Laboratory Corp. of America Holdings Forecasted to Earn FY2018 Earnings of $11.35 Per Share (LH)

Laboratory Corp. of America Holdings (NYSE:LH) – Research analysts at Jefferies Financial Group cut their FY2018 EPS estimates for Laboratory Corp. of America in a note issued to investors on Wednesday, October 24th. Jefferies Financial Group analyst B. Tanquilut now forecasts that the medical research company will post earnings of $11.35 per share for the year, down from their prior forecast of $11.46. Jefferies Financial Group currently has a “Neutral” rating and a $180.00 target price on the stock. Jefferies Financial Group also issued estimates for Laboratory Corp. of America’s Q1 2019 earnings at $2.80 EPS, Q2 2019 earnings at $3.02 EPS, Q3 2019 earnings at $2.98 EPS, Q4 2019 earnings at $3.02 EPS and FY2020 earnings at $12.70 EPS.

Laboratory Corp. of America (NYSE:LH) last released its earnings results on Wednesday, October 24th. The medical research company reported $2.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.14). The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.84 billion. Laboratory Corp. of America had a net margin of 11.59% and a return on equity of 16.38%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 EPS.



Several other equities analysts have also recently commented on LH. ValuEngine cut shares of Laboratory Corp. of America from a “buy” rating to a “hold” rating in a research note 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 research 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 research report on Tuesday, July 24th. Mizuho restated a “hold” rating and set a $189.00 price objective on shares of Laboratory Corp. of America in a research report on Thursday, July 26th. Finally, Deutsche Bank reduced their price objective on shares of Laboratory Corp. of America from $195.00 to $190.00 and set a “hold” rating for the company in a research report on Monday, August 20th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Laboratory Corp. of America currently has a consensus rating of “Buy” and an average target price of $192.19.

Laboratory Corp. of America stock opened at $154.53 on Friday. The stock has a market cap of $17.26 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.58 and a beta of 0.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.32 and a current ratio of 1.42. Laboratory Corp. of America has a 52 week low of $147.70 and a 52 week high of $190.35.

Large investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Laboratory Corp. of America by 7,033.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 642 shares of the medical research company’s stock valued at $115,000 after purchasing an additional 633 shares in the last quarter. Fort L.P. acquired a new position in shares of Laboratory Corp. of America in the second quarter worth about $118,000. Squar Milner Financial Services LLC acquired a new position in shares of Laboratory Corp. of America in the second quarter worth about $150,000. NuWave Investment Management LLC boosted its holdings in shares of Laboratory Corp. of America by 5,786.7% in the third quarter. NuWave Investment Management LLC now owns 883 shares of the medical research company’s stock worth $154,000 after buying an additional 868 shares during the period. Finally, LeJeune Puetz Investment Counsel LLC acquired a new position in shares of Laboratory Corp. of America in the second quarter worth about $166,000. Institutional investors own 92.21% of the company’s stock.

Laboratory Corp. of America Company Profile

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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