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Danaher (DHR) Suffers a Larger Drop Than the General Market: Key Insights
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The latest trading session saw Danaher (DHR - Free Report) ending at $245.94, denoting a -0.75% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.72%. At the same time, the Dow lost 1%, and the tech-heavy Nasdaq lost 0.95%.
The industrial and medical device maker's shares have seen a decrease of 3.28% over the last month, not keeping up with the Conglomerates sector's gain of 2.78% and the S&P 500's gain of 2.16%.
The upcoming earnings release of Danaher will be of great interest to investors. The company's earnings report is expected on April 23, 2024. The company is forecasted to report an EPS of $1.72, showcasing a 27.12% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.64 billion, showing a 21.31% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.62 per share and a revenue of $24.09 billion, demonstrating changes of +0.53% and -12.73%, respectively, from the preceding year.
Investors should also take note of any recent adjustments 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.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Danaher holds a Zacks Rank of #2 (Buy).
In the context of valuation, Danaher is at present trading with a Forward P/E ratio of 32.5. For comparison, its industry has an average Forward P/E of 18.31, which means Danaher is trading at a premium to the group.
It is also worth noting that DHR currently has a PEG ratio of 3.77. 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. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 2.06.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 19, positioning it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DHR in the coming trading sessions, be sure to utilize Zacks.com.
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Danaher (DHR) Suffers a Larger Drop Than the General Market: Key Insights
The latest trading session saw Danaher (DHR - Free Report) ending at $245.94, denoting a -0.75% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily loss of 0.72%. At the same time, the Dow lost 1%, and the tech-heavy Nasdaq lost 0.95%.
The industrial and medical device maker's shares have seen a decrease of 3.28% over the last month, not keeping up with the Conglomerates sector's gain of 2.78% and the S&P 500's gain of 2.16%.
The upcoming earnings release of Danaher will be of great interest to investors. The company's earnings report is expected on April 23, 2024. The company is forecasted to report an EPS of $1.72, showcasing a 27.12% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $5.64 billion, showing a 21.31% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $7.62 per share and a revenue of $24.09 billion, demonstrating changes of +0.53% and -12.73%, respectively, from the preceding year.
Investors should also take note of any recent adjustments 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.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Danaher holds a Zacks Rank of #2 (Buy).
In the context of valuation, Danaher is at present trading with a Forward P/E ratio of 32.5. For comparison, its industry has an average Forward P/E of 18.31, which means Danaher is trading at a premium to the group.
It is also worth noting that DHR currently has a PEG ratio of 3.77. 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. As of the close of trade yesterday, the Diversified Operations industry held an average PEG ratio of 2.06.
The Diversified Operations industry is part of the Conglomerates sector. Currently, this industry holds a Zacks Industry Rank of 19, positioning it in the top 8% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow DHR in the coming trading sessions, be sure to utilize Zacks.com.