Cross Country Healthcare (NASDAQ:CCRN) posted its earnings results on Thursday. The business services provider reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01), Briefing.com reports. The firm had revenue of $200.72 million for the quarter, compared to the consensus estimate of $200.66 million. Cross Country Healthcare had a return on equity of 7.90% and a net margin of 4.39%. The business’s revenue was down 12.2% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Cross Country Healthcare updated its Q4 guidance to $0.01-0.03 EPS.
CCRN stock traded up $0.03 during midday trading on Friday, reaching $9.50. The company had a trading volume of 11,397 shares, compared to its average volume of 236,491. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.33 and a quick ratio of 2.33. Cross Country Healthcare has a 1 year low of $7.41 and a 1 year high of $14.49. The stock has a market cap of $325.20 million, a PE ratio of 15.51, a P/E/G ratio of 3.04 and a beta of 0.79.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a report on Saturday, September 22nd. Barrington Research reaffirmed an “outperform” rating on shares of Cross Country Healthcare in a report on Thursday, August 9th. Zacks Investment Research raised shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Lake Street Capital raised shares of Cross Country Healthcare from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $12.00 in a research note on Friday. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $10.00 price target (down previously from $11.00) on shares of Cross Country Healthcare in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $13.00.
In related news, General Counsel Susan E. Ball purchased 5,091 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was acquired at an average price of $9.65 per share, with a total value of $49,128.15. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Trunfio purchased 10,650 shares of the business’s stock in a transaction on Friday, August 10th. The stock was bought at an average cost of $9.43 per share, with a total value of $100,429.50. Following the purchase, the director now owns 139,034 shares in the company, valued at $1,311,090.62. The disclosure for this purchase can be found here. In the last three months, insiders acquired 37,341 shares of company stock valued at $344,203. Corporate insiders own 3.40% of the company’s stock.
Cross Country Healthcare Company Profile
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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