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Assertio (ASRT) Stock Moves -1.12%: What You Should Know
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Assertio (ASRT - Free Report) closed at $2.65 in the latest trading session, marking a -1.12% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.5%. Elsewhere, the Dow lost 1.55%, while the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the drugmaker had gained 16.02% over the past month, outpacing the Medical sector's gain of 8.65% and the S&P 500's gain of 7.7% in that time.
Investors will be hoping for strength from Assertio as it approaches its next earnings release, which is expected to be November 8, 2022. The company is expected to report EPS of $0.07, down 12.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $31.33 million, up 23.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.51 per share and revenue of $135.86 million. These totals would mark changes of +1800% and +22.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Assertio. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Assertio is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Assertio is currently trading at a Forward P/E ratio of 5.22. For comparison, its industry has an average Forward P/E of 14.11, which means Assertio is trading at a discount to the group.
It is also worth noting that ASRT currently has a PEG ratio of 0.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Drugs industry currently had an average PEG ratio of 0.96 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Assertio (ASRT) Stock Moves -1.12%: What You Should Know
Assertio (ASRT - Free Report) closed at $2.65 in the latest trading session, marking a -1.12% move from the prior day. This move was narrower than the S&P 500's daily loss of 2.5%. Elsewhere, the Dow lost 1.55%, while the tech-heavy Nasdaq lost 0.19%.
Heading into today, shares of the drugmaker had gained 16.02% over the past month, outpacing the Medical sector's gain of 8.65% and the S&P 500's gain of 7.7% in that time.
Investors will be hoping for strength from Assertio as it approaches its next earnings release, which is expected to be November 8, 2022. The company is expected to report EPS of $0.07, down 12.5% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $31.33 million, up 23.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.51 per share and revenue of $135.86 million. These totals would mark changes of +1800% and +22.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Assertio. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Assertio is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Assertio is currently trading at a Forward P/E ratio of 5.22. For comparison, its industry has an average Forward P/E of 14.11, which means Assertio is trading at a discount to the group.
It is also worth noting that ASRT currently has a PEG ratio of 0.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Drugs industry currently had an average PEG ratio of 0.96 as of yesterday's close.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.