Clinical research company Medpace Holdings (NASDAQ: MEDP) will be reporting results this Monday after market hours. Here’s what to expect.
Medpace beat analysts’ revenue expectations by 6% last quarter, reporting revenues of $558.6 million, up 9.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ organic revenue estimates and an impressive beat of analysts’ EPS estimates.
Is Medpace a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Medpace’s revenue to grow 2.6% year on year to $542 million, slowing from the 14.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.00 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Medpace has missed Wall Street’s revenue estimates five times over the last two years.
With Medpace being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for life sciences tools & services stocks. However, the whole sector has been hit hard over the last month as stocks in Medpace’s peer group are down 2.5% on average. Medpace’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $301.61 (compared to the current share price of $311.86).
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