Agilent Technologies (A) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Agilent Technologies (A) standing at $132.97, reflecting a -0.06% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 1.07% for the day. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 1.74%.
The the stock of scientific instrument maker has risen by 1.56% in the past month, lagging the Computer and Technology sector's gain of 4.83% and the S&P 500's gain of 2.93%.
Market participants will be closely following the financial results of Agilent Technologies in its upcoming release. The company plans to announce its earnings on February 27, 2024. The company is predicted to post an EPS of $1.21, indicating a 11.68% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.57 billion, reflecting a 10.53% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $5.48 per share and a revenue of $6.74 billion, demonstrating changes of +0.74% and -1.42%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for Agilent Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.07% higher. Agilent Technologies is currently a Zacks Rank #3 (Hold).
Looking at valuation, Agilent Technologies is presently trading at a Forward P/E ratio of 24.3. This indicates a discount in contrast to its industry's Forward P/E of 24.42.
It's also important to note that A currently trades at a PEG ratio of 3.04. 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. The average PEG ratio for the Electronics - Testing Equipment industry stood at 2.74 at the close of the market yesterday.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 21, finds itself in the top 9% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Agilent Technologies, Inc. (A) : Free Stock Analysis Report
