Analysts Anticipate Laboratory Corp. of America Holdings (LH) Will Post Quarterly Sales of $2.85 Billion

Brokerages expect Laboratory Corp. of America Holdings (NYSE:LH) to announce sales of $2.85 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Laboratory Corp. of America’s earnings, with the highest sales estimate coming in at $2.88 billion and the lowest estimate coming in at $2.81 billion. Laboratory Corp. of America posted sales of $2.80 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.8%. The company is scheduled to report its next earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that Laboratory Corp. of America will report full year sales of $11.39 billion for the current fiscal year. For the next financial year, analysts forecast that the business will post sales of $11.67 billion, with estimates ranging from $11.52 billion to $11.88 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.14). Laboratory Corp. of America had a return on equity of 16.38% and a net margin of 11.59%. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. Laboratory Corp. of America’s revenue for the quarter was up 8.0% compared to the same quarter last year.

LH has been the topic of several analyst reports. ValuEngine downgraded Laboratory Corp. of America from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. SunTrust Banks restated a “buy” rating and set a $220.00 price objective on shares of Laboratory Corp. of America in a report on Friday, July 20th. Canaccord Genuity restated a “buy” rating and set a $200.00 price objective on shares of Laboratory Corp. of America in a report on Tuesday, July 24th. Jefferies Financial Group restated a “neutral” rating and set a $180.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Finally, Mizuho restated a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a report on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $192.19.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in Laboratory Corp. of America by 9.1% during the 2nd quarter. BlackRock Inc. now owns 8,711,292 shares of the medical research company’s stock valued at $1,563,937,000 after purchasing an additional 729,038 shares during the period. Iridian Asset Management LLC CT boosted its position in Laboratory Corp. of America by 4.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,758,908 shares of the medical research company’s stock valued at $315,777,000 after purchasing an additional 67,987 shares during the period. OppenheimerFunds Inc. boosted its position in Laboratory Corp. of America by 113.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 1,700,776 shares of the medical research company’s stock valued at $305,341,000 after purchasing an additional 903,554 shares during the period. Bessemer Group Inc. boosted its position in Laboratory Corp. of America by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 1,113,356 shares of the medical research company’s stock valued at $199,880,000 after purchasing an additional 13,293 shares during the period. Finally, Jennison Associates LLC boosted its position in Laboratory Corp. of America by 7.5% during the 2nd quarter. Jennison Associates LLC now owns 974,351 shares of the medical research company’s stock valued at $174,925,000 after purchasing an additional 67,926 shares during the period. Institutional investors and hedge funds own 92.21% of the company’s stock.

LH stock traded down $2.11 during midday trading on Friday, hitting $154.53. 950,737 shares of the company’s stock were exchanged, compared to its average volume of 718,626. The company has a quick ratio of 1.32, a current ratio of 1.42 and a debt-to-equity ratio of 0.86. Laboratory Corp. of America has a 12-month low of $147.70 and a 12-month high of $190.35. The company has a market capitalization of $17.26 billion, a PE ratio of 16.10, a P/E/G ratio of 1.58 and a beta of 0.97.

About Laboratory Corp. of America

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, prostate-specific antigen, tests for sexually-transmitted diseases, hepatitis C tests, vitamin D, microbiology cultures and procedures, and alcohol and other substance-abuse tests that are used by hospitals, physicians and other healthcare providers and commercial clients to assist in the diagnosis, monitoring and treatment of diseases and medical conditions through the examination of substances in blood, tissues, and other specimens.

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

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