Medpace (MEDP) Stock Moves -0.33%: What You Should Know

The latest trading session saw Medpace (MEDP) ending at $332.23, denoting a -0.33% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.43%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq decreased by 0.9%.Shares of the provider of outsourced clinical development services witnessed a loss of 2.63% over the previous month, beating the performance of the Medical sector with its loss of 7.03% and underperforming the S&P 500's loss of 1.98%.The upcoming earnings release of Medpace will be of great interest to investors. It is anticipated that the company will report an EPS of $2.97, marking a 20.73% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $536.37 million, indicating a 7.62% increase compared to the same quarter of the previous year.MEDP's full-year Zacks Consensus Estimates are calling for earnings of $11.93 per share and revenue of $2.11 billion. These results would represent year-over-year changes of +34.35% and +11.82%, respectively.Any recent changes to analyst estimates for Medpace should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Medpace is currently sporting a Zacks Rank of #2 (Buy).From a valuation perspective, Medpace is currently exchanging hands at a Forward P/E ratio of 27.94. This indicates a premium in contrast to its industry's Forward P/E of 16.25.Meanwhile, MEDP's PEG ratio is currently 1.78. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Medical Services stocks are, on average, holding a PEG ratio of 1.46 based on yesterday's closing prices.The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 134, finds itself in the bottom 47% echelons of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow MEDP in the coming trading sessions, be sure to utilize Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Medpace Holdings, Inc. (MEDP): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks