Bausch + Lomb (NYSE:BLCO) Posts Earnings Results, Misses Expectations By $0.02 EPS

Bausch + Lomb (NYSE:BLCO) posted its quarterly earnings data on Wednesday. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), Briefing.com reports. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Bausch + Lomb had a positive return on equity of 3.70% and a negative net margin of 6.27%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Price Performance

BLCO stock traded down $0.29 during trading on Thursday, hitting $13.45. The stock had a trading volume of 436,079 shares, compared to its average volume of 480,953. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.09. Bausch + Lomb has a twelve month low of $13.16 and a twelve month high of $21.95. The stock has a market capitalization of $4.73 billion, a P/E ratio of -18.57, a PEG ratio of 1.40 and a beta of 0.47. The company’s 50-day moving average price is $15.97 and its two-hundred day moving average price is $15.65.

Analyst Ratings Changes

A number of research firms have recently weighed in on BLCO. Needham & Company LLC reissued a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday. Barclays raised their target price on Bausch + Lomb from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Evercore ISI raised their target price on Bausch + Lomb from $16.50 to $17.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. HC Wainwright restated a “buy” rating and issued a $20.00 target price on shares of Bausch + Lomb in a research note on Thursday. Finally, Evercore reduced their price objective on Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating for the company in a research note on Thursday, February 22nd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.41.

About Bausch + Lomb

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.