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

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

Bausch + Lomb Price Performance

NYSE:BLCO traded up $0.12 during mid-day trading on Thursday, hitting $13.86. 1,157,906 shares of the stock traded hands, compared to its average volume of 490,238. The business's 50-day moving average price is $15.91 and its 200 day moving average price is $15.64. The company has a market cap of $4.87 billion, a PE ratio of -18.73, a price-to-earnings-growth ratio of 1.40 and a beta of 0.47. Bausch + Lomb has a 12-month low of $13.16 and a 12-month high of $21.95. The company has a quick ratio of 1.09, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.

Analysts Set New Price Targets

BLCO has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Bausch + Lomb from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Evercore ISI lifted their price objective on shares of Bausch + Lomb from $16.50 to $17.00 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. Evercore lowered their price objective on shares of Bausch + Lomb from $17.00 to $15.00 and set an "in-line" rating on the stock in a research report on Thursday. Needham & Company LLC reaffirmed a "hold" rating on shares of Bausch + Lomb in a research report on Wednesday. Finally, Royal Bank of Canada reduced their target price on shares of Bausch + Lomb from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.27.

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.