Zacks: Analysts Anticipate TearLab Corporation (TEAR) Will Announce Quarterly Sales of $6.90 Million
Wall Street brokerages expect TearLab Corporation (NASDAQ:TEAR) to post sales of $6.90 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for TearLab Corporation’s earnings, with estimates ranging from $6.72 million to $7.07 million. TearLab Corporation reported sales of $7.22 million in the same quarter last year, which indicates a negative year over year growth rate of 4.4%. The company is expected to issue its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that TearLab Corporation will report full year sales of $6.90 million for the current year, with estimates ranging from $27.60 million to $28.01 million. For the next fiscal year, analysts forecast that the firm will report sales of $29.81 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover TearLab Corporation.
TearLab Corporation (NASDAQ:TEAR) last announced its earnings results on Monday, August 14th. The medical research company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.07. The firm had revenue of $7 million during the quarter, compared to analysts’ expectations of $6.86 million. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of TearLab Corporation from a “hold” rating to a “buy” rating and set a $1.75 price target on the stock in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of TearLab Corporation in a research note on Tuesday, August 15th. Finally, Rodman & Renshaw dropped their price target on shares of TearLab Corporation from $12.00 to $4.00 and set a “buy” rating on the stock in a research note on Tuesday, May 16th. Five equities research analysts have rated the stock with a buy rating, TearLab Corporation presently has an average rating of “Buy” and an average price target of $4.95.
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TearLab Corporation (TEAR) opened at 1.60 on Monday. The firm has a 50 day moving average of $2.10 and a 200 day moving average of $2.81. The firm’s market cap is $9.19 million. TearLab Corporation has a 1-year low of $1.53 and a 1-year high of $8.20.
About TearLab Corporation
TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform, the TearLab Osmolarity System, which enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company, through its subsidiary TearLab Research, Inc, develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries, metabolites, genes and proteins) at the point-of-care.
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