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Agilent Technologies (A) Gains As Market Dips: What You Should Know
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In the latest trading session, Agilent Technologies (A - Free Report) closed at $128.47, marking a +0.91% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the scientific instrument maker had gained 8.77% over the past month. This has outpaced the Computer and Technology sector's gain of 3.63% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Agilent Technologies as it approaches its next earnings release, which is expected to be August 15, 2023. The company is expected to report EPS of $1.37, up 2.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.66 billion, down 3.56% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $6.99 billion, which would represent changes of +7.47% and +2.07%, respectively, from the prior year.
Any recent changes to analyst estimates for Agilent Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.04% lower within the past month. Agilent Technologies is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Agilent Technologies has a Forward P/E ratio of 22.69 right now. Its industry sports an average Forward P/E of 25.96, so we one might conclude that Agilent Technologies is trading at a discount comparatively.
It is also worth noting that A currently has a PEG ratio of 2.06. 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. Electronics - Testing Equipment stocks are, on average, holding a PEG ratio of 2.86 based on yesterday's closing prices.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Agilent Technologies (A) Gains As Market Dips: What You Should Know
In the latest trading session, Agilent Technologies (A - Free Report) closed at $128.47, marking a +0.91% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.12%.
Prior to today's trading, shares of the scientific instrument maker had gained 8.77% over the past month. This has outpaced the Computer and Technology sector's gain of 3.63% and the S&P 500's gain of 5.14% in that time.
Investors will be hoping for strength from Agilent Technologies as it approaches its next earnings release, which is expected to be August 15, 2023. The company is expected to report EPS of $1.37, up 2.24% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.66 billion, down 3.56% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.61 per share and revenue of $6.99 billion, which would represent changes of +7.47% and +2.07%, respectively, from the prior year.
Any recent changes to analyst estimates for Agilent Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 has moved 0.04% lower within the past month. Agilent Technologies is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Agilent Technologies has a Forward P/E ratio of 22.69 right now. Its industry sports an average Forward P/E of 25.96, so we one might conclude that Agilent Technologies is trading at a discount comparatively.
It is also worth noting that A currently has a PEG ratio of 2.06. 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. Electronics - Testing Equipment stocks are, on average, holding a PEG ratio of 2.86 based on yesterday's closing prices.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.