Yahoo Finance Thermo Fisher Scientific (TMO) Falls More Steeply Than Broader Market: What Investors Need to Know
Thermo Fisher Scientific (TMO) closed the most recent trading day at $568.82, moving -0.83% from the previous trading session. The stock's performance was behind 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%.
Prior to today's trading, shares of the maker of scientific instrument and laboratory supplies had gained 1.79% over the past month. This has outpaced the Medical sector's loss of 1.21% and lagged the S&P 500's gain of 2.67% in that time.
Market participants will be closely following the financial results of Thermo Fisher Scientific in its upcoming release. On that day, Thermo Fisher Scientific is projected to report earnings of $4.71 per share, which would represent a year-over-year decline of 6.36%. At the same time, our most recent consensus estimate is projecting a revenue of $10.14 billion, reflecting a 5.28% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $21.53 per share and a revenue of $42.74 billion, demonstrating changes of -0.09% and -0.28%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Thermo Fisher Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Currently, Thermo Fisher Scientific is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Thermo Fisher Scientific is currently being traded at a Forward P/E ratio of 26.65. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 26.65.
It is also worth noting that TMO currently has a PEG ratio of 2.41. 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. Medical - Instruments stocks are, on average, holding a PEG ratio of 2.41 based on yesterday's closing prices.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Thermo Fisher Scientific Inc. (TMO) : Free Stock Analysis Report
