Bausch + Lomb (NYSE:BLCO) Releases Earnings Results, Hits Estimates

Bausch + Lomb (NYSE:BLCO) announced its quarterly earnings data on Wednesday. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13, Briefing.com reports. Bausch + Lomb had a negative net margin of 7.81% and a positive return on equity of 3.60%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted $0.18 EPS. The company’s revenue was up 17.5% on a year-over-year basis. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Stock Down 2.1 %

BLCO traded down $0.36 on Thursday, reaching $16.86. The company’s stock had a trading volume of 1,111,295 shares, compared to its average volume of 523,600. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.03. Bausch + Lomb has a 1 year low of $13.16 and a 1 year high of $20.30. The business’s 50 day moving average is $15.50 and its 200 day moving average is $15.35. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of -17.56, a price-to-earnings-growth ratio of 1.74 and a beta of 0.47.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BLCO. Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Thursday. Raymond James initiated coverage on shares of Bausch + Lomb in a research report on Wednesday, July 10th. They set an “outperform” rating and a $19.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Bausch + Lomb in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Morgan Stanley raised shares of Bausch + Lomb from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $18.00 in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Bausch + Lomb currently has a consensus rating of “Moderate Buy” and an average target price of $19.21.

Bausch + Lomb Company Profile

Bausch + Lomb Corporation operates as an eye health company in the United States, Puerto Rico, China, France, Japan, Germany, the United Kingdom, Canada, Russia, Spain, Italy, Mexico, Poland, South Korea, and internationally. It operates in three segments: Vision Care, Pharmaceuticals, and Surgical. The Vision Care segment provides contact lens that covers the spectrum of wearing modalities, including daily disposable and frequently replaced contact lenses; and contact lens care products comprising over-the-counter eye drops, eye vitamins, and mineral supplements that address various conditions, such as eye allergies, conjunctivitis, dry eye, and redness relief.