Yahoo Finance Pacific Biosciences of California (PACB) Advances While Market Declines: Some Information for Investors
Pacific Biosciences of California (PACB) closed the latest trading day at $1.37, indicating a +0.74% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.41%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 0.71%.
Prior to today's trading, shares of the maker of genetic analysis technology had lost 29.9% over the past month. This has lagged the Medical sector's gain of 1.74% and the S&P 500's gain of 3.53% in that time.
The investment community will be paying close attention to the earnings performance of Pacific Biosciences of California in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 7.69% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $40.52 million, indicating a 14.82% decrease compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.91 per share and revenue of $177.46 million. These totals would mark changes of +18.02% and -11.5%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Pacific Biosciences of California. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.58% rise in the Zacks Consensus EPS estimate. Currently, Pacific Biosciences of California is carrying a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.
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Pacific Biosciences of California, Inc. (PACB) : Free Stock Analysis Report
