PerkinElmer (PKI) Issues FY19 Earnings Guidance

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PerkinElmer (NYSE:PKI) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.00-4.05 for the period, compared to the Thomson Reuters consensus estimate of $4.03.

Shares of NYSE:PKI traded up $0.23 on Thursday, hitting $90.50. The company had a trading volume of 879,240 shares, compared to its average volume of 615,159. The company has a market capitalization of $10.04 billion, a P/E ratio of 31.21, a P/E/G ratio of 1.76 and a beta of 1.11. PerkinElmer has a 52-week low of $70.74 and a 52-week high of $98.33. The company has a quick ratio of 1.18, a current ratio of 1.70 and a debt-to-equity ratio of 0.73.

PerkinElmer (NYSE:PKI) last released its earnings results on Wednesday, October 31st. The medical research company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $674.30 million for the quarter, compared to the consensus estimate of $676.72 million. PerkinElmer had a return on equity of 15.04% and a net margin of 4.71%. The company’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 EPS. On average, sell-side analysts anticipate that PerkinElmer will post 3.6 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Wednesday, April 17th. PerkinElmer’s dividend payout ratio is presently 9.66%.

Several research firms have weighed in on PKI. Morgan Stanley raised their target price on PerkinElmer from $95.00 to $100.00 and gave the company an overweight rating in a report on Wednesday, October 10th. UBS Group started coverage on shares of PerkinElmer in a research report on Tuesday, October 9th. They issued a neutral rating and a $100.00 price objective for the company. Desjardins reissued an average rating and issued a $45.00 price target on shares of PerkinElmer in a report on Wednesday, January 16th. Janney Montgomery Scott lowered shares of PerkinElmer from a buy rating to a neutral rating in a research note on Friday, November 2nd. Finally, CIBC reaffirmed an average rating and issued a $44.50 target price on shares of PerkinElmer in a report on Thursday, January 10th. Ten equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $79.74.

In other PerkinElmer news, Director Alexis P. Michas sold 5,000 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $90.95, for a total value of $454,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Patrick J. Sullivan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $81.64, for a total value of $816,400.00. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $1,609,550 over the last quarter. 2.10% of the stock is currently owned by corporate insiders.

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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 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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