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In the latest trading session, Medpace (MEDP) closed at $339.05, marking a +0.52% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.73%. Meanwhile, the Dow gained 0.16%, and the Nasdaq, a tech-heavy index, added 0.98%.
Coming into today, shares of the provider of outsourced clinical development services had lost 0.14% in the past month. In that same time, the Medical sector lost 3.8%, while the S&P 500 gained 0.34%.
The investment community will be closely monitoring the performance of Medpace in its forthcoming earnings report. The company is predicted to post an EPS of $2.97, indicating a 20.73% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $536.37 million, indicating a 7.62% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $11.93 per share and a revenue of $2.11 billion, signifying shifts of +34.35% and +11.82%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Medpace. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 remained stagnant within the past month. At present, Medpace boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Medpace has a Forward P/E ratio of 28.27 right now. This represents a premium compared to its industry's average Forward P/E of 16.87.
Investors should also note that MEDP has a PEG ratio of 1.8 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical Services was holding an average PEG ratio of 1.48 at yesterday's closing price.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% of all 250+ industries.