Zacks: Analysts Expect Castlight Health Inc (CSLT) Will Announce Earnings of -$0.03 Per Share

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Equities research analysts expect that Castlight Health Inc (NYSE:CSLT) will report earnings of ($0.03) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Castlight Health’s earnings, with estimates ranging from ($0.04) to ($0.02). Castlight Health posted earnings of ($0.05) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 40%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Castlight Health will report full year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.15) to ($0.12). For the next fiscal year, analysts anticipate that the business will post earnings of $0.01 per share, with EPS estimates ranging from ($0.03) to $0.04. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Castlight Health.

Castlight Health (NYSE:CSLT) last released its quarterly earnings results on Monday, July 30th. The software maker reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $37.70 million during the quarter, compared to analysts’ expectations of $36.85 million. Castlight Health had a negative return on equity of 22.89% and a negative net margin of 38.02%. Castlight Health’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS.

A number of equities analysts have commented on CSLT shares. William Blair started coverage on Castlight Health in a report on Wednesday, June 20th. They set an “outperform” rating for the company. Zacks Investment Research raised Castlight Health from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, July 11th. ValuEngine raised Castlight Health from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Dougherty & Co increased their target price on Castlight Health from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, July 23rd. Finally, Chardan Capital cut Castlight Health from a “buy” rating to a “neutral” rating and reduced their target price for the company from $6.00 to $4.80 in a report on Tuesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Castlight Health currently has a consensus rating of “Buy” and an average target price of $5.56.

NYSE CSLT traded up $0.10 during trading hours on Friday, reaching $2.85. The company’s stock had a trading volume of 747,000 shares, compared to its average volume of 565,744. The stock has a market capitalization of $399.50 million, a price-to-earnings ratio of -10.96 and a beta of 1.14. Castlight Health has a 1-year low of $2.65 and a 1-year high of $5.95. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02.

In other news, Director Seth B. Cohen sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 11th. The stock was sold at an average price of $4.50, for a total value of $45,000.00. Following the completion of the sale, the director now directly owns 322,226 shares in the company, valued at $1,450,017. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Seth B. Cohen sold 17,800 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $5.41, for a total value of $96,298.00. Following the completion of the sale, the director now owns 297,716 shares of the company’s stock, valued at $1,610,643.56. The disclosure for this sale can be found here. Insiders have sold 69,923 shares of company stock valued at $345,846 in the last three months. Insiders own 22.58% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Northern Trust Corp grew its position in shares of Castlight Health by 22.9% in the second quarter. Northern Trust Corp now owns 903,558 shares of the software maker’s stock valued at $3,840,000 after purchasing an additional 168,609 shares in the last quarter. GMT Capital Corp purchased a new position in Castlight Health in the second quarter worth approximately $2,990,000. Millennium Management LLC purchased a new position in Castlight Health in the second quarter worth approximately $891,000. MetLife Investment Advisors LLC purchased a new position in Castlight Health in the second quarter worth approximately $170,000. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Castlight Health in the second quarter worth approximately $120,000. Institutional investors and hedge funds own 49.85% of the company’s stock.

Castlight Health Company Profile

Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.

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