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- 1 Next week, Merck (MRK) is going to report its Q2 2023 earnings.
- 2 In the weekly price analysis, MRK stock price has shown a bearish market trend.
By showing weekly price drops, Merck & Co. Inc. (MRK) stock price showed bulls dominance on July 28, 2023, Friday’s trading session. The bullish trend in the stock price shows bulls’ dominance ahead of its Q2 2023 report.
If bulls will continue their potential dominance ahead of Q2 2023, then a bullish opening can be expected earlier next week. During the last quarter Q1 2023 report, MRK stock price was showing a bullish trend which took its price above the trading price of $116.00.
MRK Stock Weekly Price Analysis
This week, MRK stock price started its journey from the opening price of $110.01. Meanwhile, in the weekly price analysis, MRK stock price lost $3.67 and marked its weekly low at $105.27 on July 27, 2023, Thursday, as per the data sourced from TradingView, a web-based social network for traders.
Near the weekend, the stock price started showing bullish sentiments which pushed its price upwards. By showing a 1.02% price gain, MRK’s share price closed at $106.34 on Friday’s trading session, July 28th.
In the recent 1-month, MRK share price dropped over 6%. The stock price then showed a 2.20% decline in the recent week’s price performance. The RSI was following a downtrend moving towards the oversold zone. With the recent bullish trend, RSI started showing an upside trend.
Ahead of Q2 2023, bulls’ dominance can be expected. They may try to take MRK share price surpass at least its 200-day moving average.
Similar industry stocks, such as Cybin Inc. (NYSEAMERICAN: CYBN), Ampio Pharmaceuticals Inc. (NYSEAMERICAN: AMPE), and Immuneering Corp. (NASDAQ: IMRX) stocks are following MRK stock price, which further shows over 2% of the weekly price drop.
The Fundamental Update of Merck & Co Inc.
Merck & Co Inc. (NYSE: MRK), an American pharmaceutical company, has a market cap of nearly $269.83 Billion. According to its Q1 2023 earnings and revenue report, its net income is $2.82 Billion.
MRK price-to-sales ratio is 4.70 while the company has an Enterprise Value to EBITDA ratio of 13.40. MRK dividends are paid quarterly. The next dividend per share is expected to be $0.73 and as of today, Dividend Yield (TTM)% is 2.74%.
MRK earnings per share (EPS) for Q1 2023 is $1.40 whereas the estimation was $1.32 which accounts for 5.97% surprise. The revenue for the same period amounts to $14.49 Billion despite the estimated figure of $13.79 Billion.
For the next Q2 2023, the estimated EPS is negative $2.18, and revenue is expected to reach $14.44 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
