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Teladoc (TDOC) Gains But Lags Market: What You Should Know
Teladoc (TDOC - Free Report) closed at $24.62 in the latest trading session, marking a +1.57% move from the prior day. This move lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Coming into today, shares of the telehealth services provider had lost 19.44% in the past month. In that same time, the Medical sector lost 5.62%, while the S&P 500 lost 6.68%.
Investors will be hoping for strength from Teladoc as it approaches its next earnings release. On that day, Teladoc is projected to report earnings of -$0.50 per share, which would represent a year-over-year decline of 6.38%. Meanwhile, our latest consensus estimate is calling for revenue of $617.35 million, up 9.2% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.41 per share and revenue of $2.6 billion. These totals would mark changes of +98.33% and +7.87%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Teladoc. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. Teladoc is currently sporting a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.