Wall Street brokerages predict that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will report sales of $200.51 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Cross Country Healthcare’s earnings. The lowest sales estimate is $198.40 million and the highest is $201.74 million. Cross Country Healthcare posted sales of $228.49 million in the same quarter last year, which suggests a negative year-over-year growth rate of 12.2%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that Cross Country Healthcare will report full-year sales of $825.12 million for the current year, with estimates ranging from $819.50 million to $829.15 million. For the next fiscal year, analysts expect that the business will post sales of $850.70 million, with estimates ranging from $838.00 million to $862.01 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Cross Country Healthcare.
Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $204.57 million during 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%. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS.
A number of research analysts recently issued reports on CCRN shares. Zacks Investment Research upgraded shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. Stephens started coverage on shares of Cross Country Healthcare in a research report on Tuesday, October 2nd. They set an “equal weight” rating on the stock. Barrington Research set a $13.00 target price on shares of Cross Country Healthcare and gave the company a “buy” rating in a research report on Wednesday, September 19th. ValuEngine upgraded shares of Cross Country Healthcare from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 4th. Finally, BidaskClub downgraded shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Cross Country Healthcare has a consensus rating of “Hold” and an average price target of $12.86.
In related news, General Counsel Susan E. Ball bought 5,091 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were bought at an average price of $9.65 per share, for a total transaction of $49,128.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William J. Grubbs bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were bought at an average price of $8.93 per share, for a total transaction of $89,300.00. Following the transaction, the insider now directly owns 422,291 shares in the company, valued at $3,771,058.63. The disclosure for this purchase can be found here. Insiders have purchased a total of 37,341 shares of company stock worth $344,203 in the last quarter. 3.40% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCRN. Koch Industries Inc. acquired a new position in Cross Country Healthcare during the first quarter worth $117,000. Alambic Investment Management L.P. acquired a new position in Cross Country Healthcare during the second quarter worth $122,000. Aperio Group LLC acquired a new position in Cross Country Healthcare during the first quarter worth $133,000. Barclays PLC raised its holdings in 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 buying an additional 6,665 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Cross Country Healthcare during the second quarter worth $138,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.
Shares of NASDAQ CCRN traded up $0.33 during midday trading on Thursday, reaching $8.77. The stock had a trading volume of 186,991 shares, compared to its average volume of 252,547. The company has a market capitalization of $316.85 million, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.80. Cross Country Healthcare has a twelve month low of $7.41 and a twelve month high of $14.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.33 and a current ratio of 2.33.
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.
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