Covance Receives Average Rating of “Buy” from Analysts (NYSE:CVD)
Covance (NYSE:CVD) has been given an average rating of “Buy” by the fifteen brokerages that are presently covering the stock, Analyst RN reports. Six investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $92.96.
Shares of Covance (NYSE:CVD) traded up 0.18% during mid-day trading on Monday, hitting $84.1225. 3,675 shares of the company’s stock traded hands. Covance has a 52 week low of $79.21 and a 52 week high of $106.50. The stock has a 50-day moving average of $85.51 and a 200-day moving average of $91.83. The company has a market cap of $4.756 billion and a price-to-earnings ratio of 30.67.
Covance (NYSE:CVD) last released its earnings data on Tuesday, July 29th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that Covance will post $3.86 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Covance in a research note on Friday. They now have a $88.00 price target on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Covance in a research note on Monday, August 4th. They now have a $97.00 price target on the stock, down previously from $100.00. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Covance in a research note on Thursday, July 31st. They now have a $100.00 price target on the stock, up previously from $96.00.
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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