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Teladoc (TDOC) Stock Dips While Market Gains: Key Facts
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In the latest trading session, Teladoc (TDOC - Free Report) closed at $8.60, marking a -0.92% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq gained 0.76%.
Heading into today, shares of the telehealth services provider had gained 2.48% over the past month, outpacing the Medical sector's loss of 3.79% and the S&P 500's gain of 1.47% in that time.
Market participants will be closely following the financial results of Teladoc in its upcoming release. The company plans to announce its earnings on October 30, 2024. In that report, analysts expect Teladoc to post earnings of -$0.29 per share. This would mark year-over-year growth of 17.14%. In the meantime, our current consensus estimate forecasts the revenue to be $630.5 million, indicating a 4.5% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.36 per share and revenue of $2.55 billion. These totals would mark changes of -300% and -1.97%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Teladoc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Teladoc boasts a Zacks Rank of #4 (Sell).
The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Teladoc (TDOC) Stock Dips While Market Gains: Key Facts
In the latest trading session, Teladoc (TDOC - Free Report) closed at $8.60, marking a -0.92% move from the previous day. The stock's performance was behind the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq gained 0.76%.
Heading into today, shares of the telehealth services provider had gained 2.48% over the past month, outpacing the Medical sector's loss of 3.79% and the S&P 500's gain of 1.47% in that time.
Market participants will be closely following the financial results of Teladoc in its upcoming release. The company plans to announce its earnings on October 30, 2024. In that report, analysts expect Teladoc to post earnings of -$0.29 per share. This would mark year-over-year growth of 17.14%. In the meantime, our current consensus estimate forecasts the revenue to be $630.5 million, indicating a 4.5% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.36 per share and revenue of $2.55 billion. These totals would mark changes of -300% and -1.97%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Teladoc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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.
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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Teladoc boasts a Zacks Rank of #4 (Sell).
The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 167, finds itself in the bottom 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.