Gilead Sciences (GILD) Increases Despite Market Slip: Here's What You Need to Know
The most recent trading session ended with Gilead Sciences (GILD) standing at $83.94, reflecting a +0.12% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.93%. Meanwhile, the Dow experienced a drop of 0.41%, and the technology-dominated Nasdaq saw a decrease of 1.53%.
The HIV and hepatitis C drugmaker's stock has climbed by 6.13% in the past month, exceeding the Medical sector's loss of 3.08% and the S&P 500's gain of 2.17%.
The investment community will be paying close attention to the earnings performance of Gilead Sciences in its upcoming release. The company is slated to reveal its earnings on November 7, 2024. The company is predicted to post an EPS of $1.66, indicating a 27.51% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $6.98 billion, down 0.98% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.78 per share and a revenue of $27.63 billion, representing changes of -43.75% and +1.9%, respectively, from the prior year.
Any recent changes to analyst estimates for Gilead Sciences should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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. The Zacks Consensus EPS estimate has moved 0.11% higher within the past month. Currently, Gilead Sciences is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Gilead Sciences currently has a Forward P/E ratio of 22.17. This indicates a discount in contrast to its industry's Forward P/E of 23.43.
One should further note that GILD currently holds a PEG ratio of 2.9. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Biomedical and Genetics was holding an average PEG ratio of 2.09 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report