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Thermo Fisher Scientific (TMO) Stock Slides as Market Rises: Facts to Know Before You Trade
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The most recent trading session ended with Thermo Fisher Scientific (TMO - Free Report) standing at $544.32, reflecting a -0.31% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
Shares of the maker of scientific instrument and laboratory supplies witnessed a gain of 4.69% over the previous month, trailing the performance of the Medical sector with its gain of 6.57% and outperforming the S&P 500's gain of 3.52%.
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 January 31, 2024. The company is predicted to post an EPS of $5.64, indicating a 4.44% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $10.74 billion, down 6.24% from the prior-year quarter.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. Thermo Fisher Scientific is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Thermo Fisher Scientific is presently trading at a Forward P/E ratio of 25.08. This signifies a discount in comparison to the average Forward P/E of 26.88 for its industry.
Investors should also note that TMO has a PEG ratio of 3.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TMO's industry had an average PEG ratio of 2.26 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 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.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.
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Thermo Fisher Scientific (TMO) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Thermo Fisher Scientific (TMO - Free Report) standing at $544.32, reflecting a -0.31% shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
Shares of the maker of scientific instrument and laboratory supplies witnessed a gain of 4.69% over the previous month, trailing the performance of the Medical sector with its gain of 6.57% and outperforming the S&P 500's gain of 3.52%.
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 January 31, 2024. The company is predicted to post an EPS of $5.64, indicating a 4.44% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $10.74 billion, down 6.24% from the prior-year quarter.
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. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.03% fall in the Zacks Consensus EPS estimate. Thermo Fisher Scientific is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Thermo Fisher Scientific is presently trading at a Forward P/E ratio of 25.08. This signifies a discount in comparison to the average Forward P/E of 26.88 for its industry.
Investors should also note that TMO has a PEG ratio of 3.28 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. TMO's industry had an average PEG ratio of 2.26 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 97, placing it within the top 39% of over 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.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.