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Thermo Fisher Scientific (TMO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw Thermo Fisher Scientific (TMO - Free Report) ending at $498.02, denoting a -0.88% adjustment from its last day's close. This change lagged the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.12%.
The maker of scientific instrument and laboratory supplies's stock has dropped by 6.38% in the past month, falling short of the Medical sector's loss of 4.65% and the S&P 500's loss of 5.53%.
Analysts and investors alike will be keeping a close eye on the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to go public on October 25, 2023. The company is predicted to post an EPS of $5.67, indicating a 11.61% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.65 billion, indicating a 0.29% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $22.37 per share and revenue of $43.54 billion, indicating changes of -3.74% and -3.07%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Thermo Fisher Scientific. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Thermo Fisher Scientific currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Thermo Fisher Scientific is currently exchanging hands at a Forward P/E ratio of 22.47. This indicates a discount in contrast to its industry's Forward P/E of 24.74.
Also, we should mention that TMO has a PEG ratio of 2.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Medical - Instruments industry was having an average PEG ratio of 2.08.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Thermo Fisher Scientific (TMO) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw Thermo Fisher Scientific (TMO - Free Report) ending at $498.02, denoting a -0.88% adjustment from its last day's close. This change lagged the S&P 500's 0.13% loss on the day. Elsewhere, the Dow saw a downswing of 0.03%, while the tech-heavy Nasdaq depreciated by 0.12%.
The maker of scientific instrument and laboratory supplies's stock has dropped by 6.38% in the past month, falling short of the Medical sector's loss of 4.65% and the S&P 500's loss of 5.53%.
Analysts and investors alike will be keeping a close eye on the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to go public on October 25, 2023. The company is predicted to post an EPS of $5.67, indicating a 11.61% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.65 billion, indicating a 0.29% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $22.37 per share and revenue of $43.54 billion, indicating changes of -3.74% and -3.07%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Thermo Fisher Scientific. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Thermo Fisher Scientific currently has a Zacks Rank of #4 (Sell).
From a valuation perspective, Thermo Fisher Scientific is currently exchanging hands at a Forward P/E ratio of 22.47. This indicates a discount in contrast to its industry's Forward P/E of 24.74.
Also, we should mention that TMO has a PEG ratio of 2.37. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Medical - Instruments industry was having an average PEG ratio of 2.08.
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 101, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.