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Biopharmaceutical company Gilead Sciences (NASDAQ:GILD) will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Gilead Sciences beat analysts’ revenue expectations by 6.3% last quarter, reporting revenues of $7.57 billion, up 6.4% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and an impressive beat of analysts’ EPS estimates.
Is Gilead Sciences a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Gilead Sciences’s revenue to grow 1.3% year on year to $6.77 billion, slowing from the 5.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.74 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gilead Sciences has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 3.6% on average.
With Gilead Sciences being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for biotechnology stocks. However, the whole sector has been hit hard over the last month as stocks in Gilead Sciences’s peer group are down 8.6% on average. Gilead Sciences is down 2% during the same time and is heading into earnings with an average analyst price target of $113.74 (compared to the current share price of $105.70).
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