Agilent Technologies (A) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Agilent Technologies (A) closed at $104.31, marking a +0.88% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.18%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 1.76%.
The the stock of scientific instrument maker has fallen by 6.43% in the past month, lagging the Computer and Technology sector's loss of 2.96% and the S&P 500's loss of 3.35%.
The investment community will be closely monitoring the performance of Agilent Technologies in its forthcoming earnings report. The company is scheduled to release its earnings on November 20, 2023. On that day, Agilent Technologies is projected to report earnings of $1.34 per share, which would represent a year-over-year decline of 12.42%. Simultaneously, our latest consensus estimate expects the revenue to be $1.67 billion, showing a 9.65% drop compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.41 per share and a revenue of $6.82 billion, indicating changes of +3.64% and -0.47%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Agilent Technologies. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.05% lower. Agilent Technologies is currently a Zacks Rank #4 (Sell).
Looking at valuation, Agilent Technologies is presently trading at a Forward P/E ratio of 19.1. This expresses a discount compared to the average Forward P/E of 24.33 of its industry.
One should further note that A currently holds a PEG ratio of 1.91. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Electronics - Testing Equipment industry was having an average PEG ratio of 2.43.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 63, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
