In the latest trading session, Medpace (MEDP) closed at $147.53, marking a -0.05% move from the previous day. This change lagged the S&P 500's 0.3% gain on the day. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, lost 0.02%.
Heading into today, shares of the provider of outsourced clinical development services had lost 9.39% over the past month, lagging the Medical sector's loss of 5.76% and the S&P 500's loss of 4.13% in that time.
Medpace will be looking to display strength as it nears its next earnings release. On that day, Medpace is projected to report earnings of $1.47 per share, which would represent year-over-year growth of 13.95%. Meanwhile, our latest consensus estimate is calling for revenue of $355.06 million, up 20.13% from the prior-year quarter.
MEDP's full-year Zacks Consensus Estimates are calling for earnings of $6.16 per share and revenue of $1.4 billion. These results would represent year-over-year changes of +28.07% and +22.7%, respectively.
Any recent changes to analyst estimates for Medpace should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Medpace currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Medpace has a Forward P/E ratio of 23.98 right now. This valuation marks a premium compared to its industry's average Forward P/E of 17.76.
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report
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