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

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

Bausch + Lomb Stock Down 2.1 %

Shares of BLCO stock traded down $0.36 during mid-day trading on Thursday, hitting $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 quick ratio of 1.03 and a current ratio of 1.70. Bausch + Lomb has a 52-week low of $13.16 and a 52-week high of $20.30. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of -17.56, a PEG ratio of 1.74 and a beta of 0.47. The business has a 50-day moving average price of $15.50 and a 200 day moving average price of $15.35.

Analyst Ratings Changes

Several brokerages recently weighed in on BLCO. Evercore ISI increased their target price on Bausch + Lomb from $15.00 to $15.50 and gave the company an “in-line” rating in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bausch + Lomb from $14.00 to $18.00 and gave the company a “hold” rating in a report on Thursday. Evercore raised their price target on shares of Bausch + Lomb from $15.50 to $17.00 and gave the stock an “in-line” rating in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price objective on shares of Bausch + Lomb in a research note on Thursday, May 2nd. Finally, Morgan Stanley upgraded shares of Bausch + Lomb from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $16.00 to $18.00 in a 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. Based on data from MarketBeat.com, Bausch + Lomb has a consensus rating of “Moderate Buy” and a consensus target price of $19.21.

About Bausch + Lomb

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.