Zacks: Brokerages Anticipate Cross Country Healthcare, Inc. (CCRN) Will Post Quarterly Sales of $226.29 Million

Brokerages predict that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will post sales of $226.29 million for the current quarter, according to Zacks. Two analysts have made estimates for Cross Country Healthcare’s earnings, with estimates ranging from $226.02 million to $226.56 million. Cross Country Healthcare posted sales of $222.52 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The company is expected to report its next earnings report on Wednesday, March 7th.

On average, analysts expect that Cross Country Healthcare will report full year sales of $226.29 million for the current financial year, with estimates ranging from $871.39 million to $871.94 million. For the next financial year, analysts expect that the business will report sales of $940.37 million per share, with estimates ranging from $940.11 million to $940.64 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Cross Country Healthcare.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, November 1st. The business services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The firm had revenue of $228.50 million for the quarter, compared to analyst estimates of $228.97 million. Cross Country Healthcare had a net margin of 0.19% and a return on equity of 11.69%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS.

A number of brokerages have recently weighed in on CCRN. TheStreet raised shares of Cross Country Healthcare from a “c+” rating to a “b” rating in a research note on Wednesday, September 27th. Zacks Investment Research lowered shares of Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. BidaskClub raised shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a research note on Saturday, December 30th. BMO Capital Markets cut their target price on shares of Cross Country Healthcare from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $18.00 target price on shares of Cross Country Healthcare in a research note on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cross Country Healthcare currently has a consensus rating of “Buy” and an average target price of $15.31.

Shares of Cross Country Healthcare (NASDAQ CCRN) traded down $0.13 on Wednesday, hitting $12.60. 202,489 shares of the stock were exchanged, compared to its average volume of 237,757. The company has a market cap of $459.83, a price-to-earnings ratio of 630.00, a price-to-earnings-growth ratio of 1.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.14 and a quick ratio of 2.14. Cross Country Healthcare has a 52-week low of $11.07 and a 52-week high of $16.38.

In related news, General Counsel Susan E. Ball sold 25,000 shares of Cross Country Healthcare stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $14.19, for a total transaction of $354,750.00. Following the completion of the transaction, the general counsel now directly owns 126,921 shares of the company’s stock, valued at approximately $1,801,008.99. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas C. Dircks purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average cost of $11.77 per share, with a total value of $117,700.00. Following the completion of the transaction, the director now owns 104,571 shares in the company, valued at $1,230,800.67. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its position in Cross Country Healthcare by 8.7% during the 2nd quarter. Alliancebernstein L.P. now owns 40,095 shares of the business services provider’s stock valued at $518,000 after acquiring an additional 3,200 shares during the period. Benefit Street Partners LLC raised its holdings in Cross Country Healthcare by 30.9% in the second quarter. Benefit Street Partners LLC now owns 1,544,440 shares of the business services provider’s stock worth $19,939,000 after buying an additional 364,229 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Cross Country Healthcare by 20.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,215 shares of the business services provider’s stock worth $972,000 after buying an additional 12,900 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Cross Country Healthcare by 85.0% in the third quarter. BNP Paribas Arbitrage SA now owns 18,500 shares of the business services provider’s stock worth $263,000 after buying an additional 8,502 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in Cross Country Healthcare by 41.2% in the second quarter. Citigroup Inc. now owns 41,962 shares of the business services provider’s stock worth $541,000 after buying an additional 12,253 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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About Cross Country Healthcare

Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.

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