PerkinElmer (PKI) Releases FY 2018 Earnings Guidance

PerkinElmer (NYSE:PKI) issued an update on its FY 2018 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.60-3.60 for the period, compared to the Thomson Reuters consensus estimate of $3.66.

PerkinElmer stock traded up $0.80 during mid-day trading on Wednesday, hitting $86.48. The company had a trading volume of 1,146,000 shares, compared to its average volume of 635,973. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.79. PerkinElmer has a 12 month low of $69.21 and a 12 month high of $98.33. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00.

PerkinElmer (NYSE:PKI) last released its earnings results on Wednesday, August 1st. The medical research company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. PerkinElmer had a return on equity of 14.25% and a net margin of 5.51%. The business had revenue of $703.55 million for the quarter, compared to the consensus estimate of $694.70 million. During the same period in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. On average, equities research analysts predict that PerkinElmer will post 3.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.32%. The ex-dividend date is Thursday, January 17th. PerkinElmer’s dividend payout ratio (DPR) is 9.66%.

Several research analysts have recently weighed in on the company. Robert W. Baird restated a buy rating and issued a $89.00 price target on shares of PerkinElmer in a research note on Thursday, August 2nd. ValuEngine upgraded PerkinElmer from a hold rating to a buy rating in a research note on Thursday, July 26th. Cleveland Research upgraded PerkinElmer from a neutral rating to a buy rating in a research note on Thursday, August 30th. Barclays upgraded PerkinElmer from an underweight rating to an equal weight rating and boosted their price target for the stock from $79.00 to $90.00 in a research note on Wednesday, September 5th. Finally, Deutsche Bank boosted their price target on PerkinElmer from $88.00 to $93.00 and gave the stock a hold rating in a research note on Monday, September 10th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. PerkinElmer presently has a consensus rating of Hold and a consensus price target of $87.84.

In related news, insider Deborah A. Butters sold 3,266 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $97.70, for a total transaction of $319,088.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joel S. Goldberg sold 34,608 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $85.00, for a total value of $2,941,680.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,734 shares of company stock valued at $5,928,535. 2.10% of the stock is owned by company insiders.

PerkinElmer Company Profile

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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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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