47 days have passed by since the last earnings report for Zimmer Biomet Holdings, Inc. (NYSE:ZBH) and the new quarterly results look set to arrive in 40 days. The shares of ZBH at the moment are trading at a volume of 1.21 million, which compares with its normal daily standard volume of 1192564 shares. This has led to the shares of the company advancing by 1.05%, currently exchanging hands at $138.52 a share. ZBH stock has been up by $2.19 (-1.56%) ever since it reached its 52-week high of $140.71 back in September 06, 2019. It has progressed above its 50-day moving average of $135.5 and is down -0.62% over the past week. The stock has added 12.8% since the last one arrived so the question here is that will the upbeat trend in that time frame continue leading up to its next earnings release, or is the ZBH share price due for a correction?
Zimmer Biomet Holdings, Inc. (ZBH) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Monday, Oct 21, 2019, 27 analysts who are covering the company are estimating that it will record a profit of $1.75 per share, with analysts having different outlooks from $1.7 to $1.81. The current agreed outlook, when compared to the profit recorded last year, is at $1.63 a share, thus an increase of 7.36% is expected. The profit view for a complete financial year for Zimmer Biomet Holdings, Inc. is expected to be around $7.82 in current year, a growth of nearly 2.36% from last year which was $7.64.
Analyzing The Earnings History Of Zimmer Biomet Holdings, Inc. (NYSE:ZBH)
In the past few years, the ZBH stock has been known to miss the Wall Street’s earnings projection. The company missed 16% of the time, according to the data pulled on their earnings, was able to meet predictions on 3 occasions and topped expectations 7 times. Looking at the past trend, the price of Zimmer Biomet Holdings, Inc. shares had sank following the release of their earnings in 10 of the last 16 quarters.
Looking back, here is how Zimmer Biomet Holdings, Inc. (ZBH) stock reacted to earnings misses and beats. It gave investors reason to cast doubts with the price going down after 2 of the last four earnings reports. The shares of Zimmer Biomet Holdings, Inc. recorded 8.55%, -0.69%, 6.43% and -5.75%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 10.97%, -1.21%, 7.97% and -4.45%. Their post-earnings price movements have resulted in an average increase of 2.14% and an average increase of 3.32% in Zimmer Biomet Holdings, Inc. on next day and 7th day, sequentially. ZBH’s one month stock performance led to its shares rising by 0.15% with a return of 11.91% witnessed over the last 52 weeks.
Zimmer Biomet Holdings, Inc. (ZBH) Post Earnings Announcement Drift (PEAD)
Back on July 26, 2019, Zimmer Biomet Holdings, Inc. (NYSE:ZBH) released its Q2 results, in which it recorded EPS of $1.93 that exceeded consensus estimates of $1.91. After the earnings were reported, the price of ZBH stock kicked off the session at $130.5 and remained in a range of $130.5 to $136.22 on the first day. The shares were priced at $134.5 at the close with a total volume of shares being 5793693.
On April 26, 2019, the Q1 earnings report was disclosed with EPS of $1.87. This was above the estimation of $1.86 per share. The stock price range of ZBH was between $125 and $126.7 on the first-day post announcement, after opening the day at $119.5. The session came to close at $123.86 and there was a total volume of 3728559 shares.
February 01, 2019 was the day when its Q4 results were unveiled. The earnings came in at $2.18, beating the projected $2.17 per share. The very next day, ZBH stock opened at $113.59 while staying in a range of $115.26 to $118.5. At the end, it moved to $116.6 a total volume of shares been 2744526.
In the year-ago Q3 earnings on October 26, 2018, the company saw profit per share of $1.63. That was better than the $1.61 analysts had expected. Zimmer Biomet Holdings, Inc. share price started at $113.77 on the first full trading day post-earning and then exchanged hands between $115.55 and $119.01 throughout the session. The closing price of $115.13 came on the back of 3261241 shares in volume.