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LabCorp (LH) Gains But Lags Market: What You Should Know
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LabCorp (LH - Free Report) closed at $274.33 in the latest trading session, marking a +0.11% move from the prior day. This move lagged the S&P 500's daily gain of 1.24%. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.15%.
Prior to today's trading, shares of the medical laboratory operator had gained 1.63% over the past month. This has outpaced the Medical sector's gain of 0.3% and the S&P 500's loss of 2.45% in that time.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release. In that report, analysts expect LabCorp to post earnings of $5.87 per share. This would mark a year-over-year decline of 33.22%. Meanwhile, our latest consensus estimate is calling for revenue of $4.06 billion, down 2.48% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.38 per share and revenue of $15.42 billion, which would represent changes of -32.05% and -4.37%, respectively, from the prior year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.52% higher. LabCorp is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, LabCorp currently has a Forward P/E ratio of 14.14. This valuation marks a discount compared to its industry's average Forward P/E of 20.22.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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LabCorp (LH) Gains But Lags Market: What You Should Know
LabCorp (LH - Free Report) closed at $274.33 in the latest trading session, marking a +0.11% move from the prior day. This move lagged the S&P 500's daily gain of 1.24%. Meanwhile, the Dow gained 1.23%, and the Nasdaq, a tech-heavy index, added 0.15%.
Prior to today's trading, shares of the medical laboratory operator had gained 1.63% over the past month. This has outpaced the Medical sector's gain of 0.3% and the S&P 500's loss of 2.45% in that time.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release. In that report, analysts expect LabCorp to post earnings of $5.87 per share. This would mark a year-over-year decline of 33.22%. Meanwhile, our latest consensus estimate is calling for revenue of $4.06 billion, down 2.48% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $19.38 per share and revenue of $15.42 billion, which would represent changes of -32.05% and -4.37%, respectively, from the prior year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.52% higher. LabCorp is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, LabCorp currently has a Forward P/E ratio of 14.14. This valuation marks a discount compared to its industry's average Forward P/E of 20.22.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.