Danaher (DHR) Outpaces Stock Market Gains: What You Should Know
Danaher (DHR) ended the recent trading session at $231.97, demonstrating a +0.4% swing from the preceding day's closing price. This change outpaced the S&P 500's 0.22% gain on the day. Elsewhere, the Dow saw an upswing of 0.36%, while the tech-heavy Nasdaq appreciated by 0.32%.
Prior to today's trading, shares of the industrial and medical device maker had gained 0.3% over the past month. This has outpaced the Conglomerates sector's loss of 4.26% and lagged the S&P 500's gain of 1.61% in that time.
Investors will be eagerly watching for the performance of Danaher in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 30, 2024. It is anticipated that the company will report an EPS of $1.89, marking a 34.15% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $5.99 billion, down 28.43% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Danaher. 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.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 has shifted 0.47% downward. Danaher is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Danaher currently has a Forward P/E ratio of 29.7. This valuation marks a premium compared to its industry's average Forward P/E of 15.62.
Investors should also note that DHR has a PEG ratio of 2.47 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Diversified Operations industry was having an average PEG ratio of 2.26.
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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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Danaher Corporation (DHR) : Free Stock Analysis Report
