Clinical research company Medpace Holdings (NASDAQ: MEDP) will be announcing earnings results this Wednesday afternoon. Here’s what to expect.
Medpace beat analysts’ revenue expectations by 11.3% last quarter, reporting revenues of $603.3 million, up 14.2% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ revenue estimates.
Is Medpace a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Medpace’s revenue to grow 20.4% year on year to $642.3 million, improving from the 8.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.57 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 four 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, there has been positive investor sentiment in the segment, with share prices up 4.7% on average over the last month. Medpace is up 10.4% during the same time and is heading into earnings with an average analyst price target of $437.36 (compared to the current share price of $550).
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