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DaVita HealthCare (DVA) Laps the Stock Market: Here's Why
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In the latest market close, DaVita HealthCare (DVA - Free Report) reached $139.96, with a +1.46% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.
The kidney dialysis provider's shares have seen a decrease of 2.43% over the last month, not keeping up with the Medical sector's gain of 0.31% and the S&P 500's gain of 0.43%.
The investment community will be closely monitoring the performance of DaVita HealthCare in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. The company is forecasted to report an EPS of $2.47, showcasing a 18.75% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $3.16 billion, showing a 5.43% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.62 per share and revenue of $12.74 billion, indicating changes of +13.58% and +4.97%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for DaVita HealthCare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. DaVita HealthCare is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, DaVita HealthCare is currently being traded at a Forward P/E ratio of 14.33. This valuation marks a discount compared to its industry's average Forward P/E of 23.41.
Meanwhile, DVA's PEG ratio is currently 1.05. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Outpatient and Home Healthcare was holding an average PEG ratio of 2 at yesterday's closing price.
The Medical - Outpatient and Home Healthcare industry is part of the Medical sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
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.
To follow DVA in the coming trading sessions, be sure to utilize Zacks.com.
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DaVita HealthCare (DVA) Laps the Stock Market: Here's Why
In the latest market close, DaVita HealthCare (DVA - Free Report) reached $139.96, with a +1.46% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 1.08% for the day. At the same time, the Dow added 0.32%, and the tech-heavy Nasdaq gained 1.58%.
The kidney dialysis provider's shares have seen a decrease of 2.43% over the last month, not keeping up with the Medical sector's gain of 0.31% and the S&P 500's gain of 0.43%.
The investment community will be closely monitoring the performance of DaVita HealthCare in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2024. The company is forecasted to report an EPS of $2.47, showcasing a 18.75% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $3.16 billion, showing a 5.43% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $9.62 per share and revenue of $12.74 billion, indicating changes of +13.58% and +4.97%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for DaVita HealthCare. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 past month, there's been no change in the Zacks Consensus EPS estimate. DaVita HealthCare is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, DaVita HealthCare is currently being traded at a Forward P/E ratio of 14.33. This valuation marks a discount compared to its industry's average Forward P/E of 23.41.
Meanwhile, DVA's PEG ratio is currently 1.05. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Medical - Outpatient and Home Healthcare was holding an average PEG ratio of 2 at yesterday's closing price.
The Medical - Outpatient and Home Healthcare industry is part of the Medical sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
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.
To follow DVA in the coming trading sessions, be sure to utilize Zacks.com.