Zacks: Brokerages Anticipate Thermo Fisher Scientific Inc. (NYSE:TMO) Will Announce Quarterly Sales of $6.19 Billion
Wall Street brokerages predict that Thermo Fisher Scientific Inc. (NYSE:TMO) will announce sales of $6.19 billion for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Thermo Fisher Scientific’s earnings, with estimates ranging from $6.18 billion to $6.21 billion. Thermo Fisher Scientific posted sales of $5.92 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.6%. The business is scheduled to report its next quarterly earnings results on Wednesday, October 23rd.
On average, analysts expect that Thermo Fisher Scientific will report full-year sales of $25.42 billion for the current financial year, with estimates ranging from $25.39 billion to $25.47 billion. For the next fiscal year, analysts expect that the company will report sales of $26.88 billion, with estimates ranging from $26.72 billion to $27.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Thermo Fisher Scientific.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the previous year, the firm posted $2.75 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 3.9% on a year-over-year basis.
Shares of TMO traded up $5.44 during midday trading on Friday, hitting $294.94. The company had a trading volume of 1,123,378 shares, compared to its average volume of 1,583,402. Thermo Fisher Scientific has a 1 year low of $208.34 and a 1 year high of $305.45. The firm has a market capitalization of $116.95 billion, a P/E ratio of 26.52, a P/E/G ratio of 1.91 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.49. The company’s 50-day simple moving average is $280.90 and its 200-day simple moving average is $276.38.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 6.83%.
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 1,833 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $272.93, for a total transaction of $500,280.69. Following the sale, the director now owns 28,592 shares of the company’s stock, valued at $7,803,614.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the sale, the chief executive officer now directly owns 342,193 shares in the company, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Princeton Global Asset Management LLC increased its position in shares of Thermo Fisher Scientific by 1.2% during the second quarter. Princeton Global Asset Management LLC now owns 9,574 shares of the medical research company’s stock worth $2,812,000 after purchasing an additional 117 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Thermo Fisher Scientific by 2.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 91,976 shares of the medical research company’s stock valued at $27,012,000 after purchasing an additional 1,967 shares during the last quarter. Front Row Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 9.3% in the 2nd quarter. Front Row Advisors LLC now owns 7,022 shares of the medical research company’s stock valued at $2,064,000 after purchasing an additional 599 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in shares of Thermo Fisher Scientific by 3.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 3,343 shares of the medical research company’s stock valued at $982,000 after purchasing an additional 124 shares during the period. Finally, Atria Investments LLC boosted its position in shares of Thermo Fisher Scientific by 20.9% in the 2nd quarter. Atria Investments LLC now owns 9,697 shares of the medical research company’s stock valued at $2,658,000 after purchasing an additional 1,678 shares during the period. Institutional investors and hedge funds own 88.19% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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