PerkinElmer (NYSE:PKI) Updates Q4 Earnings Guidance


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PerkinElmer (NYSE:PKI) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of at least $3.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.85. PerkinElmer also updated its Q4 2020
Pre-Market guidance to 3.60 EPS.

Shares of NYSE:PKI opened at $151.52 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $143.51 and a 200 day simple moving average of $125.27. The company has a market cap of $16.97 billion, a PE ratio of 57.61, a P/E/G ratio of 1.74 and a beta of 1.30. PerkinElmer has a fifty-two week low of $62.91 and a fifty-two week high of $162.70.

PerkinElmer (NYSE:PKI) last posted its earnings results on Wednesday, October 28th. The medical research company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.67. The firm had revenue of $964.03 million during the quarter. PerkinElmer had a net margin of 9.87% and a return on equity of 18.40%. As a group, research analysts forecast that PerkinElmer will post 5.45 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $1.2144 per share. This represents a yield of 2.91%. The ex-dividend date of this dividend is Monday, December 21st. PerkinElmer’s payout ratio is 6.83%.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of PerkinElmer from a strong-buy rating to a hold rating and set a $126.00 target price for the company. in a research note on Monday, September 28th. Robert W. Baird upped their price target on shares of PerkinElmer from $137.00 to $151.00 and gave the stock an outperform rating in a research note on Thursday, October 29th. KeyCorp began coverage on shares of PerkinElmer in a research note on Monday, November 9th. They issued a sector weight rating and a $150.00 price target for the company. Needham & Company LLC upped their price target on shares of PerkinElmer from $139.00 to $193.00 and gave the stock a buy rating in a research note on Monday, November 9th. Finally, ValuEngine lowered shares of PerkinElmer from a hold rating to a sell rating in a research note on Monday, November 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $122.19.

In other PerkinElmer news, insider Prahlad R. Singh sold 10,636 shares of the company’s stock in a transaction that occurred on Tuesday, January 5th. The shares were sold at an average price of $150.00, for a total value of $1,595,400.00. Following the transaction, the insider now owns 50,537 shares in the company, valued at approximately $7,580,550. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Daniel R. Tereau sold 4,094 shares of the company’s stock in a transaction that occurred on Monday, December 14th. The shares were sold at an average price of $146.68, for a total transaction of $600,507.92. Insiders have sold 20,837 shares of company stock worth $3,051,743 in the last 90 days. 0.62% of the stock is owned by company insiders.

About PerkinElmer

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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