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Quidel (QDEL) Outpaces Stock Market Gains: What You Should Know
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Quidel (QDEL - Free Report) closed the most recent trading day at $236.85, moving +1.29% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.02%.
QDEL will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. In that report, analysts expect QDEL to post earnings of $10.10 per share. This would mark year-over-year growth of 910%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $807.91 million, up 430.89% from the year-ago period.
Investors might also notice recent changes to analyst estimates for QDEL. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 7.41% lower. QDEL is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, QDEL is holding a Forward P/E ratio of 6.48. Its industry sports an average Forward P/E of 27.69, so we one might conclude that QDEL is trading at a discount comparatively.
It is also worth noting that QDEL currently has a PEG ratio of 0.26. 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. The Medical - Products was holding an average PEG ratio of 2.9 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 13% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Quidel (QDEL) Outpaces Stock Market Gains: What You Should Know
Quidel (QDEL - Free Report) closed the most recent trading day at $236.85, moving +1.29% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.02%.
QDEL will be looking to display strength as it nears its next earnings release, which is expected to be February 18, 2021. In that report, analysts expect QDEL to post earnings of $10.10 per share. This would mark year-over-year growth of 910%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $807.91 million, up 430.89% from the year-ago period.
Investors might also notice recent changes to analyst estimates for QDEL. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 7.41% lower. QDEL is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, QDEL is holding a Forward P/E ratio of 6.48. Its industry sports an average Forward P/E of 27.69, so we one might conclude that QDEL is trading at a discount comparatively.
It is also worth noting that QDEL currently has a PEG ratio of 0.26. 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. The Medical - Products was holding an average PEG ratio of 2.9 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 224, putting it in the bottom 13% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.