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Danaher (DHR) Gains As Market Dips: What You Should Know
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Danaher (DHR - Free Report) closed at $248.46 in the latest trading session, marking a +0.27% move from the prior day. This move outpaced the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.42%.
Coming into today, shares of the industrial and medical device maker had lost 1.53% in the past month. In that same time, the Conglomerates sector gained 3.82%, while the S&P 500 gained 2.67%.
Investors will be eagerly watching for the performance of Danaher in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 23, 2024. The company is forecasted to report an EPS of $1.74, showcasing a 26.27% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $5.64 billion, reflecting a 21.31% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.63 per share and revenue of $24.09 billion. These totals would mark changes of +0.66% and -12.73%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Danaher. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Danaher currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Danaher is presently being traded at a Forward P/E ratio of 32.48. This expresses a premium compared to the average Forward P/E of 18.08 of its industry.
One should further note that DHR currently holds a PEG ratio of 3.76. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. DHR's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 22, finds itself in the top 9% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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Danaher (DHR) Gains As Market Dips: What You Should Know
Danaher (DHR - Free Report) closed at $248.46 in the latest trading session, marking a +0.27% move from the prior day. This move outpaced the S&P 500's daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq depreciated by 0.42%.
Coming into today, shares of the industrial and medical device maker had lost 1.53% in the past month. In that same time, the Conglomerates sector gained 3.82%, while the S&P 500 gained 2.67%.
Investors will be eagerly watching for the performance of Danaher in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 23, 2024. The company is forecasted to report an EPS of $1.74, showcasing a 26.27% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $5.64 billion, reflecting a 21.31% fall from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $7.63 per share and revenue of $24.09 billion. These totals would mark changes of +0.66% and -12.73%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Danaher. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Danaher currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Danaher is presently being traded at a Forward P/E ratio of 32.48. This expresses a premium compared to the average Forward P/E of 18.08 of its industry.
One should further note that DHR currently holds a PEG ratio of 3.76. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. DHR's industry had an average PEG ratio of 2.23 as of yesterday's close.
The Diversified Operations industry is part of the Conglomerates sector. This industry, currently bearing a Zacks Industry Rank of 22, finds itself in the top 9% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.