The IDEXX Laboratories, Inc. (NASDAQ:IDXX) Yearly Results Are Out And Analysts Have Published New Forecasts
It's been a pretty great week for IDEXX Laboratories, Inc. (NASDAQ:IDXX) shareholders, with its shares surging 10% to US$567 in the week since its latest full-year results. IDEXX Laboratories reported US$3.7b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of US$10.06 beat expectations, being 2.1% higher than what the analysts expected. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.
Check out our latest analysis for IDEXX Laboratories
After the latest results, the eleven analysts covering IDEXX Laboratories are now predicting revenues of US$3.99b in 2024. If met, this would reflect a solid 8.9% improvement in revenue compared to the last 12 months. Per-share earnings are expected to accumulate 7.6% to US$10.95. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$3.97b and earnings per share (EPS) of US$11.04 in 2024. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.
There were no changes to revenue or earnings estimates or the price target of US$565, suggesting that the company has met expectations in its recent result. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on IDEXX Laboratories, with the most bullish analyst valuing it at US$675 and the most bearish at US$351 per share. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.
Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The period to the end of 2024 brings more of the same, according to the analysts, with revenue forecast to display 8.9% growth on an annualised basis. That is in line with its 11% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 7.8% annually. It's clear that while IDEXX Laboratories' revenue growth is expected to continue on its current trajectory, it's only expected to grow in line with the industry itself.
The Bottom Line
The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no real changes to revenue forecasts, with the business still expected to grow in line with the overall industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.
Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for IDEXX Laboratories going out to 2026, and you can see them free on our platform here..
You can also view our analysis of IDEXX Laboratories' balance sheet, and whether we think IDEXX Laboratories is carrying too much debt, for free on our platform here.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
