Analysts on Wall Street project that Labcorp Holdings (LH) will announce quarterly earnings of $3.95 per share in its forthcoming report, representing an increase of 14.5% year over year. Revenues are projected to reach $3.55 billion, increasing 6.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 0.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Labcorp metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Revenues- Diagnostics Laboratories' to reach $2.77 billion. The estimate points to a change of +7% from the year-ago quarter.
Analysts predict that the 'Revenues- Biopharma Laboratory Services' will reach $791.05 million. The estimate indicates a change of +3.1% from the prior-year quarter.
The consensus among analysts is that 'Adjusted Operating Income- Diagnostics Laboratories' will reach $423.58 million. The estimate is in contrast to the year-ago figure of $359.50 million.
Analysts' assessment points toward 'Adjusted Operating Income- Biopharma Laboratory Services' reaching $130.10 million. The estimate is in contrast to the year-ago figure of $130.80 million.
View all Key Company Metrics for Labcorp here>>>
Shares of Labcorp have demonstrated returns of +12% over the past month compared to the Zacks S&P 500 composite's -0.3% change. With a Zacks Rank #3 (Hold), LH is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Labcorp Holdings Inc. (LH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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