PKI Downgraded to Underperform - Analyst Blog
20 Mayo 2013 - 2:10PM
Zacks
On May 16, 2013, we downgraded our
recommendation on PerkinElmer Inc. (PKI) to
Underperform based on its first quarter earnings results and
reduced guidance.
On Apr 25, PerkinElmer announced
its results for the reported quarter. The company reported
first-quarter adjusted (excluding one-time expenses) earnings per
share of 36 cents, missing the Zacks Consensus Estimate of 48 cents
and lower than the year-ago earnings per share of 43 cents.
Revenues stood at $505.4 million in
the reported quarter, down 1.1% year over year, missing the Zacks
Consensus Estimate of $534 million.
PerkinElmer cut guidance for 2013.
The company currently forecasts adjusted earnings per share for
2013 in the range of $2.00 to $2.10 (earlier $2.24 to $2.32).
Reported earnings per share from continuing operations are forecast
in the range of $1.30 to $1.40 (earlier $1.57 to $1.65). Organic
revenue is expected to increase in the low-single digit (earlier
mid-single digit) range.
While PerkinElmer has made several
acquisitions, the strategy has inherent risks and it remains a
collection of diverse businesses. Further, restructuring charges
are expected to grow in 2013. Also, the overall portfolio strategy
remains unclear.
Over the past month, the Zacks
Consensus Estimate for 2013 has dipped 6.1% to $2.05. The Zacks
Consensus Estimate for 2014 has gone down 8.1% over the same
timeframe.
The stock carries a Zacks Rank #5
(Strong Sell). We are more optimistic about Becton,
Dickinson and Company (BDX) and HeartWare
International Inc. (HTWR) each of which carries a Zacks
Rank #2 (Buy) and is expected to do well. In addition,
Conceptus, Inc. (CPTS) carries a Zacks Rank #1
(Strong Buy) and warrants a look.
BECTON DICKINSO (BDX): Free Stock Analysis Report
CONCEPTUS INC (CPTS): Free Stock Analysis Report
HEARTWARE INTL (HTWR): Free Stock Analysis Report
PERKINELMER INC (PKI): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Conceptus, Inc. (MM) (NASDAQ:CPTS)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Conceptus, Inc. (MM) (NASDAQ:CPTS)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024