Zacks: Brokerages Anticipate Laboratory Corp. of America Holdings (LH) to Post $2.89 Earnings Per Share

Wall Street analysts expect Laboratory Corp. of America Holdings (NYSE:LH) to report $2.89 earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings. The highest EPS estimate is $3.01 and the lowest is $2.82. Laboratory Corp. of America reported earnings of $2.98 per share in the same quarter last year, which indicates a negative year over year growth rate of 3%. The business is scheduled to report its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that Laboratory Corp. of America will report full-year earnings of $11.27 per share for the current financial year, with EPS estimates ranging from $11.19 to $11.35. For the next financial year, analysts expect that the business will post earnings of $12.08 per share, with EPS estimates ranging from $11.85 to $12.45. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Laboratory Corp. of America.

Laboratory Corp. of America (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 30th. The medical research company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.09. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Laboratory Corp. of America had a return on equity of 16.59% and a net margin of 8.59%. The firm’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.78 EPS.

Several analysts have commented on the company. Zacks Investment Research raised Laboratory Corp. of America from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research note on Thursday. ValuEngine raised Laboratory Corp. of America from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. TheStreet raised Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Canaccord Genuity increased their target price on Laboratory Corp. of America from $155.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Finally, UBS Group increased their target price on Laboratory Corp. of America from $178.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $179.00.

LH traded down $0.58 on Tuesday, hitting $164.41. 704,648 shares of the company traded hands, compared to its average volume of 905,800. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.77. The company has a market cap of $16.19 billion, a PE ratio of 14.92, a P/E/G ratio of 1.70 and a beta of 1.15. Laboratory Corp. of America has a 12-month low of $119.38 and a 12-month high of $190.35.

In related news, Director Robert E. Mittelstaedt, Jr. sold 3,700 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $166.30, for a total value of $615,310.00. Following the completion of the transaction, the director now directly owns 18,909 shares of the company’s stock, valued at approximately $3,144,566.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Sanders Williams sold 500 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $162.20, for a total value of $81,100.00. Following the completion of the transaction, the director now directly owns 7,386 shares of the company’s stock, valued at $1,198,009.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,200 shares of company stock valued at $1,352,410. Company insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC purchased a new position in Laboratory Corp. of America in the 4th quarter valued at approximately $26,000. Evolution Wealth Advisors LLC acquired a new stake in Laboratory Corp. of America during the 4th quarter valued at $29,000. Bremer Trust National Association acquired a new stake in Laboratory Corp. of America during the 4th quarter valued at $31,000. Premia Global Advisors LLC acquired a new stake in Laboratory Corp. of America during the 1st quarter valued at $31,000. Finally, Osborn Williams & Donohoe LLC acquired a new stake in Laboratory Corp. of America during the 1st quarter valued at $32,000. 91.26% of the stock is owned by hedge funds and other institutional investors.

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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