Qiagen (QGEN) got here out with quarterly earnings of $0.58 per share, beating the Zacks Consensus
Qiagen (QGEN) got here out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.55 per share. This compares to earnings of $0.36 per share a yr in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 5.46%. 1 / 4 in the past, it was anticipated that this diagnostic merchandise maker would submit earnings of $0.55 per share when it really produced earnings of $0.55, delivering no shock.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
Qiagen, which belongs to the Zacks Medical – Biomedical and Genetics business, posted revenues of $483.76 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 7.62%. This compares to year-ago revenues of $382.69 million. The corporate has topped consensus income estimates thrice over the past 4 quarters.
The sustainability of the inventory’s instant worth motion based mostly on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
Qiagen shares have added about 45.7% for the reason that starting of the yr versus the S&P 500’s acquire of 5.3%.
What’s Subsequent for Qiagen?
Whereas Qiagen has outperformed the market up to now this yr, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any straightforward solutions to this key query, however one dependable measure that may assist traders handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested ranking instrument just like the Zacks Rank, which has a powerful observe report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Qiagen was favorable. Whereas the magnitude and path of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #2 (Purchase) for the inventory. So, the shares are anticipated to outperform the market within the close to future. You possibly can see the whole checklist of right now’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal yr change within the days forward. The present consensus EPS estimate is $0.63 on $496.16 million in revenues for the approaching quarter and $2.08 on $1.77 billion in revenues for the present fiscal yr.
Traders ought to be aware of the truth that the outlook for the business can have a cloth influence on the efficiency of the inventory as properly. When it comes to the Zacks Business Rank, Medical – Biomedical and Genetics is presently within the backside 28% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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QIAGEN N.V. (QGEN): Free Inventory Evaluation Report
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