PerkinElmer (NYSE:PKI) shares are trending higher today after the company announced that it expects to beat its previously-guided outlook regarding its upcoming Q3 results to be released on November 2.
In a press release, the company stated that it projects Q3 organic revenue growth, non-COVID-19 organic revenue growth, and adjusted earnings per share (EPS) to surpass the prior guidance range. During the Q2 earnings results, the company forecasted Q3 EPS to range between $1.40 to $1.45 per share. Currently, the Q3 consensus EPS is pegged at $1.43.
However, due to the impact of currency headwinds, total revenue is expected to land at the high end of the guidance range of $1.02 -$1.03 billion.
Based in the U.S., PerkinElmer is a leading global provider of end-to-end products, services, and solutions for diagnostics, food, environmental, life sciences, and applied markets.
Is PerkinElmer Stock a Buy, Sell, or Hold?
Turning to Wall Street, PKI stock has received two Buys, four Holds, and one Sell rating for a Hold consensus rating. PerkinElmer’s average price forecast of $168.57 implies 34.99% upside potential.
