Capital Senior Living Co. (NYSE:CSU) shares dropped 13% during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $7.88 and last traded at $8.13. Approximately 668,424 shares changed hands during mid-day trading, an increase of 121% from the average daily volume of 301,976 shares. The stock had previously closed at $9.34.
The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.06). Capital Senior Living had a negative net margin of 6.62% and a negative return on equity of 18.31%. The company had revenue of $115.65 million during the quarter, compared to analysts’ expectations of $114.18 million.
CSU has been the subject of a number of recent analyst reports. JMP Securities set a $11.00 target price on shares of Capital Senior Living and gave the company a “buy” rating in a report on Wednesday, October 3rd. ValuEngine upgraded shares of Capital Senior Living from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Capital Senior Living from a “sell” rating to a “hold” rating in a report on Tuesday, September 18th. Stifel Nicolaus upgraded shares of Capital Senior Living from a “sell” rating to a “hold” rating and boosted their target price for the company from $8.50 to $9.00 in a report on Thursday, August 23rd. Finally, Bank of America downgraded shares of Capital Senior Living from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSU. Fox Run Management L.L.C. purchased a new stake in Capital Senior Living during the second quarter worth approximately $138,000. Dynamic Technology Lab Private Ltd purchased a new stake in Capital Senior Living during the second quarter worth approximately $168,000. Cubist Systematic Strategies LLC purchased a new stake in Capital Senior Living during the first quarter worth approximately $202,000. CAPROCK Group Inc. grew its stake in Capital Senior Living by 48.2% during the second quarter. CAPROCK Group Inc. now owns 20,290 shares of the company’s stock worth $216,000 after buying an additional 6,600 shares during the period. Finally, Engineers Gate Manager LP purchased a new stake in Capital Senior Living during the second quarter worth approximately $244,000. Institutional investors own 83.10% of the company’s stock.
The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 14.22. The company has a market capitalization of $293.68 million, a PE ratio of -28.03 and a beta of 0.91.
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About Capital Senior Living (NYSE:CSU)
Capital Senior Living Corporation owns, operates, develops, and manages senior housing communities in the United States. The company provides senior living services to the elderly, including independent and assisted living, and home care services. Its independent living services comprise daily meals, transportation, social and recreational activities, laundry, housekeeping, and 24-hour staffing; and access to health screenings, periodic special services, and dietary and similar programs, as well as ongoing exercise and fitness classes.
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