Teladoc (TDOC) closed the most recent trading day at $5.75, moving -2.38% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
The telehealth services provider's shares have seen a decrease of 7.1% over the last month, not keeping up with the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of Teladoc in its upcoming release. On that day, Teladoc is projected to report earnings of -$0.23 per share, which would represent a year-over-year decline of 9.52%. Our most recent consensus estimate is calling for quarterly revenue of $585.55 million, down 6.53% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.92 per share and revenue of $2.4 billion, indicating changes of +19.3% and -5.03%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Teladoc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.62% decrease. Teladoc presently features a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 99, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).