Moderna (MRNA - Free Report) closed the latest trading day at $86.01, indicating a -0.37% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 1.34%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
Shares of the biotechnology company witnessed a loss of 19.12% over the previous month, trailing the performance of the Medical sector with its loss of 2.87% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Moderna in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is expected to report EPS of -$1.78, down 170.36% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.38 billion, showing a 59.02% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$4.57 per share and revenue of $6.68 billion, indicating changes of -122.71% and -65.31%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Moderna. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.75% lower. Moderna is holding a Zacks Rank of #4 (Sell) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Moderna (MRNA - Free Report) closed the latest trading day at $86.01, indicating a -0.37% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 1.34%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 1.62%.
Shares of the biotechnology company witnessed a loss of 19.12% over the previous month, trailing the performance of the Medical sector with its loss of 2.87% and the S&P 500's loss of 1.57%.
Market participants will be closely following the financial results of Moderna in its upcoming release. The company plans to announce its earnings on November 2, 2023. The company is expected to report EPS of -$1.78, down 170.36% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $1.38 billion, showing a 59.02% drop compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$4.57 per share and revenue of $6.68 billion, indicating changes of -122.71% and -65.31%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Moderna. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.75% lower. Moderna is holding a Zacks Rank of #4 (Sell) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% echelons of all 250+ industries.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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