Covance Given “Neutral” Rating at SunTrust (CVD)
Covance (NYSE:CVD)‘s stock had its “neutral” rating reaffirmed by stock analysts at SunTrust in a report issued on Thursday. They currently have a $90.00 target price on the stock, up from their previous target price of $89.00. SunTrust’s price target indicates a potential upside of 7.24% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Covance in a research note on Tuesday, June 10th. They now have a $92.00 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Covance in a research note on Monday, May 19th. They now have a $100.00 price target on the stock, down previously from $104.00. Finally, analysts at Credit Suisse cut their price target on shares of Covance from $112.00 to $100.00 in a research note on Tuesday, May 6th. They now have an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.09.
Covance (NYSE:CVD) traded down 1.72% on Thursday, hitting $83.92. The stock had a trading volume of 568,591 shares. Covance has a 52 week low of $79.21 and a 52 week high of $106.50. The stock’s 50-day moving average is $86.35 and its 200-day moving average is $93.05. The company has a market cap of $4.662 billion and a price-to-earnings ratio of 31.19.
Covance (NYSE:CVD) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.02. The company had revenue of $687.10 million for the quarter, compared to the consensus estimate of $639.80 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, analysts predict that Covance will post $3.85 earnings per share for the current fiscal year.
Covance Inc is a drug development services company providing a range of early-stage and late-stage product development services on a worldwide basis primarily to the pharmaceutical, biotechnology and medical device industries.
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