Laboratory Corp. of America Holdings Given New $95.00 Price Target at Deutsche Bank (LH)
Equities research analysts at Deutsche Bank cut their target price on shares of Laboratory Corp. of America Holdings (NYSE:LH) from $110.00 to $95.00 in a research note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price target indicates a potential downside of 4.19% from the stock’s previous close.
The analysts wrote, “LH sees EPS down ~7% YoY in 2014. LH offered up preliminary 2014 adjusted EPS of $6.50 or -7% YoY and 14% below FactSet consensus $7.56. The outlook calls for +2% YoY rev growth (consensus +2.1%), and implies a surprising level of margin pressure of ~200 bps lower YoY. The outlook implies adjusted EBIT margin of ~16% vs. 2013 ~18% and recent peak margin of ~20% in 2009-2010. We are adjusting EPS and PT lower, and maintain Hold given weak fundamentals. Maintain Hold.”
Several other analysts have also recently commented on the stock. Analysts at Mizuho cut their price target on shares of Laboratory Corp. of America Holdings from $98.00 to $89.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity downgraded shares of Laboratory Corp. of America Holdings from a “buy” rating to a “hold” rating in a research note to investors on Wednesday. They now have a $91.00 price target on the stock, down previously from $115.00. Finally, analysts at UBS AG reiterated a “neutral” rating on shares of Laboratory Corp. of America Holdings in a research note to investors on Wednesday, December 4th. They now have a $101.00 price target on the stock, down previously from $105.00. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $99.74.
Laboratory Corp. of America Holdings (NYSE:LH) traded down 11.04% during mid-day trading on Wednesday, hitting $88.20. The stock had a trading volume of 5,509,651 shares. Laboratory Corp. of America Holdings has a 52-week low of $84.91 and a 52-week high of $108.00. The stock’s 50-day moving average is $102.6 and its 200-day moving average is $99.74. The company has a market cap of $7.709 billion and a P/E ratio of 16.34.
Laboratory Corp. of America Holdings (NYSE:LH) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.80. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that Laboratory Corp. of America Holdings will post $7.02 earnings per share for the current fiscal year.
Laboratory Corporation of America Holdings is a clinical laboratory company in the United States. Through a national network of laboratories, the Company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.
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