While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for CoDiagnostics, Inc. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? Shares have lost about 25.9% since the beginning of the year versus the S&P 500's decline of -11.7%.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.ĬoDiagnostics, Inc. The company has topped consensus revenue estimates two times over the last four quarters. This compares to year-ago revenues of $27.36 million. , which belongs to the Zacks Medical Services industry, posted revenues of $5.02 million for the quarter ended June 2022, missing the Zacks Consensus Estimate by 75.50%. Over the last four quarters, the company has surpassed consensus EPS estimates three times.ĬoDiagnostics, Inc. A quarter ago, it was expected that this company would post earnings of $0.18 per share when it actually produced earnings of $0.26, delivering a surprise of 44.44%. This quarterly report represents an earnings surprise of -166.67%. These figures are adjusted for non-recurring items. This compares to earnings of $0.33 per share a year ago. (CODX) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of $0.15.
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