PerkinElmer (NYSE:PKI) Releases Earnings Results, Beats Estimates By $0.69 EPS

PerkinElmer (NYSE:PKI) issued its earnings results on Tuesday. The medical research company reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.69, MarketWatch Earnings reports. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.18 billion. PerkinElmer had a net margin of 12.74% and a return on equity of 21.57%. The company’s revenue was up 100.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share.

NYSE PKI traded down $2.75 during trading hours on Tuesday, hitting $127.81. 1,346,046 shares of the stock were exchanged, compared to its average volume of 996,559. PerkinElmer has a 12-month low of $88.27 and a 12-month high of $162.70. The company has a quick ratio of 0.96, a current ratio of 1.35 and a debt-to-equity ratio of 0.46. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 0.99 and a beta of 1.19. The stock has a 50-day moving average of $130.92 and a 200 day moving average of $136.45.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 6th. Investors of record on Friday, July 16th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, July 15th. This represents a $0.28 annualized dividend and a yield of 0.22%. PerkinElmer’s dividend payout ratio is currently 6.83%.

PKI has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of PerkinElmer from $150.00 to $155.00 in a research note on Wednesday, February 3rd. Wells Fargo & Company upgraded shares of PerkinElmer from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $175.00 in a research note on Thursday, January 7th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $133.93.

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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Earnings History for PerkinElmer (NYSE:PKI)

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