rd.

According to Zacks, analysts expect that PerkinElmer will report full-year sales of $615.86 million for the current fiscal year, with estimates ranging from $2.73 billion to $2.76 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.90 billion per share, with estimates ranging from $2.88 billion to $2.96 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for PerkinElmer.

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PerkinElmer (NYSE:PKI) last released its quarterly earnings results on Thursday, January 25th. The medical research company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.03. PerkinElmer had a net margin of 12.97% and a return on equity of 13.30%. The business had revenue of $641.63 million for the quarter, compared to analyst estimates of $619.14 million. During the same period last year, the firm earned $0.83 earnings per share. PerkinElmer’s revenue for the quarter was up 13.2% compared to the same quarter last year.

PKI has been the topic of a number of recent research reports. Bank of America raised shares of PerkinElmer from an “underperform” rating to a “neutral” rating and set a $78.00 price target on the stock in a research report on Tuesday, December 19th. Evercore ISI started coverage on shares of PerkinElmer in a research report on Wednesday, January 3rd. They set an “in-line” rating and a $77.00 price target on the stock. Zacks Investment Research upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, January 8th. Cowen reiterated a “hold” rating and set a $84.00 price objective on shares of PerkinElmer in a research note on Friday, January 26th. Finally, ValuEngine upgraded shares of PerkinElmer from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.85.

In other news, insider Andrew Okun sold 2,273 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $77.86, for a total value of $176,975.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank Anders Wilson sold 103,656 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $73.94, for a total transaction of $7,664,324.64. Following the completion of the sale, the insider now owns 93,624 shares in the company, valued at $6,922,558.56. The disclosure for this sale can be found here. Insiders have sold 108,253 shares of company stock worth $8,016,623 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PKI. Nationwide Fund Advisors boosted its stake in shares of PerkinElmer by 2.8% in the 3rd quarter. Nationwide Fund Advisors now owns 31,430 shares of the medical research company’s stock valued at $2,168,000 after purchasing an additional 851 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of PerkinElmer by 2.9% in the 3rd quarter. New York State Common Retirement Fund now owns 266,801 shares of the medical research company’s stock valued at $18,401,000 after purchasing an additional 7,600 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of PerkinElmer in the 3rd quarter valued at approximately $466,000. Macquarie Group Ltd. boosted its stake in shares of PerkinElmer by 34.0% in the 3rd quarter. Macquarie Group Ltd. now owns 56,700 shares of the medical research company’s stock valued at $3,911,000 after purchasing an additional 14,400 shares in the last quarter. Finally, ETRADE Capital Management LLC acquired a new stake in shares of PerkinElmer in the 3rd quarter valued at approximately $305,000. Institutional investors own 91.94% of the company’s stock.

NYSE:PKI traded down $2.70 during mid-day trading on Friday, reaching $73.20. 511,587 shares of the company’s stock were exchanged, compared to its average volume of 667,119. PerkinElmer has a one year low of $56.21 and a one year high of $84.49. The firm has a market cap of $8,088.89, a price-to-earnings ratio of 25.24, a P/E/G ratio of 1.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.89 and a current ratio of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, April 12th. This represents a $0.28 dividend on an annualized basis and a yield of 0.38%. PerkinElmer’s payout ratio is 9.66%.

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About PerkinElmer

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, research, environmental, industrial, food, and laboratory services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment develops and offers analytical technologies, solutions, and services for the environmental market that enable its customers to understand the characterization and health of various aspects, including air, water, and soil.

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