Agilent Technologies (A) Stock Dips While Market Gains: Key Facts
In the latest trading session, Agilent Technologies (A) closed at $109.39, marking a -1.04% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.1%. At the same time, the Dow lost 0.12%, and the tech-heavy Nasdaq gained 0.08%.
Shares of the scientific instrument maker have depreciated by 2.43% over the course of the past month, underperforming the Computer and Technology sector's gain of 1.55% and the S&P 500's gain of 1.72%.
Market participants will be closely following the financial results of Agilent Technologies in its upcoming release. The company plans to announce its earnings on November 20, 2023. The company is expected to report EPS of $1.34, down 12.42% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $1.67 billion, indicating a 9.65% downward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Agilent Technologies. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.09% downward. At present, Agilent Technologies boasts a Zacks Rank of #4 (Sell).
Investors should also note Agilent Technologies's current valuation metrics, including its Forward P/E ratio of 19.55. Its industry sports an average Forward P/E of 23.35, so one might conclude that Agilent Technologies is trading at a discount comparatively.
Meanwhile, A's PEG ratio is currently 1.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. A's industry had an average PEG ratio of 2.24 as of yesterday's close.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 95, finds itself in the top 38% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
