PerkinElmer, Inc. (NYSE:PKI) Plans Quarterly Dividend of $0.07
PerkinElmer, Inc. (NYSE:PKI) declared a quarterly dividend on Monday, July 24th, RTT News reports. Stockholders of record on Friday, October 20th will be paid a dividend of 0.07 per share by the medical research company on Friday, November 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.40%.
PerkinElmer has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect PerkinElmer to earn $3.18 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 8.8%.
Shares of PerkinElmer (PKI) traded down 0.22% during trading on Monday, hitting $69.37. The stock had a trading volume of 348,629 shares. The stock’s 50 day moving average is $67.00 and its 200 day moving average is $59.34. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 33.82 and a beta of 0.76. PerkinElmer has a 52 week low of $45.35 and a 52 week high of $70.16.
PerkinElmer (NYSE:PKI) last issued its earnings results on Thursday, May 4th. The medical research company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.54 by $0.01. The company had revenue of $514.12 million during the quarter, compared to analysts’ expectations of $506.81 million. PerkinElmer had a net margin of 10.24% and a return on equity of 13.97%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. On average, equities research analysts expect that PerkinElmer will post $2.86 earnings per share for the current fiscal year.
In related news, insider Robert F. Friel sold 25,100 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $60.00, for a total value of $1,506,000.00. Following the completion of the transaction, the insider now directly owns 597,071 shares of the company’s stock, valued at approximately $35,824,260. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert F. Friel sold 124,837 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $60.11, for a total transaction of $7,503,952.07. Following the completion of the transaction, the insider now directly owns 696,810 shares of the company’s stock, valued at $41,885,249.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,923 shares of company stock valued at $10,340,269. Company insiders own 2.20% of the company’s stock.
Several analysts have commented on the stock. Cowen and Company reiterated a “market perform” rating and set a $70.00 target price (up previously from $61.00) on shares of PerkinElmer in a research report on Tuesday, June 20th. Jefferies Group LLC restated a “hold” rating and issued a $49.00 price objective on shares of PerkinElmer in a research report on Monday, May 15th. Wells Fargo & Company assumed coverage on shares of PerkinElmer in a research report on Thursday, July 13th. They issued a “market perform” rating and a $72.00 price objective for the company. BidaskClub cut shares of PerkinElmer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Cantor Fitzgerald cut shares of PerkinElmer from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. PerkinElmer has a consensus rating of “Hold” and a consensus price target of $64.14.
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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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