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Thermo Fisher Scientific (TMO) Outpaces Stock Market Gains: What You Should Know
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Thermo Fisher Scientific (TMO - Free Report) closed the most recent trading day at $579.46, moving +1.55% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.24%.
The the stock of maker of scientific instrument and laboratory supplies has fallen by 4.53% in the past month, lagging the Medical sector's loss of 2.46% and the S&P 500's gain of 0.48%.
The upcoming earnings release of Thermo Fisher Scientific will be of great interest to investors. The company's earnings report is expected on April 24, 2024. The company is expected to report EPS of $4.71, down 6.36% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $10.14 billion, indicating a 5.28% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $21.53 per share and a revenue of $42.74 billion, representing changes of -0.09% and -0.28%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Thermo Fisher Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Thermo Fisher Scientific is carrying a Zacks Rank of #4 (Sell).
Looking at valuation, Thermo Fisher Scientific is presently trading at a Forward P/E ratio of 26.51. For comparison, its industry has an average Forward P/E of 25.21, which means Thermo Fisher Scientific is trading at a premium to the group.
We can also see that TMO currently has a PEG ratio of 2.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical - Instruments industry held an average PEG ratio of 2.29.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 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.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.
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Thermo Fisher Scientific (TMO) Outpaces Stock Market Gains: What You Should Know
Thermo Fisher Scientific (TMO - Free Report) closed the most recent trading day at $579.46, moving +1.55% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 1.11%. On the other hand, the Dow registered a gain of 0.8%, and the technology-centric Nasdaq increased by 1.24%.
The the stock of maker of scientific instrument and laboratory supplies has fallen by 4.53% in the past month, lagging the Medical sector's loss of 2.46% and the S&P 500's gain of 0.48%.
The upcoming earnings release of Thermo Fisher Scientific will be of great interest to investors. The company's earnings report is expected on April 24, 2024. The company is expected to report EPS of $4.71, down 6.36% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $10.14 billion, indicating a 5.28% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $21.53 per share and a revenue of $42.74 billion, representing changes of -0.09% and -0.28%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Thermo Fisher Scientific. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Thermo Fisher Scientific is carrying a Zacks Rank of #4 (Sell).
Looking at valuation, Thermo Fisher Scientific is presently trading at a Forward P/E ratio of 26.51. For comparison, its industry has an average Forward P/E of 25.21, which means Thermo Fisher Scientific is trading at a premium to the group.
We can also see that TMO currently has a PEG ratio of 2.4. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Medical - Instruments industry held an average PEG ratio of 2.29.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% of all 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.
To follow TMO in the coming trading sessions, be sure to utilize Zacks.com.