Wall Street brokerages forecast that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will report sales of $201.31 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cross Country Healthcare’s earnings, with the lowest sales estimate coming in at $198.40 million and the highest estimate coming in at $203.73 million. Cross Country Healthcare reported sales of $228.49 million in the same quarter last year, which would suggest a negative year over year growth rate of 11.9%. The company is expected to announce its next quarterly earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that Cross Country Healthcare will report full-year sales of $825.12 million for the current fiscal year, with estimates ranging from $819.50 million to $829.15 million. For the next fiscal year, analysts expect that the firm will report sales of $850.70 million per share, with estimates ranging from $838.00 million to $862.01 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Cross Country Healthcare.
Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $204.57 million for the quarter, compared to analyst estimates of $209.29 million. Cross Country Healthcare had a return on equity of 7.90% and a net margin of 4.39%. Cross Country Healthcare’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS.
A number of brokerages have weighed in on CCRN. ValuEngine raised Cross Country Healthcare from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. Barrington Research reissued a “buy” rating and set a $15.00 price target on shares of Cross Country Healthcare in a research report on Tuesday, May 22nd. Zacks Investment Research downgraded Cross Country Healthcare from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. BMO Capital Markets downgraded Cross Country Healthcare from an “outperform” rating to a “market perform” rating and set a $13.00 price target on the stock. in a research report on Thursday, August 2nd. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $10.00 price target (down previously from $11.00) on shares of Cross Country Healthcare in a research report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $13.14.
Shares of NASDAQ CCRN opened at $9.60 on Friday. The company has a market cap of $363.31 million, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.33 and a current ratio of 2.33. Cross Country Healthcare has a twelve month low of $7.41 and a twelve month high of $14.65.
In other news, insider William J. Grubbs acquired 10,000 shares of Cross Country Healthcare stock in a transaction dated Wednesday, August 8th. The stock was bought at an average price of $8.93 per share, for a total transaction of $89,300.00. Following the completion of the acquisition, the insider now directly owns 422,291 shares in the company, valued at approximately $3,771,058.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Susan E. Ball acquired 5,091 shares of Cross Country Healthcare stock in a transaction dated Thursday, August 9th. The shares were purchased at an average price of $9.65 per share, with a total value of $49,128.15. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 37,241 shares of company stock valued at $343,253. Corporate insiders own 3.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Koch Industries Inc. bought a new stake in shares of Cross Country Healthcare during the first quarter worth approximately $117,000. Alambic Investment Management L.P. bought a new stake in shares of Cross Country Healthcare during the second quarter worth approximately $122,000. Aperio Group LLC bought a new stake in shares of Cross Country Healthcare during the first quarter worth approximately $133,000. Renaissance Technologies LLC bought a new stake in shares of Cross Country Healthcare during the fourth quarter worth approximately $156,000. Finally, Barclays PLC boosted its holdings in shares of Cross Country Healthcare by 118.6% during the first quarter. Barclays PLC now owns 12,283 shares of the business services provider’s stock worth $136,000 after acquiring an additional 6,665 shares during the period. Institutional investors own 89.98% of the company’s stock.
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.
Further Reading: Investing in Growth Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cross Country Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cross Country Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.