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LabCorp (LH) Stock Moves -0.4%: What You Should Know
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In the latest trading session, LabCorp (LH - Free Report) closed at $265.73, marking a -0.4% move from the previous day. This change was narrower than the S&P 500's 0.54% loss on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the medical laboratory operator had lost 13.57% over the past month, lagging the Medical sector's loss of 12.54% and the S&P 500's loss of 7.87% in that time.
LabCorp will be looking to display strength as it nears its next earnings release, which is expected to be February 10, 2022. On that day, LabCorp is projected to report earnings of $5.81 per share, which would represent a year-over-year decline of 44.98%. Meanwhile, our latest consensus estimate is calling for revenue of $3.9 billion, down 13.16% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for LabCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 4.61% higher. LabCorp is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, LabCorp currently has a Forward P/E ratio of 14.43. Its industry sports an average Forward P/E of 18.4, so we one might conclude that LabCorp is trading at a discount comparatively.
Investors should also note that LH has a PEG ratio of 1.37 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Dental Supplies was holding an average PEG ratio of 1.53 at yesterday's closing price.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LH in the coming trading sessions, be sure to utilize Zacks.com.
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LabCorp (LH) Stock Moves -0.4%: What You Should Know
In the latest trading session, LabCorp (LH - Free Report) closed at $265.73, marking a -0.4% move from the previous day. This change was narrower than the S&P 500's 0.54% loss on the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the medical laboratory operator had lost 13.57% over the past month, lagging the Medical sector's loss of 12.54% and the S&P 500's loss of 7.87% in that time.
LabCorp will be looking to display strength as it nears its next earnings release, which is expected to be February 10, 2022. On that day, LabCorp is projected to report earnings of $5.81 per share, which would represent a year-over-year decline of 44.98%. Meanwhile, our latest consensus estimate is calling for revenue of $3.9 billion, down 13.16% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for LabCorp. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 has moved 4.61% higher. LabCorp is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, LabCorp currently has a Forward P/E ratio of 14.43. Its industry sports an average Forward P/E of 18.4, so we one might conclude that LabCorp is trading at a discount comparatively.
Investors should also note that LH has a PEG ratio of 1.37 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Dental Supplies was holding an average PEG ratio of 1.53 at yesterday's closing price.
The Medical - Dental Supplies industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LH in the coming trading sessions, be sure to utilize Zacks.com.