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Why Medpace (MEDP) Dipped More Than Broader Market Today
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Medpace (MEDP - Free Report) closed at $561.65 in the latest trading session, marking a -1.27% move from the prior day. This change lagged the S&P 500's daily loss of 0.74%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.76%.
Prior to today's trading, shares of the provider of outsourced clinical development services had lost 2.54% lagged the Medical sector's loss of 0.8% and the S&P 500's gain of 0.79%.
Analysts and investors alike will be keeping a close eye on the performance of Medpace in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.18, showcasing a 13.9% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $681.17 million, indicating a 26.94% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.8 per share and revenue of $2.5 billion. These totals would mark changes of +17.18% and +18.68%, respectively, from last year.
Any recent changes to analyst estimates for Medpace should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Right now, Medpace possesses a Zacks Rank of #2 (Buy).
Investors should also note Medpace's current valuation metrics, including its Forward P/E ratio of 38.45. This denotes a premium relative to the industry average Forward P/E of 15.5.
We can additionally observe that MEDP currently boasts a PEG ratio of 2.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical Services was holding an average PEG ratio of 1.72 at yesterday's closing price.
The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 165, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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 MEDP in the coming trading sessions, be sure to utilize Zacks.com.
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Why Medpace (MEDP) Dipped More Than Broader Market Today
Medpace (MEDP - Free Report) closed at $561.65 in the latest trading session, marking a -1.27% move from the prior day. This change lagged the S&P 500's daily loss of 0.74%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.76%.
Prior to today's trading, shares of the provider of outsourced clinical development services had lost 2.54% lagged the Medical sector's loss of 0.8% and the S&P 500's gain of 0.79%.
Analysts and investors alike will be keeping a close eye on the performance of Medpace in its upcoming earnings disclosure. The company is forecasted to report an EPS of $4.18, showcasing a 13.9% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $681.17 million, indicating a 26.94% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $14.8 per share and revenue of $2.5 billion. These totals would mark changes of +17.18% and +18.68%, respectively, from last year.
Any recent changes to analyst estimates for Medpace should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Right now, Medpace possesses a Zacks Rank of #2 (Buy).
Investors should also note Medpace's current valuation metrics, including its Forward P/E ratio of 38.45. This denotes a premium relative to the industry average Forward P/E of 15.5.
We can additionally observe that MEDP currently boasts a PEG ratio of 2.15. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical Services was holding an average PEG ratio of 1.72 at yesterday's closing price.
The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 165, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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 MEDP in the coming trading sessions, be sure to utilize Zacks.com.