CoDiagnostics Inc (CODX - Free Report) closed at $17.11 in the latest trading session, marking a +0.38% move from the prior day. This move outpaced the S&P 500's daily loss of 2.05%. Meanwhile, the Dow lost 1.89%, and the Nasdaq, a tech-heavy index, lost 2.07%.
CODX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.04, up 55.56% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.77 per share and revenue of $37.10 million. These totals would mark changes of +313.89% and +17155.81%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for CODX. These revisions help to show the ever-changing nature of near-term business trends. 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 benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 remained stagnant. CODX is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, CODX is holding a Forward P/E ratio of 22.14. This valuation marks a discount compared to its industry's average Forward P/E of 26.6.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% 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 CODX in the coming trading sessions, be sure to utilize Zacks.com.