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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
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In the latest market close, Thermo Fisher Scientific (TMO - Free Report) reached $482.85, with a +0.06% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 1.23%.
Shares of the maker of scientific instrument and laboratory supplies have depreciated by 6.42% over the course of the past month, underperforming the Medical sector's loss of 4.84% and the S&P 500's loss of 2.4%.
Investors will be eagerly watching for the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 25, 2023. The company is expected to report EPS of $5.67, up 11.61% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $10.65 billion, indicating a 0.29% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $22.37 per share and a revenue of $43.54 billion, indicating changes of -3.74% and -3.07%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Thermo Fisher Scientific. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Thermo Fisher Scientific is currently sporting a Zacks Rank of #2 (Buy).
From a valuation perspective, Thermo Fisher Scientific is currently exchanging hands at a Forward P/E ratio of 21.58. This denotes a discount relative to the industry's average Forward P/E of 24.08.
Meanwhile, TMO's PEG ratio is currently 2.27. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Instruments industry stood at 2 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
In the latest market close, Thermo Fisher Scientific (TMO - Free Report) reached $482.85, with a +0.06% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.5%. On the other hand, the Dow registered a gain of 0.12%, and the technology-centric Nasdaq decreased by 1.23%.
Shares of the maker of scientific instrument and laboratory supplies have depreciated by 6.42% over the course of the past month, underperforming the Medical sector's loss of 4.84% and the S&P 500's loss of 2.4%.
Investors will be eagerly watching for the performance of Thermo Fisher Scientific in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 25, 2023. The company is expected to report EPS of $5.67, up 11.61% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $10.65 billion, indicating a 0.29% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $22.37 per share and a revenue of $43.54 billion, indicating changes of -3.74% and -3.07%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Thermo Fisher Scientific. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Thermo Fisher Scientific is currently sporting a Zacks Rank of #2 (Buy).
From a valuation perspective, Thermo Fisher Scientific is currently exchanging hands at a Forward P/E ratio of 21.58. This denotes a discount relative to the industry's average Forward P/E of 24.08.
Meanwhile, TMO's PEG ratio is currently 2.27. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Instruments industry stood at 2 at the close of the market yesterday.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.