Agilent Technologies (NYSE:A) Updates Q1 2024 Earnings Guidance

Agilent Technologies (NYSE:A) issued an update on its first quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.20-$1.23 for the period, compared to the consensus earnings per share estimate of $1.32. The company issued revenue guidance of $1.55 billion-$1.60 billion, compared to the consensus revenue estimate of $1.67 billion. Agilent Technologies also updated its FY 2024 guidance to $5.44-$5.55 EPS.

Agilent Technologies Stock Up 0.7 %

Shares of Agilent Technologies stock opened at $113.98 on Tuesday. The firm has a market cap of $33.35 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 2.01 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.29 and a quick ratio of 1.68. Agilent Technologies has a 52-week low of $96.80 and a 52-week high of $160.26. The stock has a 50-day simple moving average of $109.98 and a 200-day simple moving average of $117.66.

Agilent Technologies (NYSE:A) last announced its quarterly earnings results on Monday, November 20th. The medical research company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.67 billion. Agilent Technologies had a return on equity of 29.86% and a net margin of 16.20%. The firm’s revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 EPS. On average, equities research analysts expect that Agilent Technologies will post 5.41 earnings per share for the current fiscal year.

Agilent Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 2nd will be paid a $0.236 dividend. This is a positive change from Agilent Technologies’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, December 29th. This represents a $0.94 annualized dividend and a yield of 0.83%. Agilent Technologies’s payout ratio is currently 24.61%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on A shares. TheStreet lowered Agilent Technologies from a b rating to a c+ rating in a research note on Tuesday, August 15th. JPMorgan Chase & Co. decreased their price target on Agilent Technologies from $155.00 to $150.00 and set an overweight rating on the stock in a research note on Wednesday, August 16th. Barclays decreased their price target on Agilent Technologies from $110.00 to $105.00 and set an underweight rating on the stock in a research note on Friday, September 29th. Robert W. Baird decreased their price target on Agilent Technologies from $144.00 to $140.00 and set an outperform rating on the stock in a research note on Wednesday, August 16th. Finally, Credit Suisse Group reduced their price objective on Agilent Technologies from $160.00 to $150.00 and set an outperform rating on the stock in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $143.94.

Insider Activity

In other Agilent Technologies news, VP Rodney Gonsalves sold 3,500 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $118.78, for a total value of $415,730.00. Following the completion of the sale, the vice president now directly owns 24,219 shares in the company, valued at $2,876,732.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Agilent Technologies

Several large investors have recently modified their holdings of the business. First Capital Advisors Group LLC. acquired a new stake in Agilent Technologies in the 2nd quarter valued at approximately $168,000. Covestor Ltd raised its position in Agilent Technologies by 171.0% in the 1st quarter. Covestor Ltd now owns 1,241 shares of the medical research company’s stock valued at $164,000 after buying an additional 783 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Agilent Technologies by 169.5% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,237 shares of the medical research company’s stock valued at $164,000 after buying an additional 778 shares during the last quarter. Financial Freedom LLC acquired a new stake in Agilent Technologies in the 4th quarter valued at approximately $105,000. Finally, Pacific Center for Financial Services acquired a new stake in Agilent Technologies in the 1st quarter valued at approximately $82,000. 85.42% of the stock is currently owned by institutional investors.

Agilent Technologies Company Profile

Agilent Technologies, Inc provides application focused solutions to the life sciences, diagnostics, and applied chemical markets worldwide. The Life Sciences and Applied Markets segment offers liquid chromatography systems and components; liquid chromatography mass spectrometry systems; gas chromatography systems and components; gas chromatography mass spectrometry systems; inductively coupled plasma mass spectrometry instruments; atomic absorption instruments; microwave plasma-atomic emission spectrometry instruments; inductively coupled plasma optical emission spectrometry instruments; raman spectroscopy; cell analysis plate based assays; flow cytometer; real-time cell analyzer; cell imaging systems; microplate reader; laboratory software; information management and analytics; laboratory automation and robotic systems; dissolution testing; vacuum pumps, and measurement technologies.