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What Lies Ahead For Agilent Technologies Inc. (NYSE: A) In 2023?

Agilent Technologies Inc. (NYSE:A) shares, rose in value on Thursday, May 25, with the stock price down by -2.17% to the previous day’s close as strong demand from buyers drove the stock to $118.36.

Actively observing the price movement in the recent trading, the stock is buoying the session at $120.99, falling within a range of $113.2801 and $121.09. The value of beta (5-year monthly) is 1.03 whereas the PE ratio is 27.28 over 12-month period. Referring to stock’s 52-week performance, its high was $160.26, and the low was $112.52. On the whole, A has fluctuated by -11.09% over the past month.

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With the market capitalization of Agilent Technologies Inc. currently standing at about $35.85 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 14, 2023 – Aug 18, 2023. The company’s Forward Dividend Ratio is 0.90, with its dividend yield at 0.74%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.37, which is expected to increase to $1.64 for fiscal year $5.63 and then to about $6.17 by fiscal year 2024. Data indicates that the EPS growth is expected to be 7.90% in 2024, while the next year’s EPS growth is forecast to be 9.60%.

Analysts have estimated the company’s revenue for the quarter at $1.68 billion, with a low estimate of $1.65 billion and a high estimate of $1.8 billion. According to the average forecast, sales growth in current quarter could jump down -2.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $7 billion, representing an increase of 2.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that A’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 2.00, with the price of A currently trading nearly -9.06% and -11.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 24.32, while the 7-day volatility ratio is showing 2.75% which for the 30-day chart, stands at 2.18%. Furthermore, Agilent Technologies Inc. (A)’s beta value is 1.04, and its average true range (ATR) is 3.64.

A comparison of Agilent Technologies Inc. (A) with its peers suggests the former has fared considerably weaker in the market. A showed an intraday change of -2.17% in today’s session so far, and over the past year, it shrunk by -4.86%%. In comparison, Rogers Corporation (ROG) has moved higher at 0.90% today and is down -40.41% over the past 12 months. Additionally, there is a gain of 1.50% for Thermo Fisher Scientific Inc. (TMO) in recent trading while the stock has seen an overall depriciation of -5.55%% over the past year. The PE ratio stands at 27.28 for Agilent Technologies Inc., compared to 30.04 for Rogers Corporation. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.59%. Meanwhile, the Dow Jones Industrial Slipped by -0.19%.

Data on historical trading for Agilent Technologies Inc. (NYSE:A) indicates that the trading volumes over the past 10 days have averaged 2.19 million and over the past 3 months, they’ve averaged 1.68 million. According to company’s latest data on outstanding shares, there are 296.00 million shares outstanding.

Nearly 0.30% of Agilent Technologies Inc.’s shares belong to company insiders and institutional investors own 90.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.84 million shares as on Apr 27, 2023, resulting in a short ratio of 3.3. According to the data, the short interest in Agilent Technologies Inc. (A) stood at 1.64% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 4.72 million. The stock has fallen by -20.91% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the A stock heading into the next quarter.

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