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LabCorp (LH) Stock Moves -0.42%: What You Should Know
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In the latest trading session, LabCorp (LH - Free Report) closed at $270.87, marking a -0.42% move from the previous day. This change was narrower than the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the medical laboratory operator had lost 10.58% over the past month. This has lagged the Medical sector's loss of 7.84% and the S&P 500's loss of 1.81% in that time.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release, which is expected to be February 10, 2022. On that day, LabCorp is projected to report earnings of $5.81 per share, which would represent a year-over-year decline of 44.98%. Meanwhile, our latest consensus estimate is calling for revenue of $3.9 billion, down 13.16% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for LabCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.61% higher within the past month. LabCorp currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, LabCorp is holding a Forward P/E ratio of 14.72. This represents a discount compared to its industry's average Forward P/E of 19.18.
Investors should also note that LH has a PEG ratio of 1.39 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.55 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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LabCorp (LH) Stock Moves -0.42%: What You Should Know
In the latest trading session, LabCorp (LH - Free Report) closed at $270.87, marking a -0.42% move from the previous day. This change was narrower than the S&P 500's 1.1% loss on the day. Meanwhile, the Dow lost 0.89%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the medical laboratory operator had lost 10.58% over the past month. This has lagged the Medical sector's loss of 7.84% and the S&P 500's loss of 1.81% in that time.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release, which is expected to be February 10, 2022. On that day, LabCorp is projected to report earnings of $5.81 per share, which would represent a year-over-year decline of 44.98%. Meanwhile, our latest consensus estimate is calling for revenue of $3.9 billion, down 13.16% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for LabCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.61% higher within the past month. LabCorp currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, LabCorp is holding a Forward P/E ratio of 14.72. This represents a discount compared to its industry's average Forward P/E of 19.18.
Investors should also note that LH has a PEG ratio of 1.39 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Medical - Dental Supplies stocks are, on average, holding a PEG ratio of 1.55 based on yesterday's closing prices.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 74, which puts it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.