Q1 2017 Earnings Forecast for PerkinElmer Inc. Issued By Jefferies Group (PKI)
PerkinElmer Inc. (NYSE:PKI) – Jefferies Group lowered their Q1 2017 earnings estimates for PerkinElmer in a report issued on Tuesday. Jefferies Group analyst B. Couillard now forecasts that the brokerage will post earnings of $0.61 per share for the quarter, down from their previous estimate of $0.70. Jefferies Group currently has a “Hold” rating and a $55.00 target price on the stock. Jefferies Group also issued estimates for PerkinElmer’s Q4 2017 earnings at $0.92 EPS.
PerkinElmer (NYSE:PKI) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $548 million for the quarter, compared to analysts’ expectations of $572.03 million. PerkinElmer had a net margin of 10.48% and a return on equity of 14.64%. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share.
PKI has been the subject of a number of other reports. Zacks Investment Research downgraded shares of PerkinElmer from a “hold” rating to a “sell” rating in a research report on Monday, October 17th. Barclays PLC reissued a “sell” rating and set a $50.00 target price on shares of PerkinElmer in a research report on Tuesday. BTIG Research reissued a “hold” rating on shares of PerkinElmer in a research report on Friday, August 5th. Mizuho downgraded shares of PerkinElmer from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of PerkinElmer from $52.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.92.
PerkinElmer (NYSE:PKI) opened at 50.79 on Wednesday. The company has a market capitalization of $5.56 billion, a PE ratio of 24.27 and a beta of 0.94. PerkinElmer has a 52 week low of $39.50 and a 52 week high of $57.28. The company has a 50-day moving average of $53.21 and a 200-day moving average of $53.73.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 20th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, January 18th. PerkinElmer’s dividend payout ratio is presently 13.02%.
In other news, insider Joel S. Goldberg sold 38,095 shares of the stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $55.00, for a total value of $2,095,225.00. Following the transaction, the insider now owns 96,299 shares of the company’s stock, valued at approximately $5,296,445. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick J. Sullivan sold 8,308 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $54.74, for a total transaction of $454,779.92. Following the completion of the transaction, the director now directly owns 41,829 shares in the company, valued at approximately $2,289,719.46. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of PerkinElmer by 111.5% in the third quarter. Ameriprise Financial Inc. now owns 988,344 shares of the company’s stock worth $55,459,000 after buying an additional 520,979 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of PerkinElmer by 1,298.8% in the second quarter. Riverhead Capital Management LLC now owns 545,600 shares of the company’s stock worth $7,998,000 after buying an additional 506,594 shares during the last quarter. Vanguard Group Inc. raised its position in shares of PerkinElmer by 5.2% in the second quarter. Vanguard Group Inc. now owns 9,959,777 shares of the company’s stock worth $522,092,000 after buying an additional 494,551 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of PerkinElmer by 132.5% in the second quarter. Thrivent Financial for Lutherans now owns 648,650 shares of the company’s stock worth $34,002,000 after buying an additional 369,700 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of PerkinElmer by 11.5% in the third quarter. Victory Capital Management Inc. now owns 3,425,679 shares of the company’s stock worth $192,215,000 after buying an additional 351,986 shares during the last quarter. 90.17% of the stock is currently owned by hedge funds and other institutional investors.
PerkinElmer, Inc is a provider of products, services and solutions to the diagnostics, research, environmental and laboratory markets. The Company’s operating segments include Human Health, Environmental Health and Corporate. The Human Health segment concentrates on developing diagnostics, tools and applications to help detect diseases earlier.
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