Bausch + Lomb Co. (NYSE:BLCO) Expected to Post Q2 2024 Earnings of $0.20 Per Share

Bausch + Lomb Co. (NYSE:BLCO) – Stock analysts at HC Wainwright boosted their Q2 2024 earnings estimates for shares of Bausch + Lomb in a research note issued on Thursday, May 2nd. HC Wainwright analyst Y. Chen now anticipates that the company will earn $0.20 per share for the quarter, up from their prior forecast of $0.17. HC Wainwright has a “Buy” rating and a $20.00 price target on the stock. The consensus estimate for Bausch + Lomb’s current full-year earnings is $0.66 per share. HC Wainwright also issued estimates for Bausch + Lomb’s Q3 2024 earnings at $0.26 EPS, FY2024 earnings at $0.89 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.25 EPS and Q4 2025 earnings at $0.29 EPS.

Bausch + Lomb (NYSE:BLCO) last issued its earnings results on Wednesday, May 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). Bausch + Lomb had a positive return on equity of 3.60% and a negative net margin of 7.81%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. Bausch + Lomb’s revenue was up 18.0% on a year-over-year basis.

A number of other equities analysts have also recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Bausch + Lomb in a research report on Wednesday. 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. Evercore reduced their target price on Bausch + Lomb from $17.00 to $15.00 and set an “in-line” rating on the stock in a research report on Thursday. 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. Finally, Royal Bank of Canada decreased their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.27.

Bausch + Lomb Price Performance

Shares of NYSE BLCO opened at $13.60 on Friday. The firm’s 50 day simple moving average is $15.76 and its 200-day simple moving average is $15.60. Bausch + Lomb has a 12 month low of $13.16 and a 12 month high of $21.95. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of -14.17, a PEG ratio of 1.31 and a beta of 0.47. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.09.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Renaissance Capital LLC grew its holdings in Bausch + Lomb by 3.0% during the 1st quarter. Renaissance Capital LLC now owns 23,076 shares of the company’s stock worth $399,000 after acquiring an additional 669 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Bausch + Lomb by 75.8% in the fourth quarter. Quadrature Capital Ltd now owns 48,258 shares of the company’s stock valued at $824,000 after buying an additional 20,803 shares during the last quarter. Freshford Capital Management LLC grew its stake in shares of Bausch + Lomb by 29.8% in the 4th quarter. Freshford Capital Management LLC now owns 1,754,123 shares of the company’s stock valued at $29,925,000 after purchasing an additional 403,062 shares during the last quarter. Gabelli Funds LLC raised its position in Bausch + Lomb by 14.5% during the 4th quarter. Gabelli Funds LLC now owns 302,000 shares of the company’s stock worth $5,152,000 after buying an additional 38,256 shares during the last quarter. Finally, Allianz Asset Management GmbH acquired a new position in Bausch + Lomb during the 4th quarter worth approximately $1,706,000. Institutional investors and hedge funds own 11.07% of the company’s stock.

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.