PerkinElmer, Inc. (PKI) Expected to Post Quarterly Sales of $674.44 Million
Analysts predict that PerkinElmer, Inc. (NYSE:PKI) will announce sales of $674.44 million for the current quarter, according to Zacks. Six analysts have made estimates for PerkinElmer’s earnings, with the highest sales estimate coming in at $676.60 million and the lowest estimate coming in at $668.42 million. PerkinElmer reported sales of $554.28 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.7%. The firm is scheduled to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that PerkinElmer will report full year sales of $2.78 billion for the current year, with estimates ranging from $2.77 billion to $2.80 billion. For the next year, analysts forecast that the business will report sales of $2.94 billion per share, with estimates ranging from $2.90 billion to $3.02 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for PerkinElmer.
PerkinElmer (NYSE:PKI) last issued its quarterly earnings results on Wednesday, August 1st. The medical research company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business had revenue of $703.55 million during the quarter, compared to analyst estimates of $694.70 million. PerkinElmer had a net margin of 5.51% and a return on equity of 14.25%. The business’s revenue was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share.
Shares of NYSE:PKI traded down $0.84 during midday trading on Tuesday, reaching $93.57. The company had a trading volume of 499,288 shares, compared to its average volume of 637,714. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. The firm has a market cap of $10.30 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.06 and a beta of 1.01. PerkinElmer has a one year low of $67.44 and a one year high of $94.76.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.30%. PerkinElmer’s payout ratio is 9.66%.
In other news, Director Nicholas A. Lopardo sold 2,700 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $92.28, for a total transaction of $249,156.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Robert F. Friel sold 2,709 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $80.00, for a total transaction of $216,720.00. Following the transaction, the chief executive officer now owns 575,366 shares of the company’s stock, valued at approximately $46,029,280. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,694 shares of company stock valued at $5,112,810. 2.10% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Lbmc Investment Advisors LLC bought a new position in shares of PerkinElmer during the second quarter worth about $469,000. Schwab Charles Investment Management Inc. grew its position in shares of PerkinElmer by 6.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 715,647 shares of the medical research company’s stock worth $52,407,000 after acquiring an additional 45,631 shares during the last quarter. Sivik Global Healthcare LLC bought a new position in shares of PerkinElmer during the first quarter worth about $3,407,000. First Trust Advisors LP grew its position in shares of PerkinElmer by 11.2% during the second quarter. First Trust Advisors LP now owns 151,002 shares of the medical research company’s stock worth $11,058,000 after acquiring an additional 15,235 shares during the last quarter. Finally, Dean Capital Investments Management LLC grew its position in shares of PerkinElmer by 86.1% during the second quarter. Dean Capital Investments Management LLC now owns 7,034 shares of the medical research company’s stock worth $515,000 after acquiring an additional 3,255 shares during the last quarter. Institutional investors and hedge funds own 95.72% of the company’s stock.
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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