RadNet (RDNT) Stock Sinks As Market Gains: What You Should Know
RadNet (RDNT) closed at $31.96 in the latest trading session, marking a -0.87% move from the prior day.
RadNet (RDNT) closed the most recent trading day at $31.96, moving -0.87% from the previous trading session. This change lagged the S&P 500's 0.37% gain on the day.
Heading into today, shares of the operator of medical diagnostic imaging centers had gained 11.63% over the past month, outpacing the Medical sector's gain of 4.38% and the S&P 500's gain of 5.96% in that time.
Investors will be hoping for strength from RDNT as it approaches its next earnings release, which is expected to be November 8, 2021. In that report, analysts expect RDNT to post earnings of $0.20 per share. This would mark year-over-year growth of 33.33%. Our most recent consensus estimate is calling for quarterly revenue of $342.25 million, up 17.3% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.76 per share and revenue of $1.34 billion. These totals would mark changes of +461.9% and +25.28%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for RDNT. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. RDNT is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that RDNT has a Forward P/E ratio of 42.7 right now. This represents a premium compared to its industry's average Forward P/E of 26.65.
The Medical - Outpatient and Home Healthcare industry is part of the Medical sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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