In the latest trading session, Thermo Fisher Scientific (TMO) closed at $501.59, marking a -0.8% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.47%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Heading into today, shares of the maker of scientific instrument and laboratory supplies had lost 7.25% over the past month, lagging the Medical sector's loss of 2.14% and the S&P 500's loss of 1.43% in that time.
Thermo Fisher Scientific will be looking to display strength as it nears its next earnings release. In that report, analysts expect Thermo Fisher Scientific to post earnings of $5.67 per share. This would mark year-over-year growth of 11.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.65 billion, down 0.29% from the year-ago period.
TMO's full-year Zacks Consensus Estimates are calling for earnings of $22.37 per share and revenue of $43.54 billion. These results would represent year-over-year changes of -3.74% and -3.07%, respectively.
Investors might also notice recent changes to analyst estimates for Thermo Fisher Scientific. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Thermo Fisher Scientific is currently sporting a Zacks Rank of #4 (Sell).
Investors should also note Thermo Fisher Scientific's current valuation metrics, including its Forward P/E ratio of 22.61. For comparison, its industry has an average Forward P/E of 26.48, which means Thermo Fisher Scientific is trading at a discount to the group.
Investors should also note that TMO has a PEG ratio of 2.38 right now. 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. The Medical - Instruments was holding an average PEG ratio of 2.08 at yesterday's closing price.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 102, which puts it in the top 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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