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LabCorp (LH) Stock Sinks As Market Gains: What You Should Know
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LabCorp (LH - Free Report) closed at $271.44 in the latest trading session, marking a -0.09% move from the prior day. This move lagged the S&P 500's daily gain of 1.43%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Prior to today's trading, shares of the medical laboratory operator had gained 1.2% over the past month. This has lagged the Medical sector's gain of 5.94% and the S&P 500's gain of 5.65% in that time.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release. On that day, LabCorp is projected to report earnings of $5.87 per share, which would represent a year-over-year decline of 33.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.06 billion, down 2.48% from the year-ago period.
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 might also notice recent changes to analyst estimates for LabCorp. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.82% lower. LabCorp is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note LabCorp's current valuation metrics, including its Forward P/E ratio of 14.02. For comparison, its industry has an average Forward P/E of 20.31, which means LabCorp is trading at a discount to the group.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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) Stock Sinks As Market Gains: What You Should Know
LabCorp (LH - Free Report) closed at $271.44 in the latest trading session, marking a -0.09% move from the prior day. This move lagged the S&P 500's daily gain of 1.43%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq added 0.32%.
Prior to today's trading, shares of the medical laboratory operator had gained 1.2% over the past month. This has lagged the Medical sector's gain of 5.94% and the S&P 500's gain of 5.65% in that time.
Investors will be hoping for strength from LabCorp as it approaches its next earnings release. On that day, LabCorp is projected to report earnings of $5.87 per share, which would represent a year-over-year decline of 33.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.06 billion, down 2.48% from the year-ago period.
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 might also notice recent changes to analyst estimates for LabCorp. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.82% lower. LabCorp is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note LabCorp's current valuation metrics, including its Forward P/E ratio of 14.02. For comparison, its industry has an average Forward P/E of 20.31, which means LabCorp is trading at a discount to the group.
The Medical - Dental Supplies industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.