PerkinElmer (NYSE:PKI) Releases Q1 2021 Earnings Guidance

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PerkinElmer (NYSE:PKI) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $1.29 billion-$1.29 billion, compared to the consensus revenue estimate of $1.19 billion.

Shares of PKI traded down $2.75 during midday trading on Tuesday, hitting $127.81. 1,350,726 shares of the company traded hands, compared to its average volume of 996,559. The firm has a 50 day moving average of $130.77 and a 200-day moving average of $136.41. PerkinElmer has a 52 week low of $88.27 and a 52 week high of $162.70. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 0.99 and a beta of 1.19. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.35.

PerkinElmer (NYSE:PKI) last released its quarterly earnings data on Tuesday, February 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.01 by $0.95. PerkinElmer had a net margin of 12.74% and a return on equity of 21.57%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The business’s revenue was up 68.2% on a year-over-year basis. Sell-side analysts predict that PerkinElmer will post 7.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Thursday, July 15th. PerkinElmer’s payout ratio is 6.83%.

A number of research analysts recently commented on PKI shares. Wells Fargo & Company raised shares of PerkinElmer from an equal weight rating to an overweight rating and increased their price target for the company from $140.00 to $175.00 in a report on Thursday, January 7th. Citigroup increased their price target on shares of PerkinElmer from $150.00 to $155.00 in a report on Wednesday, February 3rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $133.93.

About PerkinElmer

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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