Fulgent Genetics, Inc. (FLGT) closed the most recent trading day at $49.73, moving -0.4% from the previous trading session. This change lagged the S&P 500’s 2.45% gain on the day. Elsewhere, the Dow gained 2.15%, while the tech-heavy Nasdaq added 0.17%.
Heading into today, shares of the company had lost 11.55% over the past month, lagging the Medical sector’s loss of 7.42% and the S&P 500’s loss of 5.71% in that time.
Investors will be hoping for strength from Fulgent Genetics, Inc. as it approaches its next earnings release. On that day, Fulgent Genetics, Inc. is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 71.37%. Meanwhile, our latest consensus estimate is calling for revenue of $122.4 million, down 20.32% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.23 per share and revenue of $652.6 million, which would represent changes of -61.97% and -34.25%, respectively, from the prior year.
Any recent changes to analyst estimates for Fulgent Genetics, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audit 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 moved 4.83% lower. Fulgent Genetics, Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Fulgent Genetics, Inc. is currently trading at a Forward P/E ratio of 8.01. This valuation marks a discount compared to its industry’s average Forward P/E of 16.91.
The Medical Info Systems industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 160, which puts it at the bottom 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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