In the latest trading session, Teladoc (TDOC) closed at $5.56, marking a -3.64% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.22%. Elsewhere, the Dow saw a downswing of 0.66%, while the tech-heavy Nasdaq depreciated by 0.22%.
Shares of the telehealth services provider have depreciated by 7.83% over the course of the past month, underperforming the Medical sector's loss of 4.73%, and the S&P 500's gain of 1.4%.
The upcoming earnings release of Teladoc will be of great interest to investors. 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%. Alongside, our most recent consensus estimate is anticipating revenue of $585.55 million, indicating a 6.53% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.92 per share and a revenue of $2.4 billion, demonstrating changes of +19.3% and -5.03%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Teladoc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 an unchanged state. Teladoc presently features a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 105, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).