Zacks: Analysts Expect Laboratory Corp. of America Holdings (NYSE:LH) Will Announce Earnings of $4.76 Per Share

Equities analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to report earnings of $4.76 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Laboratory Corp. of America’s earnings. The lowest EPS estimate is $3.62 and the highest is $6.53. Laboratory Corp. of America posted earnings per share of $2.90 during the same quarter last year, which would suggest a positive year over year growth rate of 64.1%. The company is expected to issue its next earnings results before the market opens on Tuesday, October 27th.

On average, analysts expect that Laboratory Corp. of America will report full-year earnings of $14.04 per share for the current year, with EPS estimates ranging from $12.15 to $16.80. For the next year, analysts expect that the business will post earnings of $14.53 per share, with EPS estimates ranging from $13.35 to $16.26. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last announced its quarterly earnings data on Tuesday, July 28th. The medical research company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $1.79. Laboratory Corp. of America had a return on equity of 14.39% and a net margin of 3.16%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the business earned $2.93 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis.

A number of research analysts recently weighed in on LH shares. Wolfe Research raised Laboratory Corp. of America from a “peer perform” rating to an “outperform” rating and raised their price objective for the company from $202.00 to $217.00 in a research note on Monday, July 13th. ValuEngine lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a report on Tuesday, August 11th. Zacks Investment Research downgraded Laboratory Corp. of America from a “strong-buy” rating to a “hold” rating and set a $206.00 target price for the company. in a research report on Friday, July 31st. Deutsche Bank raised their target price on Laboratory Corp. of America from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their target price on Laboratory Corp. of America from $118.00 to $223.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $214.44.

In related news, EVP Der Vaart Sandra D. Van sold 435 shares of Laboratory Corp. of America stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $170.00, for a total transaction of $73,950.00. Following the completion of the sale, the executive vice president now directly owns 4,044 shares of the company’s stock, valued at $687,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 1,300 shares of Laboratory Corp. of America stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $173.12, for a total value of $225,056.00. Following the sale, the director now directly owns 6,395 shares of the company’s stock, valued at $1,107,102.40. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. Blair William & Co. IL grew its position in shares of Laboratory Corp. of America by 30.7% in the first quarter. Blair William & Co. IL now owns 5,126 shares of the medical research company’s stock valued at $648,000 after purchasing an additional 1,204 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Laboratory Corp. of America by 0.9% during the 1st quarter. Mutual of America Capital Management LLC now owns 13,227 shares of the medical research company’s stock valued at $1,672,000 after purchasing an additional 116 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV acquired a new position in Laboratory Corp. of America during the 1st quarter valued at about $237,000. Harbor Investment Advisory LLC boosted its stake in Laboratory Corp. of America by 316.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 208 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 158 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Laboratory Corp. of America by 51.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 20,002 shares of the medical research company’s stock worth $2,528,000 after buying an additional 6,815 shares in the last quarter. 88.65% of the stock is owned by hedge funds and other institutional investors.

LH opened at $186.47 on Friday. Laboratory Corp. of America has a fifty-two week low of $98.02 and a fifty-two week high of $206.74. The business has a 50-day moving average of $181.38 and a 200-day moving average of $167.80. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.12 and a quick ratio of 1.01. The company has a market capitalization of $18.16 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 1.52 and a beta of 1.32.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, LabCorp Diagnostics (LCD) and Covance Drug Development. It offers various clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C and vitamin D products, prostate-specific antigens, tests for sexually-transmitted diseases, hepatitis C tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests.

Featured Article: Blockchain

Get a free copy of the Zacks research report on Laboratory Corp. of America (LH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Laboratory Corp. of America (NYSE:LH)

Receive News & Ratings for Laboratory Corp. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Laboratory Corp. of America and related companies with MarketBeat.com's FREE daily email newsletter.