Jefferies Financial Group Research Analysts Decrease Earnings Estimates for PerkinElmer, Inc. (NYSE:PKI)

PerkinElmer, Inc. (NYSE:PKI) – Investment analysts at Jefferies Financial Group reduced their Q3 2019 EPS estimates for shares of PerkinElmer in a research report issued to clients and investors on Tuesday, July 30th, Zacks Investment Research reports. Jefferies Financial Group analyst B. Couillard now anticipates that the medical research company will post earnings of $1.01 per share for the quarter, down from their prior forecast of $1.02. Jefferies Financial Group also issued estimates for PerkinElmer’s FY2019 earnings at $4.03 EPS.

PerkinElmer (NYSE:PKI) last announced its earnings results on Monday, July 29th. The medical research company reported $1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.01). The company had revenue of $722.50 million during the quarter, compared to analysts’ expectations of $729.10 million. PerkinElmer had a return on equity of 16.07% and a net margin of 9.01%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 earnings per share.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $41.00 target price on shares of PerkinElmer in a report on Friday, May 3rd. ValuEngine downgraded PerkinElmer from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Wolfe Research assumed coverage on PerkinElmer in a report on Thursday, May 30th. They set a “peer perform” rating for the company. Raymond James started coverage on PerkinElmer in a report on Wednesday, July 10th. They set an “outperform” rating for the company. Finally, UBS Group increased their price objective on PerkinElmer from $99.00 to $101.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $78.58.

Shares of PKI traded down $1.84 during mid-day trading on Thursday, reaching $80.76. The stock had a trading volume of 639,006 shares, compared to its average volume of 728,721. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.89 and a quick ratio of 1.31. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 1.46 and a beta of 1.25. The business’s fifty day moving average is $89.53 and its 200 day moving average is $92.48. PerkinElmer has a 52-week low of $71.83 and a 52-week high of $103.00.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.35%. PerkinElmer’s payout ratio is currently 7.76%.

Several hedge funds have recently added to or reduced their stakes in PKI. Vanguard Group Inc. grew its position in PerkinElmer by 1.2% during the second quarter. Vanguard Group Inc. now owns 12,240,161 shares of the medical research company’s stock worth $1,179,217,000 after buying an additional 142,928 shares in the last quarter. BlackRock Inc. raised its position in PerkinElmer by 10.8% during the second quarter. BlackRock Inc. now owns 7,400,482 shares of the medical research company’s stock worth $712,962,000 after acquiring an additional 721,797 shares during the period. Pictet Asset Management Ltd. raised its position in PerkinElmer by 13.8% during the second quarter. Pictet Asset Management Ltd. now owns 2,487,165 shares of the medical research company’s stock worth $239,613,000 after acquiring an additional 300,675 shares during the period. King Luther Capital Management Corp raised its position in PerkinElmer by 0.4% during the second quarter. King Luther Capital Management Corp now owns 2,486,150 shares of the medical research company’s stock worth $239,516,000 after acquiring an additional 8,856 shares during the period. Finally, Geode Capital Management LLC raised its position in PerkinElmer by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,522,499 shares of the medical research company’s stock worth $119,450,000 after acquiring an additional 124,168 shares during the period. Institutional investors own 97.24% of the company’s stock.

PerkinElmer Company Profile

PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. The company operates in two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as laboratory services.

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Earnings History and Estimates for PerkinElmer (NYSE:PKI)

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