PerkinElmer, Inc. (NYSE:PKI) Issues FY17 Earnings Guidance
PerkinElmer, Inc. (NYSE:PKI) updated its FY17 earnings guidance on Thursday. The company provided EPS guidance of $2.84-2.92 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.85.
Several research firms have recently issued reports on PKI. Jefferies Group LLC reissued a hold rating and issued a $69.00 price target (up previously from $58.00) on shares of PerkinElmer in a research note on Tuesday, June 20th. Cantor Fitzgerald reissued a hold rating and issued a $65.00 price target on shares of PerkinElmer in a research note on Monday, May 15th. Barclays PLC set a $55.00 price target on PerkinElmer and gave the stock a sell rating in a research note on Saturday, May 6th. Citigroup Inc. increased their price target on PerkinElmer from $57.00 to $67.00 and gave the stock a buy rating in a research note on Friday, April 7th. Finally, BidaskClub cut PerkinElmer from a strong-buy rating to a buy rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. PerkinElmer currently has a consensus rating of Hold and an average target price of $64.93.
Shares of PerkinElmer, Inc. (NYSE PKI) traded down 3.10% during midday trading on Friday, hitting $64.29. The stock had a trading volume of 1,510,742 shares. The firm has a market capitalization of $7.07 billion, a PE ratio of 31.35 and a beta of 0.75. The firm’s 50-day moving average price is $67.63 and its 200-day moving average price is $60.20. PerkinElmer, Inc. has a one year low of $45.35 and a one year high of $70.16.
PerkinElmer (NYSE:PKI) last released its earnings results on Thursday, August 3rd. The medical research company reported $0.67 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.67. The company had revenue of $547 million during the quarter, compared to analysts’ expectations of $554.14 million. PerkinElmer had a return on equity of 13.87% and a net margin of 16.80%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. On average, equities analysts predict that PerkinElmer, Inc. will post $2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 20th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.28 annualized dividend and a dividend yield of 0.44%. PerkinElmer’s dividend payout ratio (DPR) is currently 8.46%.
In other news, insider Andrew Okun sold 4,358 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $65.00, for a total value of $283,270.00. Following the transaction, the insider now directly owns 16,799 shares in the company, valued at approximately $1,091,935. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick J. Sullivan sold 6,628 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $62.59, for a total value of $414,846.52. Following the completion of the transaction, the director now owns 42,951 shares in the company, valued at $2,688,303.09. The disclosure for this sale can be found here. Insiders sold a total of 20,986 shares of company stock worth $1,330,317 over the last 90 days. 2.20% of the stock is owned by corporate insiders.
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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