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Medpace (MEDP) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Medpace (MEDP - Free Report) reached $443, with a +1.84% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.55% for the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Coming into today, shares of the provider of outsourced clinical development services had gained 10.38% in the past month. In that same time, the Medical sector gained 0.19%, while the S&P 500 gained 4.28%.
Market participants will be closely following the financial results of Medpace in its upcoming release. The company plans to announce its earnings on July 22, 2024. In that report, analysts expect Medpace to post earnings of $2.52 per share. This would mark year-over-year growth of 30.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $529.73 million, up 14.94% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.29 per share and a revenue of $2.17 billion, signifying shifts of +27.14% and +14.92%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medpace. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Medpace is carrying a Zacks Rank of #2 (Buy).
Looking at its valuation, Medpace is holding a Forward P/E ratio of 38.55. This expresses a premium compared to the average Forward P/E of 19.68 of its industry.
It's also important to note that MEDP currently trades at a PEG ratio of 2.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical Services industry was having an average PEG ratio of 1.53.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Medpace (MEDP) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Medpace (MEDP - Free Report) reached $443, with a +1.84% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.55% for the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.63%.
Coming into today, shares of the provider of outsourced clinical development services had gained 10.38% in the past month. In that same time, the Medical sector gained 0.19%, while the S&P 500 gained 4.28%.
Market participants will be closely following the financial results of Medpace in its upcoming release. The company plans to announce its earnings on July 22, 2024. In that report, analysts expect Medpace to post earnings of $2.52 per share. This would mark year-over-year growth of 30.57%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $529.73 million, up 14.94% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.29 per share and a revenue of $2.17 billion, signifying shifts of +27.14% and +14.92%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medpace. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Medpace is carrying a Zacks Rank of #2 (Buy).
Looking at its valuation, Medpace is holding a Forward P/E ratio of 38.55. This expresses a premium compared to the average Forward P/E of 19.68 of its industry.
It's also important to note that MEDP currently trades at a PEG ratio of 2.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Medical Services industry was having an average PEG ratio of 1.53.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 102, putting it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.