Bausch + Lomb (NYSE:BLCO) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Bausch + Lomb (NYSE:BLCO) released its earnings results on Wednesday. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), Briefing.com reports. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Bausch + Lomb had a negative net margin of 6.27% and a positive return on equity of 3.70%. The firm’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. Bausch + Lomb updated its FY 2024 guidance to EPS.

Bausch + Lomb Stock Up 0.1 %

Shares of BLCO traded up $0.02 during trading hours on Thursday, reaching $13.76. 580,245 shares of the stock traded hands, compared to its average volume of 483,299. Bausch + Lomb has a 52 week low of $13.16 and a 52 week high of $21.95. The company has a market cap of $4.84 billion, a price-to-earnings ratio of -18.57, a PEG ratio of 1.40 and a beta of 0.47. The stock has a fifty day simple moving average of $15.97 and a 200 day simple moving average of $15.65. The company has a current ratio of 1.74, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BLCO shares. Barclays upped their price objective on shares of Bausch + Lomb from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Wells Fargo & Company increased their price target on Bausch + Lomb from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Bausch + Lomb in a report on Thursday. Evercore cut their price target on Bausch + Lomb from $17.00 to $16.50 and set an “in-line” rating on the stock in a report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Bausch + Lomb in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.41.

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.