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Danaher (DHR) Gains As Market Dips: What You Should Know
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Danaher (DHR - Free Report) closed the most recent trading day at $248.10, moving +0.37% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq gained 0.14%.
Coming into today, shares of the industrial and medical device maker had lost 6.72% in the past month. In that same time, the Conglomerates sector lost 3.3%, while the S&P 500 lost 2.86%.
Wall Street will be looking for positivity from Danaher as it approaches its next earnings report date. This is expected to be October 24, 2023. On that day, Danaher is projected to report earnings of $1.87 per share, which would represent a year-over-year decline of 26.95%. Our most recent consensus estimate is calling for quarterly revenue of $6.63 billion, down 13.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.83 per share and revenue of $28.49 billion, which would represent changes of -19.36% and -9.47%, respectively, from the prior year.
Any recent changes to analyst estimates for Danaher should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Danaher is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Danaher currently has a Forward P/E ratio of 27.98. This valuation marks a premium compared to its industry's average Forward P/E of 15.63.
Also, we should mention that DHR has a PEG ratio of 2.66. 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 Diversified Operations was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Danaher (DHR) Gains As Market Dips: What You Should Know
Danaher (DHR - Free Report) closed the most recent trading day at $248.10, moving +0.37% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.27%. At the same time, the Dow lost 0.47%, and the tech-heavy Nasdaq gained 0.14%.
Coming into today, shares of the industrial and medical device maker had lost 6.72% in the past month. In that same time, the Conglomerates sector lost 3.3%, while the S&P 500 lost 2.86%.
Wall Street will be looking for positivity from Danaher as it approaches its next earnings report date. This is expected to be October 24, 2023. On that day, Danaher is projected to report earnings of $1.87 per share, which would represent a year-over-year decline of 26.95%. Our most recent consensus estimate is calling for quarterly revenue of $6.63 billion, down 13.46% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.83 per share and revenue of $28.49 billion, which would represent changes of -19.36% and -9.47%, respectively, from the prior year.
Any recent changes to analyst estimates for Danaher should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Danaher is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Danaher currently has a Forward P/E ratio of 27.98. This valuation marks a premium compared to its industry's average Forward P/E of 15.63.
Also, we should mention that DHR has a PEG ratio of 2.66. 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 Diversified Operations was holding an average PEG ratio of 1.91 at yesterday's closing price.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.