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Why the Market Dipped But Teladoc (TDOC) Gained Today
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Teladoc (TDOC - Free Report) closed the latest trading day at $19.19, indicating a +1.43% change from the previous session's end. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
The the stock of telehealth services provider has fallen by 8.91% in the past month, lagging the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6%.
The upcoming earnings release of Teladoc will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company's upcoming EPS is projected at -$0.37, signifying a 17.78% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $662.75 million, indicating an 8.4% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.36 per share and a revenue of $2.63 billion, signifying shifts of +98.39% and +9.21%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teladoc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.27% upward. At present, Teladoc boasts a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why the Market Dipped But Teladoc (TDOC) Gained Today
Teladoc (TDOC - Free Report) closed the latest trading day at $19.19, indicating a +1.43% change from the previous session's end. This change outpaced the S&P 500's 0.01% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.25%.
The the stock of telehealth services provider has fallen by 8.91% in the past month, lagging the Medical sector's loss of 2.91% and the S&P 500's loss of 1.6%.
The upcoming earnings release of Teladoc will be of great interest to investors. The company's earnings report is expected on October 24, 2023. The company's upcoming EPS is projected at -$0.37, signifying a 17.78% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $662.75 million, indicating an 8.4% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$1.36 per share and a revenue of $2.63 billion, signifying shifts of +98.39% and +9.21%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teladoc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.27% upward. At present, Teladoc boasts a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 91, positioning it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.