Thermo Fisher Scientific Inc. (NYSE:TMO) Expected to Announce Earnings of $2.88 Per Share

Brokerages predict that Thermo Fisher Scientific Inc. (NYSE:TMO) will report earnings of $2.88 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Thermo Fisher Scientific’s earnings. The highest EPS estimate is $3.00 and the lowest is $2.83. Thermo Fisher Scientific reported earnings of $2.62 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.9%. The business is scheduled to issue its next earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Thermo Fisher Scientific will report full-year earnings of $12.24 per share for the current fiscal year, with EPS estimates ranging from $12.21 to $12.29. For the next year, analysts expect that the firm will post earnings of $13.54 per share, with EPS estimates ranging from $13.34 to $13.75. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow Thermo Fisher Scientific.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, topping the consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The company had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the company posted $2.75 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis.

Several analysts recently commented on the stock. Argus raised their price target on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. UBS Group raised their price target on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Needham & Company LLC raised their price target on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wolfe Research assumed coverage on shares of Thermo Fisher Scientific in a report on Thursday, May 30th. They set an “outperform” rating for the company. Finally, Credit Suisse Group restated a “buy” rating and set a $310.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $303.17.

In related news, CFO Stephen Williamson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total transaction of $670,725.00. Following the transaction, the chief financial officer now owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director C Martin Harris sold 275 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $270.73, for a total transaction of $74,450.75. Following the transaction, the director now directly owns 6,433 shares in the company, valued at approximately $1,741,606.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,775 shares of company stock valued at $14,986,676. 0.45% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of TMO. Vanguard Group Inc. raised its position in shares of Thermo Fisher Scientific by 1.2% in the second quarter. Vanguard Group Inc. now owns 30,670,985 shares of the medical research company’s stock valued at $9,007,455,000 after purchasing an additional 378,260 shares during the period. BlackRock Inc. raised its position in shares of Thermo Fisher Scientific by 1.4% in the second quarter. BlackRock Inc. now owns 27,643,905 shares of the medical research company’s stock valued at $8,118,461,000 after purchasing an additional 392,227 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Thermo Fisher Scientific by 2.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 17,139,325 shares of the medical research company’s stock valued at $5,033,477,000 after purchasing an additional 395,830 shares during the period. FMR LLC raised its position in shares of Thermo Fisher Scientific by 33.5% in the first quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock valued at $3,167,647,000 after purchasing an additional 2,900,868 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Thermo Fisher Scientific by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 3,559,667 shares of the medical research company’s stock valued at $1,045,404,000 after purchasing an additional 102,504 shares during the period. 88.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TMO opened at $273.31 on Tuesday. Thermo Fisher Scientific has a one year low of $208.34 and a one year high of $305.45. The company has a 50-day moving average of $287.33 and a two-hundred day moving average of $272.12. The stock has a market cap of $108.93 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.

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.

Featured Article: Quantitative Easing

Get a free copy of the Zacks research report on Thermo Fisher Scientific (TMO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.