Mesa Labs (MLAB) Outpaces Stock Market Gains: What You Should Know
Mesa Labs (MLAB) closed the most recent trading day at $193.27, moving +0.56% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, added 7.26%.
Heading into today, shares of the quality control instruments and disposable products maker had gained 15.85% over the past month, outpacing the Medical sector's loss of 0.75% and the S&P 500's gain of 5.73% in that time.
Mesa Labs will be looking to display strength as it nears its next earnings release, which is expected to be February 6, 2023. In that report, analysts expect Mesa Labs to post earnings of $2.10 per share. This would mark year-over-year growth of 54.41%. Meanwhile, our latest consensus estimate is calling for revenue of $57.72 million, up 5.53% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.15 per share and revenue of $228.11 million, which would represent changes of +28.87% and +23.75%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Mesa Labs. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Mesa Labs currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Mesa Labs is holding a Forward P/E ratio of 21.02. For comparison, its industry has an average Forward P/E of 28.88, which means Mesa Labs is trading at a discount to the group.
The Medical - Instruments industry is part of the Medical sector. This group has a Zacks Industry Rank of 93, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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Mesa Laboratories, Inc. (MLAB) : Free Stock Analysis Report
