Change Healthcare Inc. Forecasted to Earn FY2020 Earnings of $1.41 Per Share (NASDAQ:CHNG)

Change Healthcare Inc. (NASDAQ:CHNG) – Investment analysts at Cantor Fitzgerald lowered their FY2020 earnings estimates for shares of Change Healthcare in a research note issued on Wednesday, November 27th. Cantor Fitzgerald analyst S. Halper now anticipates that the company will post earnings of $1.41 per share for the year, down from their prior estimate of $1.44.

A number of other equities analysts have also recently issued reports on CHNG. Royal Bank of Canada started coverage on shares of Change Healthcare in a research note on Wednesday, November 27th. They issued an “outperform” rating and a $16.00 price objective for the company. ValuEngine upgraded shares of Change Healthcare from a “hold” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research raised shares of Change Healthcare from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank started coverage on shares of Change Healthcare in a research note on Thursday, September 26th. They set a “buy” rating and a $15.00 price target for the company. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.59.

CHNG opened at $13.30 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day simple moving average is $13.08. Change Healthcare has a fifty-two week low of $11.24 and a fifty-two week high of $15.50.

Change Healthcare (NASDAQ:CHNG) last released its quarterly earnings data on Thursday, November 14th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $795.81 million for the quarter, compared to the consensus estimate of $776.18 million. The business’s revenue was down .5% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in CHNG. Blackstone Group Inc acquired a new position in shares of Change Healthcare in the 2nd quarter worth approximately $870,456,000. Boston Partners bought a new position in Change Healthcare in the 2nd quarter valued at $103,131,000. Point72 Asset Management L.P. bought a new position in Change Healthcare in the 2nd quarter valued at $35,144,000. JPMorgan Chase & Co. acquired a new position in Change Healthcare in the second quarter worth $35,483,000. Finally, Citadel Advisors LLC acquired a new position in Change Healthcare in the second quarter worth $29,897,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Change Healthcare Company Profile

Change Healthcare Inc, an independent healthcare technology platform, provides data and analytics-driven solutions to improve clinical, financial, and patient engagement outcomes in the United States healthcare system. It operates in three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.

Featured Story: What is the Coverage Ratio?

Earnings History and Estimates for Change Healthcare (NASDAQ:CHNG)

Receive News & Ratings for Change Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Change Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.