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Merck (MRK) Ascends But Remains Behind Market: Some Facts to Note
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Merck (MRK - Free Report) closed the latest trading day at $129.45, indicating a +0.57% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.19%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq increased by 1.96%.
Prior to today's trading, shares of the pharmaceutical company had lost 1.28% over the past month. This has lagged the Medical sector's gain of 3.54% and the S&P 500's gain of 3.35% in that time.
The investment community will be closely monitoring the performance of Merck in its forthcoming earnings report. The company is scheduled to release its earnings on July 30, 2024. The company is forecasted to report an EPS of $2.14, showcasing a 203.88% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $15.88 billion, indicating a 5.65% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.62 per share and a revenue of $64.4 billion, indicating changes of +470.86% and +7.13%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Merck. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. Right now, Merck possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Merck is at present trading with a Forward P/E ratio of 14.93. This valuation marks a premium compared to its industry's average Forward P/E of 14.4.
We can additionally observe that MRK currently boasts a PEG ratio of 1.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. MRK's industry had an average PEG ratio of 1.64 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Merck (MRK) Ascends But Remains Behind Market: Some Facts to Note
Merck (MRK - Free Report) closed the latest trading day at $129.45, indicating a +0.57% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.19%. On the other hand, the Dow registered a gain of 0.25%, and the technology-centric Nasdaq increased by 1.96%.
Prior to today's trading, shares of the pharmaceutical company had lost 1.28% over the past month. This has lagged the Medical sector's gain of 3.54% and the S&P 500's gain of 3.35% in that time.
The investment community will be closely monitoring the performance of Merck in its forthcoming earnings report. The company is scheduled to release its earnings on July 30, 2024. The company is forecasted to report an EPS of $2.14, showcasing a 203.88% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $15.88 billion, indicating a 5.65% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $8.62 per share and a revenue of $64.4 billion, indicating changes of +470.86% and +7.13%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Merck. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.67% lower. Right now, Merck possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Merck is at present trading with a Forward P/E ratio of 14.93. This valuation marks a premium compared to its industry's average Forward P/E of 14.4.
We can additionally observe that MRK currently boasts a PEG ratio of 1.66. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. MRK's industry had an average PEG ratio of 1.64 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.