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Danaher (DHR) Stock Sinks As Market Gains: What You Should Know
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Danaher (DHR - Free Report) closed at $236.81 in the latest trading session, marking a -1.33% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.
Investors will be hoping for strength from Danaher as it approaches its next earnings release, which is expected to be July 25, 2023. The company is expected to report EPS of $2.26, down 18.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.1 billion, down 8.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.43 per share and revenue of $29.44 billion, which would represent changes of -13.88% and -6.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Danaher 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Danaher currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Danaher currently has a Forward P/E ratio of 25.45. Its industry sports an average Forward P/E of 16.26, so we one might conclude that Danaher is trading at a premium comparatively.
Also, we should mention that DHR has a PEG ratio of 2.42. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Diversified Operations stocks are, on average, holding a PEG ratio of 1.81 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Danaher (DHR) Stock Sinks As Market Gains: What You Should Know
Danaher (DHR - Free Report) closed at $236.81 in the latest trading session, marking a -1.33% move from the prior day. This change lagged the S&P 500's daily gain of 0.12%. At the same time, the Dow added 0.03%, and the tech-heavy Nasdaq gained 5.14%.
Investors will be hoping for strength from Danaher as it approaches its next earnings release, which is expected to be July 25, 2023. The company is expected to report EPS of $2.26, down 18.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $7.1 billion, down 8.36% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.43 per share and revenue of $29.44 billion, which would represent changes of -13.88% and -6.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Danaher 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. Danaher currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Danaher currently has a Forward P/E ratio of 25.45. Its industry sports an average Forward P/E of 16.26, so we one might conclude that Danaher is trading at a premium comparatively.
Also, we should mention that DHR has a PEG ratio of 2.42. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Diversified Operations stocks are, on average, holding a PEG ratio of 1.81 based on yesterday's closing prices.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 108, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.