In the latest close session, Gilead Sciences (GILD) was down 1.48% at $134.28. This change lagged the S&P 500's daily loss of 1.01%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 1.4%.
Shares of the HIV and hepatitis C drugmaker have appreciated by 10.13% over the course of the past month, outperforming the Medical sector's gain of 5.37%, and the S&P 500's gain of 0.32%.
The investment community will be paying close attention to the earnings performance of Gilead Sciences in its upcoming release. The company is expected to report EPS of -$7.09, down 452.74% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $7.37 billion, up 4.02% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.77 per share and a revenue of $30.38 billion, representing changes of -109.45% and +3.18%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Gilead Sciences. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.73% higher within the past month. Gilead Sciences currently has a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GILD in the coming trading sessions, be sure to utilize Zacks.com.
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Gilead Sciences, Inc. (GILD): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).