Brokerages Anticipate Laboratory Corp. of America Holdings (LH) Will Announce Earnings of $2.53 Per Share

Wall Street brokerages forecast that Laboratory Corp. of America Holdings (NYSE:LH) will post earnings per share of $2.53 for the current quarter, Zacks reports. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings, with estimates ranging from $2.49 to $2.58. Laboratory Corp. of America posted earnings of $2.78 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 9%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that Laboratory Corp. of America will report full year earnings of $11.22 per share for the current fiscal year, with EPS estimates ranging from $11.15 to $11.26. For the next fiscal year, analysts anticipate that the firm will report earnings of $12.00 per share, with EPS estimates ranging from $11.80 to $12.30. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last issued its earnings results on Thursday, February 7th. The medical research company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.48 by $0.04. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Laboratory Corp. of America had a return on equity of 17.05% and a net margin of 8.43%. The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.45 EPS.

A number of research analysts recently issued reports on LH shares. Wolfe Research started coverage on Laboratory Corp. of America in a research report on Tuesday, April 2nd. They set an “underperform” rating for the company. Credit Suisse Group boosted their price objective on Laboratory Corp. of America from $160.00 to $164.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. Bank of America lowered Laboratory Corp. of America from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 3rd. ValuEngine lowered Laboratory Corp. of America from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. Finally, UBS Group started coverage on Laboratory Corp. of America in a research report on Thursday, January 17th. They set a “buy” rating and a $169.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $175.50.

In other Laboratory Corp. of America news, Director R Sanders Williams sold 1,038 shares of Laboratory Corp. of America stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $147.00, for a total transaction of $152,586.00. Following the sale, the director now owns 8,924 shares of the company’s stock, valued at approximately $1,311,828. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Commonwealth Bank of Australia raised its stake in shares of Laboratory Corp. of America by 21.3% in the 4th quarter. Commonwealth Bank of Australia now owns 10,902 shares of the medical research company’s stock worth $1,373,000 after buying an additional 1,911 shares in the last quarter. Norges Bank bought a new stake in shares of Laboratory Corp. of America in the 4th quarter worth $120,695,000. BRYN MAWR TRUST Co raised its stake in shares of Laboratory Corp. of America by 8.1% in the 4th quarter. BRYN MAWR TRUST Co now owns 35,695 shares of the medical research company’s stock worth $4,510,000 after buying an additional 2,666 shares in the last quarter. Stone Ridge Asset Management LLC raised its stake in shares of Laboratory Corp. of America by 8.7% in the 4th quarter. Stone Ridge Asset Management LLC now owns 5,934 shares of the medical research company’s stock worth $750,000 after buying an additional 475 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Laboratory Corp. of America by 7.3% in the 4th quarter. Nordea Investment Management AB now owns 2,120,509 shares of the medical research company’s stock worth $267,945,000 after buying an additional 143,426 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:LH opened at $145.22 on Friday. Laboratory Corp. of America has a 12-month low of $119.38 and a 12-month high of $190.35. The company has a market cap of $14.33 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.48 and a beta of 1.15. The company has a quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.87.

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.

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

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