Agilent Technologies (A) Gains But Lags Market: What You Should Know
Agilent Technologies (A) closed the most recent trading day at $156.23, moving +0.35% from the previous trading session. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 0.61%, and the Nasdaq, a tech-heavy index, added 6.59%.
Coming into today, shares of the scientific instrument maker had gained 5.13% in the past month. In that same time, the Computer and Technology sector gained 10.59%, while the S&P 500 gained 4.58%.
Agilent Technologies will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.31, up 8.26% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, up 1.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.64 per share and revenue of $6.95 billion, which would represent changes of +8.05% and +1.56%, respectively, from the prior 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. 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 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.09% higher. Agilent Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Agilent Technologies is holding a Forward P/E ratio of 27.59. This represents a no noticeable deviation compared to its industry's average Forward P/E of 27.59.
It is also worth noting that A currently has a PEG ratio of 2.76. 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. Electronics - Testing Equipment stocks are, on average, holding a PEG ratio of 2.67 based on yesterday's closing prices.
The Electronics - Testing Equipment industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 199, putting it in the bottom 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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
To read this article on Zacks.com click here.