Zacks: Analysts Anticipate Laboratory Co. of America Holdings (NYSE:LH) Will Announce Earnings of $4.82 Per Share

Equities research analysts predict that Laboratory Co. of America Holdings (NYSE:LHGet Rating) will announce $4.82 earnings per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Laboratory Co. of America’s earnings, with estimates ranging from $4.42 to $5.24. Laboratory Co. of America posted earnings of $6.13 per share in the same quarter last year, which indicates a negative year over year growth rate of 21.4%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Laboratory Co. of America will report full year earnings of $19.90 per share for the current financial year, with EPS estimates ranging from $19.48 to $20.64. For the next financial year, analysts expect that the business will post earnings of $18.06 per share, with EPS estimates ranging from $17.38 to $18.80. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Laboratory Co. of America.

Laboratory Co. of America (NYSE:LHGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The medical research company reported $6.11 EPS for the quarter, topping the consensus estimate of $5.88 by $0.23. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $4.01 billion. Laboratory Co. of America had a return on equity of 23.84% and a net margin of 13.24%. Laboratory Co. of America’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.79 earnings per share.

LH has been the subject of a number of research reports. Credit Suisse Group lowered their price target on Laboratory Co. of America from $344.00 to $312.00 in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Laboratory Co. of America from $294.00 to $265.00 in a research report on Tuesday, May 3rd. Mizuho cut their price target on Laboratory Co. of America from $354.00 to $323.00 in a research report on Wednesday, May 4th. Morgan Stanley dropped their target price on Laboratory Co. of America from $380.00 to $360.00 and set an “overweight” rating on the stock in a research report on Monday, February 14th. Finally, Citigroup raised their price target on shares of Laboratory Co. of America from $340.00 to $350.00 in a research note on Friday, February 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Laboratory Co. of America currently has an average rating of “Buy” and an average target price of $303.75.

In other Laboratory Co. of America news, CMO Amy B. Summy sold 249 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $262.21, for a total transaction of $65,290.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director R Sanders Williams sold 572 shares of the firm’s stock in a transaction dated Friday, March 25th. The stock was sold at an average price of $272.98, for a total transaction of $156,144.56. The disclosure for this sale can be found here. Insiders sold 3,177 shares of company stock worth $874,306 over the last quarter. Company insiders own 0.31% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Kentucky Retirement Systems increased its position in shares of Laboratory Co. of America by 0.6% in the third quarter. Kentucky Retirement Systems now owns 5,721 shares of the medical research company’s stock worth $1,610,000 after acquiring an additional 35 shares in the last quarter. Veritable L.P. lifted its stake in Laboratory Co. of America by 2.4% in the third quarter. Veritable L.P. now owns 1,520 shares of the medical research company’s stock valued at $428,000 after acquiring an additional 36 shares during the last quarter. Condor Capital Management lifted its stake in Laboratory Co. of America by 0.4% in the fourth quarter. Condor Capital Management now owns 9,835 shares of the medical research company’s stock valued at $3,090,000 after acquiring an additional 37 shares during the last quarter. Leuthold Group LLC lifted its stake in Laboratory Co. of America by 0.3% in the third quarter. Leuthold Group LLC now owns 13,413 shares of the medical research company’s stock valued at $3,775,000 after acquiring an additional 41 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Laboratory Co. of America by 0.5% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,241 shares of the medical research company’s stock worth $2,589,000 after buying an additional 41 shares during the last quarter. Institutional investors own 92.02% of the company’s stock.

Shares of NYSE:LH traded up $0.95 during mid-day trading on Monday, reaching $249.50. The stock had a trading volume of 593,053 shares, compared to its average volume of 891,573. The business’s 50 day moving average price is $260.99 and its 200 day moving average price is $274.98. The company has a current ratio of 1.98, a quick ratio of 1.81 and a debt-to-equity ratio of 0.51. Laboratory Co. of America has a 1 year low of $232.01 and a 1 year high of $317.17. The company has a market cap of $23.13 billion, a P/E ratio of 11.45 and a beta of 1.04.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 9th. Shareholders of record on Thursday, May 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, May 18th. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America’s payout ratio is currently 13.22%.

About Laboratory Co. of America (Get Rating)

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates in two segments, Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). It offers various 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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