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Align Technology (ALGN) Dips More Than Broader Markets: What You Should Know
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Align Technology (ALGN - Free Report) closed at $197.78 in the latest trading session, marking a -1.88% move from the prior day. This change lagged the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.99%, and the tech-heavy Nasdaq lost 1.63%.
Heading into today, shares of the maker of the Invisalign tooth-straightening system had lost 6.56% over the past month, lagging the Medical sector's loss of 6.39% and outpacing the S&P 500's loss of 6.62% in that time.
Investors will be hoping for strength from ALGN as it approaches its next earnings release, which is expected to be January 29, 2019. On that day, ALGN is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 2.52%. Meanwhile, our latest consensus estimate is calling for revenue of $512.12 million, up 21.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.87 per share and revenue of $1.95 billion, which would represent changes of +25.19% and +32.13%, respectively, from the prior year.
Any recent changes to analyst estimates for ALGN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ALGN currently has a Zacks Rank of #4 (Sell).
Digging into valuation, ALGN currently has a Forward P/E ratio of 41.37. Its industry sports an average Forward P/E of 18.7, so we one might conclude that ALGN is trading at a premium comparatively.
Meanwhile, ALGN's PEG ratio is currently 1.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Dental Supplies was holding an average PEG ratio of 1.95 at yesterday's closing price.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 ALGN in the coming trading sessions, be sure to utilize Zacks.com.
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Align Technology (ALGN) Dips More Than Broader Markets: What You Should Know
Align Technology (ALGN - Free Report) closed at $197.78 in the latest trading session, marking a -1.88% move from the prior day. This change lagged the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.99%, and the tech-heavy Nasdaq lost 1.63%.
Heading into today, shares of the maker of the Invisalign tooth-straightening system had lost 6.56% over the past month, lagging the Medical sector's loss of 6.39% and outpacing the S&P 500's loss of 6.62% in that time.
Investors will be hoping for strength from ALGN as it approaches its next earnings release, which is expected to be January 29, 2019. On that day, ALGN is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 2.52%. Meanwhile, our latest consensus estimate is calling for revenue of $512.12 million, up 21.55% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.87 per share and revenue of $1.95 billion, which would represent changes of +25.19% and +32.13%, respectively, from the prior year.
Any recent changes to analyst estimates for ALGN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. ALGN currently has a Zacks Rank of #4 (Sell).
Digging into valuation, ALGN currently has a Forward P/E ratio of 41.37. Its industry sports an average Forward P/E of 18.7, so we one might conclude that ALGN is trading at a premium comparatively.
Meanwhile, ALGN's PEG ratio is currently 1.76. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Dental Supplies was holding an average PEG ratio of 1.95 at yesterday's closing price.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 ALGN in the coming trading sessions, be sure to utilize Zacks.com.