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Medpace (MEDP) Outperforms Broader Market: What You Need to Know
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The latest trading session saw Medpace (MEDP - Free Report) ending at $326.26, denoting a +1.77% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.6%.
Shares of the provider of outsourced clinical development services have depreciated by 15.86% over the course of the past month, underperforming the Medical sector's loss of 2.27% and the S&P 500's gain of 1.71%.
The upcoming earnings release of Medpace will be of great interest to investors. The company's earnings report is expected on October 21, 2024. The company's upcoming EPS is projected at $2.78, signifying a 25.23% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $540.49 million, indicating a 9.74% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.66 per share and revenue of $2.13 billion. These totals would mark changes of +31.31% and +13.16%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medpace. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Medpace holds a Zacks Rank of #3 (Hold).
Looking at valuation, Medpace is presently trading at a Forward P/E ratio of 27.51. This indicates a premium in contrast to its industry's Forward P/E of 20.47.
We can additionally observe that MEDP currently boasts a PEG ratio of 1.67. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical Services stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Outperforms Broader Market: What You Need to Know
The latest trading session saw Medpace (MEDP - Free Report) ending at $326.26, denoting a +1.77% adjustment from its last day's close. This move outpaced the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.6%.
Shares of the provider of outsourced clinical development services have depreciated by 15.86% over the course of the past month, underperforming the Medical sector's loss of 2.27% and the S&P 500's gain of 1.71%.
The upcoming earnings release of Medpace will be of great interest to investors. The company's earnings report is expected on October 21, 2024. The company's upcoming EPS is projected at $2.78, signifying a 25.23% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $540.49 million, indicating a 9.74% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.66 per share and revenue of $2.13 billion. These totals would mark changes of +31.31% and +13.16%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Medpace. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Medpace holds a Zacks Rank of #3 (Hold).
Looking at valuation, Medpace is presently trading at a Forward P/E ratio of 27.51. This indicates a premium in contrast to its industry's Forward P/E of 20.47.
We can additionally observe that MEDP currently boasts a PEG ratio of 1.67. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Medical Services stocks are, on average, holding a PEG ratio of 1.67 based on yesterday's closing prices.
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.