$2.90 Earnings Per Share Expected for Laboratory Corp. of America Holdings (NYSE:LH) This Quarter

Equities analysts predict that Laboratory Corp. of America Holdings (NYSE:LH) will post $2.90 earnings per share for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Laboratory Corp. of America’s earnings, with the highest EPS estimate coming in at $3.05 and the lowest estimate coming in at $2.82. Laboratory Corp. of America posted earnings per share of $2.98 in the same quarter last year, which suggests a negative year over year growth rate of 2.7%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, July 25th.

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

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

A number of analysts have weighed in on the company. Citigroup increased their target price on Laboratory Corp. of America from $157.00 to $176.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Jefferies Financial Group upgraded Laboratory Corp. of America from a “hold” rating to a “buy” rating and increased their target price for the stock from $154.00 to $190.00 in a research note on Tuesday, April 2nd. Zacks Investment Research lowered Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Mizuho increased their target price on Laboratory Corp. of America from $150.00 to $174.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Finally, TheStreet upgraded Laboratory Corp. of America from a “c+” rating to a “b-” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $181.33.

LH stock opened at $172.90 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.14. The stock has a fifty day simple moving average of $166.53. Laboratory Corp. of America has a twelve month low of $119.38 and a twelve month high of $188.65. The stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05.

In other news, Director Robert E. Mittelstaedt, Jr. sold 3,700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $166.30, for a total transaction of $615,310.00. Following the transaction, the director now owns 18,909 shares of the company’s stock, valued at approximately $3,144,566.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kerrii B. Anderson sold 3,100 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $170.00, for a total value of $527,000.00. Following the transaction, the director now directly owns 22,233 shares in the company, valued at approximately $3,779,610. The disclosure for this sale can be found here. Insiders have sold a total of 21,300 shares of company stock worth $3,553,410 in the last three months. Corporate insiders own 0.74% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Shine Investment Advisory Services Inc. boosted its holdings in Laboratory Corp. of America by 30.7% in the first quarter. Shine Investment Advisory Services Inc. now owns 277 shares of the medical research company’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. ETF Managers Group LLC boosted its holdings in Laboratory Corp. of America by 8.1% in the first quarter. ETF Managers Group LLC now owns 883 shares of the medical research company’s stock worth $135,000 after acquiring an additional 66 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Laboratory Corp. of America by 1.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,827 shares of the medical research company’s stock worth $1,197,000 after acquiring an additional 74 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Laboratory Corp. of America by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,471 shares of the medical research company’s stock worth $565,000 after acquiring an additional 78 shares in the last quarter. Finally, Eukles Asset Management boosted its holdings in Laboratory Corp. of America by 0.5% in the first quarter. Eukles Asset Management now owns 14,803 shares of the medical research company’s stock worth $2,265,000 after acquiring an additional 79 shares in the last quarter. 91.45% of the stock is currently owned by 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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