Analysts expect that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will post $206.24 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Cross Country Healthcare’s earnings. The lowest sales estimate is $205.09 million and the highest is $207.28 million. Cross Country Healthcare posted sales of $207.57 million in the same quarter last year, which suggests a negative year over year growth rate of 0.6%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.
On average, analysts expect that Cross Country Healthcare will report full year sales of $206.24 million for the current financial year, with estimates ranging from $857.90 million to $877.44 million. For the next fiscal year, analysts anticipate that the business will post sales of $915.17 million per share, with estimates ranging from $886.25 million to $930.93 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Cross Country Healthcare.
Cross Country Healthcare (NASDAQ:CCRN) last posted its earnings results on Wednesday, February 28th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The business had revenue of $219.67 million for the quarter, compared to analyst estimates of $225.60 million. Cross Country Healthcare had a net margin of 4.34% and a return on equity of 10.24%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share.
A number of research firms recently issued reports on CCRN. BidaskClub upgraded shares of Cross Country Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday. ValuEngine downgraded shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. BMO Capital Markets restated an “outperform” rating and set a $13.00 target price (down from $14.00) on shares of Cross Country Healthcare in a research report on Tuesday, March 6th. Cantor Fitzgerald downgraded shares of Cross Country Healthcare from an “overweight” rating to a “neutral” rating in a research report on Friday, March 2nd. Finally, Benchmark downgraded shares of Cross Country Healthcare from a “buy” rating to a “hold” rating and set a $19.00 target price for the company. in a research report on Thursday, March 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Cross Country Healthcare has an average rating of “Hold” and an average price target of $15.14.
In other news, Director W Larry Cash acquired 5,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was bought at an average price of $11.23 per share, with a total value of $56,150.00. Following the completion of the acquisition, the director now owns 113,580 shares of the company’s stock, valued at $1,275,503.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Grubbs acquired 10,000 shares of the business’s stock in a transaction on Monday, March 5th. The stock was purchased at an average cost of $11.18 per share, with a total value of $111,800.00. Following the acquisition, the chief executive officer now directly owns 353,741 shares of the company’s stock, valued at approximately $3,954,824.38. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new position in Cross Country Healthcare in the fourth quarter valued at $156,000. Teacher Retirement System of Texas purchased a new position in Cross Country Healthcare in the fourth quarter valued at $162,000. MetLife Investment Advisors LLC purchased a new position in Cross Country Healthcare in the fourth quarter valued at $210,000. BNP Paribas Arbitrage SA increased its holdings in Cross Country Healthcare by 85.0% in the third quarter. BNP Paribas Arbitrage SA now owns 18,500 shares of the business services provider’s stock valued at $263,000 after buying an additional 8,502 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in Cross Country Healthcare in the third quarter valued at $402,000. 94.43% of the stock is owned by institutional investors.
NASDAQ CCRN traded down $0.11 on Wednesday, reaching $11.11. 73,070 shares of the company’s stock traded hands, compared to its average volume of 209,973. The company has a market capitalization of $408.77, a PE ratio of 18.39, a P/E/G ratio of 1.99 and a beta of 0.91. Cross Country Healthcare has a fifty-two week low of $9.07 and a fifty-two week high of $15.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.21 and a quick ratio of 2.21.
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About Cross Country Healthcare
Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.
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