Agilent Technologies (A) Surpasses Market Returns: Some Facts Worth Knowing
The latest trading session saw Agilent Technologies (A) ending at $132.24, denoting a +1.91% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a gain of 0.96% for the day. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 1.3%.
Shares of the scientific instrument maker have depreciated by 0.59% over the course of the past month, underperforming the Computer and Technology sector's gain of 6.92% and the S&P 500's gain of 3.69%.
Analysts and investors alike will be keeping a close eye on the performance of Agilent Technologies in its upcoming earnings disclosure. The company's earnings report is set to go public on February 27, 2024. It is anticipated that the company will report an EPS of $1.21, marking a 11.68% fall compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.57 billion, down 10.53% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.48 per share and a revenue of $6.74 billion, indicating changes of +0.74% and -1.42%, respectively, from the former year.
It is also important to note the 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. At present, Agilent Technologies boasts a Zacks Rank of #3 (Hold).
Investors should also note Agilent Technologies's current valuation metrics, including its Forward P/E ratio of 23.69. This represents a discount compared to its industry's average Forward P/E of 24.2.
Meanwhile, A's PEG ratio is currently 2.96. 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 Electronics - Testing Equipment industry currently had an average PEG ratio of 2.65 as of yesterday's close.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 44, positioning it in the top 18% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Agilent Technologies, Inc. (A) : Free Stock Analysis Report
