Analysts Expect Laboratory Corp. of America Holdings (NYSE:LH) Will Post Earnings of $2.84 Per Share
Analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to report earnings of $2.84 per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Laboratory Corp. of America’s earnings, with estimates ranging from $2.81 to $2.88. Laboratory Corp. of America posted earnings per share of $2.74 in the same quarter last year, which suggests a positive year over year growth rate of 3.6%. The business is scheduled to issue its next earnings results before the market opens on Thursday, October 24th.
According to Zacks, analysts expect that Laboratory Corp. of America will report full year earnings of $11.29 per share for the current year, with EPS estimates ranging from $11.20 to $11.35. For the next year, analysts expect that the business will post earnings of $12.09 per share, with EPS estimates ranging from $11.77 to $12.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Laboratory Corp. of America.
Laboratory Corp. of America (NYSE:LH) last released its quarterly earnings results on Thursday, July 25th. The medical research company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Laboratory Corp. of America had a return on equity of 16.28% and a net margin of 8.19%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.98 EPS.
In other Laboratory Corp. of America news, Director Kerrii B. Anderson sold 2,600 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.85, for a total value of $446,810.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $162.91, for a total transaction of $81,455.00. Following the sale, the director now owns 6,886 shares in the company, valued at $1,121,798.26. The disclosure for this sale can be found here. Insiders sold 11,468 shares of company stock worth $1,946,168 over the last quarter. Insiders own 0.74% of the company’s stock.
Several hedge funds have recently made changes to their positions in LH. Steward Partners Investment Advisory LLC acquired a new stake in Laboratory Corp. of America in the second quarter worth $32,000. Legacy Advisors LLC bought a new position in shares of Laboratory Corp. of America during the second quarter valued at approximately $33,000. Meeder Asset Management Inc. bought a new position in shares of Laboratory Corp. of America during the second quarter valued at approximately $33,000. C M Bidwell & Associates Ltd. increased its stake in shares of Laboratory Corp. of America by 1,636.4% during the second quarter. C M Bidwell & Associates Ltd. now owns 191 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 180 shares in the last quarter. Finally, Private Ocean LLC increased its stake in shares of Laboratory Corp. of America by 54.3% during the second quarter. Private Ocean LLC now owns 213 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 90.35% of the company’s stock.
LH stock traded down $3.04 during trading on Friday, reaching $167.46. The company had a trading volume of 683,081 shares, compared to its average volume of 565,097. Laboratory Corp. of America has a 52 week low of $119.38 and a 52 week high of $178.44. The company has a market cap of $16.66 billion, a P/E ratio of 15.20, a PEG ratio of 1.91 and a beta of 1.03. The business has a 50 day moving average of $168.96 and a 200 day moving average of $166.08. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 1.05.
About Laboratory Corp. of America
Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.
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