Bausch + Lomb (NYSE:BLCO) Releases Earnings Results, Misses Estimates By $0.02 EPS

Bausch + Lomb (NYSE:BLCO) issued its earnings results on Wednesday. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02), Briefing.com reports. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.57% and a negative net margin of 7.81%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Price Performance

Shares of NYSE:BLCO traded down $0.12 on Friday, hitting $13.74. The stock had a trading volume of 190,028 shares, compared to its average volume of 486,674. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of -14.49, a price-to-earnings-growth ratio of 1.33 and a beta of 0.47. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.74. The firm’s 50 day moving average price is $15.84 and its 200-day moving average price is $15.63.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Bausch + Lomb from $16.50 to $17.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Bausch + Lomb in a research note on Thursday. Barclays lifted their price target on Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.27.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.