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Gilead Sciences (GILD) Stock Sinks As Market Gains: Here's Why
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Gilead Sciences (GILD - Free Report) closed at $79.07 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.
The HIV and hepatitis C drugmaker's shares have seen a decrease of 1.84% over the last month, not keeping up with the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5%.
Analysts and investors alike will be keeping a close eye on the performance of Gilead Sciences in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. The company's earnings per share (EPS) are projected to be $1.76, reflecting a 5.39% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.07 billion, down 4.25% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Gilead Sciences. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, there's been a 0.28% fall in the Zacks Consensus EPS estimate. At present, Gilead Sciences boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Gilead Sciences is holding a Forward P/E ratio of 10.72. Its industry sports an average Forward P/E of 22.01, so one might conclude that Gilead Sciences is trading at a discount comparatively.
One should further note that GILD currently holds a PEG ratio of 0.95. 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. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.83 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 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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Gilead Sciences (GILD) Stock Sinks As Market Gains: Here's Why
Gilead Sciences (GILD - Free Report) closed at $79.07 in the latest trading session, marking a -0.57% move from the prior day. This change lagged the S&P 500's daily gain of 0.76%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 1.12%.
The HIV and hepatitis C drugmaker's shares have seen a decrease of 1.84% over the last month, not keeping up with the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5%.
Analysts and investors alike will be keeping a close eye on the performance of Gilead Sciences in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. The company's earnings per share (EPS) are projected to be $1.76, reflecting a 5.39% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $7.07 billion, down 4.25% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Gilead Sciences. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, there's been a 0.28% fall in the Zacks Consensus EPS estimate. At present, Gilead Sciences boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Gilead Sciences is holding a Forward P/E ratio of 10.72. Its industry sports an average Forward P/E of 22.01, so one might conclude that Gilead Sciences is trading at a discount comparatively.
One should further note that GILD currently holds a PEG ratio of 0.95. 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. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.83 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 39% of over 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.