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Thermo Fisher Scientific (TMO) Gains As Market Dips: What You Should Know
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In the latest trading session, Thermo Fisher Scientific (TMO - Free Report) closed at $469.67, marking a +0.52% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Shares of the maker of scientific instrument and laboratory supplies have depreciated by 7.45% over the course of the past month, underperforming the Medical sector's loss of 3.49% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of Thermo Fisher Scientific in its upcoming release. The company plans to announce its earnings on October 25, 2023. The company is predicted to post an EPS of $5.63, indicating a 10.83% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $10.63 billion, down 0.42% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $22.29 per share and revenue of $43.52 billion, which would represent changes of -4.09% and -3.11%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Thermo Fisher Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 0.32% lower within the past month. As of now, Thermo Fisher Scientific holds a Zacks Rank of #3 (Hold).
In terms of valuation, Thermo Fisher Scientific is currently trading at a Forward P/E ratio of 20.96. This represents a discount compared to its industry's average Forward P/E of 24.38.
One should further note that TMO currently holds a PEG ratio of 2.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.04 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 145, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 trading session, Thermo Fisher Scientific (TMO - Free Report) closed at $469.67, marking a +0.52% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.85%. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Shares of the maker of scientific instrument and laboratory supplies have depreciated by 7.45% over the course of the past month, underperforming the Medical sector's loss of 3.49% and the S&P 500's loss of 3.02%.
Market participants will be closely following the financial results of Thermo Fisher Scientific in its upcoming release. The company plans to announce its earnings on October 25, 2023. The company is predicted to post an EPS of $5.63, indicating a 10.83% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $10.63 billion, down 0.42% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $22.29 per share and revenue of $43.52 billion, which would represent changes of -4.09% and -3.11%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Thermo Fisher Scientific. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 0.32% lower within the past month. As of now, Thermo Fisher Scientific holds a Zacks Rank of #3 (Hold).
In terms of valuation, Thermo Fisher Scientific is currently trading at a Forward P/E ratio of 20.96. This represents a discount compared to its industry's average Forward P/E of 24.38.
One should further note that TMO currently holds a PEG ratio of 2.32. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.04 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 145, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.