Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Research analysts at Oppenheimer raised their FY2019 earnings estimates for shares of Cross Country Healthcare in a research note issued to investors on Tuesday, November 5th. Oppenheimer analyst M. Wiederhorn now forecasts that the business services provider will earn $0.14 per share for the year, up from their previous estimate of $0.08. Oppenheimer also issued estimates for Cross Country Healthcare’s Q4 2019 earnings at $0.07 EPS, Q2 2020 earnings at $0.07 EPS and Q4 2020 earnings at $0.07 EPS.
Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Tuesday, November 5th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $209.20 million during the quarter, compared to analyst estimates of $202.60 million. Cross Country Healthcare had a negative net margin of 9.44% and a positive return on equity of 1.24%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 earnings per share.
CCRN has been the subject of several other reports. BMO Capital Markets boosted their target price on shares of Cross Country Healthcare from $10.00 to $12.00 and gave the company a “market perform” rating in a research report on Wednesday. ValuEngine lowered shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Cross Country Healthcare from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Tuesday, October 1st. Finally, BidaskClub upgraded shares of Cross Country Healthcare from a “hold” rating to a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cross Country Healthcare has an average rating of “Buy” and an average price target of $11.33.
NASDAQ CCRN traded up $0.24 during trading hours on Friday, hitting $12.67. 16,915 shares of the company’s stock traded hands, compared to its average volume of 152,071. The business’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $9.22. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $418.70 million, a P/E ratio of 106.00, a P/E/G ratio of 14.17 and a beta of 1.28. Cross Country Healthcare has a 52 week low of $6.75 and a 52 week high of $12.99.
A number of large investors have recently modified their holdings of CCRN. Susquehanna International Group LLP purchased a new position in Cross Country Healthcare during the second quarter valued at approximately $119,000. Magnus Financial Group LLC lifted its holdings in Cross Country Healthcare by 20.2% during the second quarter. Magnus Financial Group LLC now owns 13,580 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 2,278 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Cross Country Healthcare during the second quarter valued at approximately $276,000. Pitcairn Co. lifted its holdings in Cross Country Healthcare by 7.5% during the second quarter. Pitcairn Co. now owns 31,033 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 2,165 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in Cross Country Healthcare by 126.4% during the third quarter. State of Alaska Department of Revenue now owns 28,339 shares of the business services provider’s stock valued at $291,000 after purchasing an additional 15,824 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.
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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