Brookdale Senior Living (BKD) Shares Gap Up on Strong Earnings

Brookdale Senior Living, Inc. (NYSE:BKD) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $8.56, but opened at $9.20. Brookdale Senior Living shares last traded at $9.26, with a volume of 4578006 shares.

The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. Brookdale Senior Living had a negative return on equity of 13.56% and a negative net margin of 21.80%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm posted ($2.22) earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis.

Several equities analysts have weighed in on BKD shares. Zacks Investment Research lowered Brookdale Senior Living from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Stifel Nicolaus cut their target price on Brookdale Senior Living from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Tuesday, August 7th. ValuEngine raised Brookdale Senior Living from a “strong sell” rating to a “sell” rating in a research note on Tuesday, August 28th. Finally, JMP Securities increased their price target on Brookdale Senior Living from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.25.

In other Brookdale Senior Living news, Director Marcus E. Bromley purchased 6,400 shares of the stock in a transaction on Tuesday, August 14th. The stock was bought at an average cost of $7.85 per share, for a total transaction of $50,240.00. Following the completion of the acquisition, the director now directly owns 54,619 shares of the company’s stock, valued at $428,759.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Brookdale Senior Living by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 15,664,280 shares of the company’s stock worth $142,390,000 after acquiring an additional 1,186,239 shares in the last quarter. Fosun International Ltd increased its holdings in shares of Brookdale Senior Living by 1.1% in the second quarter. Fosun International Ltd now owns 15,268,447 shares of the company’s stock worth $138,791,000 after acquiring an additional 168,558 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Brookdale Senior Living by 51.3% in the second quarter. BlackRock Inc. now owns 13,596,562 shares of the company’s stock worth $123,593,000 after acquiring an additional 4,612,157 shares in the last quarter. Morgan Stanley increased its holdings in shares of Brookdale Senior Living by 12.5% in the second quarter. Morgan Stanley now owns 9,928,319 shares of the company’s stock worth $90,249,000 after acquiring an additional 1,107,030 shares in the last quarter. Finally, Land & Buildings Investment Management LLC increased its holdings in shares of Brookdale Senior Living by 25.2% in the second quarter. Land & Buildings Investment Management LLC now owns 7,171,671 shares of the company’s stock worth $65,190,000 after acquiring an additional 1,442,276 shares in the last quarter.

The firm has a market capitalization of $1.67 billion, a PE ratio of -11.87 and a beta of 1.60. The company has a debt-to-equity ratio of 4.93, a current ratio of 0.75 and a quick ratio of 0.75.

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About Brookdale Senior Living (NYSE:BKD)

Brookdale Senior Living Inc owns and operates senior living communities in the United States. It operates through five segments: Retirement Centers, Assisted Living, CCRCs – Rental, Brookdale Ancillary Services, and Management Services. The Retirement Centers segment owns or leases communities comprising independent living and assisted living units in a single community that are primarily designed for middle to upper income senior citizens.

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