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Gilead Sciences (GILD) Increases Despite Market Slip: Here's What You Need to Know
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Gilead Sciences (GILD - Free Report) closed at $66.76 in the latest trading session, marking a +0.91% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Shares of the HIV and hepatitis C drugmaker witnessed a loss of 9.48% over the previous month, trailing the performance of the Medical sector with its loss of 6.4% and the S&P 500's loss of 2.57%.
The investment community will be closely monitoring the performance of Gilead Sciences in its forthcoming earnings report. The company is scheduled to release its earnings on April 25, 2024. The company is forecasted to report an EPS of $1.03, showcasing a 24.82% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $6.34 billion, showing a 0.15% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.55 per share and revenue of $27.49 billion. These totals would mark changes of -2.53% and +1.37%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gilead Sciences. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 7.41% fall in the Zacks Consensus EPS estimate. Gilead Sciences is currently a Zacks Rank #3 (Hold).
Digging into valuation, Gilead Sciences currently has a Forward P/E ratio of 10.1. Its industry sports an average Forward P/E of 22.02, so one might conclude that Gilead Sciences is trading at a discount comparatively.
Investors should also note that GILD has a PEG ratio of 0.91 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GILD's industry had an average PEG ratio of 1.65 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Gilead Sciences (GILD) Increases Despite Market Slip: Here's What You Need to Know
Gilead Sciences (GILD - Free Report) closed at $66.76 in the latest trading session, marking a +0.91% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.88% for the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Shares of the HIV and hepatitis C drugmaker witnessed a loss of 9.48% over the previous month, trailing the performance of the Medical sector with its loss of 6.4% and the S&P 500's loss of 2.57%.
The investment community will be closely monitoring the performance of Gilead Sciences in its forthcoming earnings report. The company is scheduled to release its earnings on April 25, 2024. The company is forecasted to report an EPS of $1.03, showcasing a 24.82% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $6.34 billion, showing a 0.15% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.55 per share and revenue of $27.49 billion. These totals would mark changes of -2.53% and +1.37%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gilead Sciences. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 7.41% fall in the Zacks Consensus EPS estimate. Gilead Sciences is currently a Zacks Rank #3 (Hold).
Digging into valuation, Gilead Sciences currently has a Forward P/E ratio of 10.1. Its industry sports an average Forward P/E of 22.02, so one might conclude that Gilead Sciences is trading at a discount comparatively.
Investors should also note that GILD has a PEG ratio of 0.91 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GILD's industry had an average PEG ratio of 1.65 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.