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Idexx Laboratories (IDXX) Dips More Than Broader Markets: What You Should Know
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Idexx Laboratories (IDXX - Free Report) closed at $596.35 in the latest trading session, marking a -1.49% move from the prior day. This move lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the Animal diagnostic and health care company had lost 2.2% in the past month. In that same time, the Medical sector lost 2.78%, while the S&P 500 lost 0.13%.
Wall Street will be looking for positivity from Idexx Laboratories as it approaches its next earnings report date. On that day, Idexx Laboratories is projected to report earnings of $1.67 per share, which would represent a year-over-year decline of 16.92%. Meanwhile, our latest consensus estimate is calling for revenue of $779.98 million, up 8.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.38 per share and revenue of $3.19 billion. These totals would mark changes of +24.89% and +18.02%, respectively, from last year.
Any recent changes to analyst estimates for Idexx Laboratories should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Idexx Laboratories is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Idexx Laboratories is currently trading at a Forward P/E ratio of 72.21. This represents a premium compared to its industry's average Forward P/E of 40.46.
Investors should also note that IDXX has a PEG ratio of 2.97 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments industry currently had an average PEG ratio of 2.97 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Idexx Laboratories (IDXX) Dips More Than Broader Markets: What You Should Know
Idexx Laboratories (IDXX - Free Report) closed at $596.35 in the latest trading session, marking a -1.49% move from the prior day. This move lagged the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.3%, while the tech-heavy Nasdaq lost 0.23%.
Coming into today, shares of the Animal diagnostic and health care company had lost 2.2% in the past month. In that same time, the Medical sector lost 2.78%, while the S&P 500 lost 0.13%.
Wall Street will be looking for positivity from Idexx Laboratories as it approaches its next earnings report date. On that day, Idexx Laboratories is projected to report earnings of $1.67 per share, which would represent a year-over-year decline of 16.92%. Meanwhile, our latest consensus estimate is calling for revenue of $779.98 million, up 8.19% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.38 per share and revenue of $3.19 billion. These totals would mark changes of +24.89% and +18.02%, respectively, from last year.
Any recent changes to analyst estimates for Idexx Laboratories should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% lower. Idexx Laboratories is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Idexx Laboratories is currently trading at a Forward P/E ratio of 72.21. This represents a premium compared to its industry's average Forward P/E of 40.46.
Investors should also note that IDXX has a PEG ratio of 2.97 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Instruments industry currently had an average PEG ratio of 2.97 as of yesterday's close.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 173, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.