Bausch + Lomb (NYSE:BLCO) jumped in trading after its Q4 results beat estimates. The global eye health company posted Q4 revenues of $1.17 billion, an increase of 18% year-over-year, beating consensus estimates of $1.11 billion.
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The company reported adjusted earnings of $0.24 per share in the fourth quarter compared to $0.23 per share in the same period last year. This surpassed Street estimates of $0.17 per share.
For FY24, Bausch + Lomb expects revenues in the range of $4.6 billion to $4.7 billion, while adjusted EBITDA is likely to be between $840 million and $890 million.
Is BLCO a Good Stock?
Analysts remain sidelined about BLCO stock with a Hold consensus rating based on two Buys and six Holds. Over the past year, BLCO stock has slid by more than 20%, and the average BLCO price target of $17.50 implies an upside potential of 19.95% at current levels. However, it is important to note that the analyst ratings will likely change in reaction to BLCO’s earnings.
