Yahoo Finance Why Exact Sciences (EXAS) Dipped More Than Broader Market Today
In the latest market close, Exact Sciences (EXAS) reached $63.22, with a -1% movement compared to the previous day. This change lagged the S&P 500's daily loss of 0.58%. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq depreciated by 1.15%.
Prior to today's trading, shares of the molecular diagnostics company had gained 3.17% over the past month. This has outpaced the Medical sector's loss of 6.07% and the S&P 500's loss of 1.09% in that time.
The investment community will be closely monitoring the performance of Exact Sciences in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2024. In that report, analysts expect Exact Sciences to post earnings of -$0.50 per share. This would mark a year-over-year decline of 19.05%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $624.95 million, up 3.73% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.86 per share and revenue of $2.83 billion, indicating changes of +23.89% and +13.32%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Exact Sciences should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Exact Sciences presently features a Zacks Rank of #2 (Buy).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Exact Sciences Corporation (EXAS) : Free Stock Analysis Report
