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Agilent Technologies: Koh Boon Hwee Appointed New Chairman
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Agilent Technologies Inc. (A - Free Report) recently announced that Koh Boon Hwee will be the new chairman of the board, with immediate effect. Koh replaces James G. Cullen, who served as the company’s chairman for the last 12 years and will now continue as a director.
Koh has been a member of Agilent’s board since 2003. He had earlier served as chairman of reputable companies such as Singapore Airlines, Singapore Telecom and DBS Bank, Ltd.
Agilent President and CEO, Mike McMullen, said, “Boon Hwee is highly respected by both board members and Agilent leadership. He offers a wide breadth of valuable perspective from his leadership at many international and Asia-based companies.”
Management believes that Koh’s considerable experience and business proficiency will be instrumental in helping the company achieve its long-term goals.
Last Earnings Report
Agilent Technologies reported fiscal first-quarter 2017 earnings per share of 53 cents which exceeded the Zacks Consensus Estimate by 4 cents. Earnings were up 15.2% year over year.
Also, revenues of $1.07 billion were up 3.8% year over year and above management’s guided range of $1.04–$1.06 billion and the Zacks Consensus Estimate of $1.05 billion. The strong growth was supported by continued strength in Chemical & Energy business and better-than-expected growth in China. (Read More: Agilent Technologies Beats on Q1 Earnings & Revenues)
In response to its strong first-quarter earnings reported on Feb 14, the stock gained 7.4%. Also, in the last one year, shares of Agilent Technologies outperformed the Zacks categorized Electronic Testing Equipment industry. While the industry gained 39.51%, the stock returned 48.44%.
Looking Ahead
Agilent issued guidance for the second quarter and fiscal 2017. The company projects second-quarter revenues in the range of $1.04–$1.06 billion and non-GAAP earnings per share in the range of 47 cents to 49 cents. Analysts polled by Zacks expect earnings of 48 cents per share and revenues of $1.05 billion.
For fiscal 2017, Agilent projects revenues between $4.33 billion and $4.35 billion and non-GAAP earnings per share in the $2.10 to $2.16 range. Analysts polled by Zacks expect earnings of $2.14 per share and revenues to the tune of $4.35 billion.
To Conclude
Agilent Technologies is a broad-based OEM of test and measurement equipment. The company’s decision to divest/wind up underperforming businesses has enhanced focus on the new Agilent, while enabling management to expand the solid recurring revenue base and diversify geographic and industrial operations to achieve growth. Also, the company’s focus on aligning investment toward more attractive growth avenues and innovative product launches is a positive.
However, competition from Teradyne and Thermo Fisher Scientific coupled with a challenging technology spending environment and softer-than-expected earnings guidance keep us on the sidelines.
Currently, Agilent carries a Zacks Rank #3 (Hold). Stocks worth considering in the industry include Texas Instruments (TXN - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Xcerra Corporation and Internap Corporation , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Texas Instruments delivered a positive earnings surprise of 7.09%, on average, in the trailing four quarters.
Xcerra Corporation delivered a positive earnings surprise of 187.5%, on average, in the trailing four quarters.
Internap Corporation delivered a positive earnings surprise of 10.88%, on average, in the trailing four quarters.
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Agilent Technologies: Koh Boon Hwee Appointed New Chairman
Agilent Technologies Inc. (A - Free Report) recently announced that Koh Boon Hwee will be the new chairman of the board, with immediate effect. Koh replaces James G. Cullen, who served as the company’s chairman for the last 12 years and will now continue as a director.
Koh has been a member of Agilent’s board since 2003. He had earlier served as chairman of reputable companies such as Singapore Airlines, Singapore Telecom and DBS Bank, Ltd.
Agilent President and CEO, Mike McMullen, said, “Boon Hwee is highly respected by both board members and Agilent leadership. He offers a wide breadth of valuable perspective from his leadership at many international and Asia-based companies.”
Management believes that Koh’s considerable experience and business proficiency will be instrumental in helping the company achieve its long-term goals.
Last Earnings Report
Agilent Technologies reported fiscal first-quarter 2017 earnings per share of 53 cents which exceeded the Zacks Consensus Estimate by 4 cents. Earnings were up 15.2% year over year.
Also, revenues of $1.07 billion were up 3.8% year over year and above management’s guided range of $1.04–$1.06 billion and the Zacks Consensus Estimate of $1.05 billion. The strong growth was supported by continued strength in Chemical & Energy business and better-than-expected growth in China. (Read More: Agilent Technologies Beats on Q1 Earnings & Revenues)
In response to its strong first-quarter earnings reported on Feb 14, the stock gained 7.4%. Also, in the last one year, shares of Agilent Technologies outperformed the Zacks categorized Electronic Testing Equipment industry. While the industry gained 39.51%, the stock returned 48.44%.
Looking Ahead
Agilent issued guidance for the second quarter and fiscal 2017. The company projects second-quarter revenues in the range of $1.04–$1.06 billion and non-GAAP earnings per share in the range of 47 cents to 49 cents. Analysts polled by Zacks expect earnings of 48 cents per share and revenues of $1.05 billion.
For fiscal 2017, Agilent projects revenues between $4.33 billion and $4.35 billion and non-GAAP earnings per share in the $2.10 to $2.16 range. Analysts polled by Zacks expect earnings of $2.14 per share and revenues to the tune of $4.35 billion.
To Conclude
Agilent Technologies is a broad-based OEM of test and measurement equipment. The company’s decision to divest/wind up underperforming businesses has enhanced focus on the new Agilent, while enabling management to expand the solid recurring revenue base and diversify geographic and industrial operations to achieve growth. Also, the company’s focus on aligning investment toward more attractive growth avenues and innovative product launches is a positive.
However, competition from Teradyne and Thermo Fisher Scientific coupled with a challenging technology spending environment and softer-than-expected earnings guidance keep us on the sidelines.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. Price and Consensus | Agilent Technologies, Inc. Quote
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold). Stocks worth considering in the industry include Texas Instruments (TXN - Free Report) , sporting a Zacks Rank #1 (Strong Buy) and Xcerra Corporation and Internap Corporation , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Texas Instruments delivered a positive earnings surprise of 7.09%, on average, in the trailing four quarters.
Xcerra Corporation delivered a positive earnings surprise of 187.5%, on average, in the trailing four quarters.
Internap Corporation delivered a positive earnings surprise of 10.88%, on average, in the trailing four quarters.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>