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Why the Market Dipped But Danaher (DHR) Gained Today
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Danaher (DHR - Free Report) closed the most recent trading day at $207.30, moving +1.22% from the previous trading session. This change outpaced the S&P 500's 0.85% loss on the day. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.96%.
The industrial and medical device maker's shares have seen a decrease of 19.52% over the last month, not keeping up with the Conglomerates sector's loss of 9.8% and the S&P 500's loss of 3.02%.
The upcoming earnings release of Danaher will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company is predicted to post an EPS of $1.87, indicating a 26.95% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.63 billion, reflecting a 13.46% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.74 per share and a revenue of $28.35 billion, signifying shifts of -20.18% and -9.91%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Danaher. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 1.13% lower. As of now, Danaher holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Danaher is holding a Forward P/E ratio of 23.44. For comparison, its industry has an average Forward P/E of 15.46, which means Danaher is trading at a premium to the group.
It's also important to note that DHR currently trades at a PEG ratio of 2.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Diversified Operations stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Why the Market Dipped But Danaher (DHR) Gained Today
Danaher (DHR - Free Report) closed the most recent trading day at $207.30, moving +1.22% from the previous trading session. This change outpaced the S&P 500's 0.85% loss on the day. Elsewhere, the Dow saw a downswing of 0.75%, while the tech-heavy Nasdaq depreciated by 0.96%.
The industrial and medical device maker's shares have seen a decrease of 19.52% over the last month, not keeping up with the Conglomerates sector's loss of 9.8% and the S&P 500's loss of 3.02%.
The upcoming earnings release of Danaher will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company is predicted to post an EPS of $1.87, indicating a 26.95% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $6.63 billion, reflecting a 13.46% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.74 per share and a revenue of $28.35 billion, signifying shifts of -20.18% and -9.91%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Danaher. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection has moved 1.13% lower. As of now, Danaher holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Danaher is holding a Forward P/E ratio of 23.44. For comparison, its industry has an average Forward P/E of 15.46, which means Danaher is trading at a premium to the group.
It's also important to note that DHR currently trades at a PEG ratio of 2.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Diversified Operations stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 28% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.