Laboratory Corp. of America Holdings (LH) Updates FY14 Earnings Guidance
Laboratory Corp. of America Holdings (NYSE:LH) updated its FY14 earnings guidance on Friday. The company provided earnings per share guidance of $6.50-6.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.68, Analyst Ratings Network.com reports. The company issued revenue guidance of +2% to ~$5.92 billion, compared to the consensus revenue estimate of $5.91 billion.
LH has been the subject of a number of recent research reports. Analysts at William Blair upgraded shares of Laboratory Corp. of America Holdings from a market perform rating to an outperform rating in a research note on Thursday. On a related note, analysts at Maxim Group raised their price target on shares of Laboratory Corp. of America Holdings from $110.00 to $120.00 in a research note on Thursday. They now have a buy rating on the stock. Finally, analysts at Zacks reiterated a neutral rating on shares of Laboratory Corp. of America Holdings in a research note on Tuesday, May 20th. They now have a $105.00 price target on the stock. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $103.46.
Shares of Laboratory Corp. of America Holdings (NYSE:LH) opened at 105.42 on Friday. Laboratory Corp. of America Holdings has a 52 week low of $87.01 and a 52 week high of $108.00. The stock’s 50-day moving average is $103.0 and its 200-day moving average is $97.51. The company has a market cap of $8.940 billion and a price-to-earnings ratio of 17.54.
Laboratory Corp. of America Holdings (NYSE:LH) last posted its quarterly earnings results on Friday, July 18th. The company reported $1.84 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.77 by $0.07. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company posted $1.80 earnings per share. Laboratory Corp. of America Holdings’s revenue was up 3.3% compared to the same quarter last year. Analysts expect that Laboratory Corp. of America Holdings will post $6.68 EPS 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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