Wall Street analysts expect Cross Country Healthcare, Inc. (NASDAQ:CCRN) to report $316.91 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cross Country Healthcare’s earnings, with the lowest sales estimate coming in at $314.40 million and the highest estimate coming in at $319.31 million. Cross Country Healthcare posted sales of $193.97 million in the same quarter last year, which would indicate a positive year over year growth rate of 63.4%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 3rd.
According to Zacks, analysts expect that Cross Country Healthcare will report full-year sales of $1.25 billion for the current year, with estimates ranging from $1.24 billion to $1.27 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.04 billion, with estimates ranging from $941.95 million to $1.19 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cross Country Healthcare.
Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, August 4th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.07. The business had revenue of $331.83 million during the quarter, compared to analysts’ expectations of $306.21 million. Cross Country Healthcare had a return on equity of 30.00% and a net margin of 3.20%. The firm’s quarterly revenue was up 53.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share.
In other Cross Country Healthcare news, SVP Colin Patrick Mcdonald sold 6,378 shares of the business’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $20.14, for a total transaction of $128,452.92. Following the completion of the sale, the senior vice president now owns 19,993 shares of the company’s stock, valued at $402,659.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Trunfio sold 33,162 shares of the company’s stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $19.83, for a total value of $657,602.46. Following the completion of the transaction, the director now directly owns 101,923 shares of the company’s stock, valued at approximately $2,021,133.09. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,640 shares of company stock valued at $1,318,986. 5.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Cross Country Healthcare by 4.9% in the first quarter. BlackRock Inc. now owns 5,703,845 shares of the business services provider’s stock worth $71,241,000 after acquiring an additional 267,785 shares during the period. Aristotle Capital Boston LLC boosted its stake in Cross Country Healthcare by 0.6% during the first quarter. Aristotle Capital Boston LLC now owns 2,488,225 shares of the business services provider’s stock valued at $31,078,000 after buying an additional 14,854 shares during the last quarter. Systematic Financial Management LP boosted its stake in Cross Country Healthcare by 17.2% during the second quarter. Systematic Financial Management LP now owns 2,430,742 shares of the business services provider’s stock valued at $40,132,000 after buying an additional 356,832 shares during the last quarter. Royce & Associates LP boosted its stake in Cross Country Healthcare by 6.9% during the first quarter. Royce & Associates LP now owns 1,895,175 shares of the business services provider’s stock valued at $23,671,000 after buying an additional 122,500 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Cross Country Healthcare by 38.1% during the first quarter. Acadian Asset Management LLC now owns 1,293,667 shares of the business services provider’s stock valued at $16,159,000 after buying an additional 356,907 shares during the last quarter. 89.74% of the stock is owned by hedge funds and other institutional investors.
Shares of CCRN stock traded up $0.40 during mid-day trading on Friday, hitting $20.26. The company’s stock had a trading volume of 5,266 shares, compared to its average volume of 279,655. Cross Country Healthcare has a 52-week low of $5.71 and a 52-week high of $21.90. The business has a 50-day moving average price of $18.85 and a 200 day moving average price of $16.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market cap of $769.96 million, a price-to-earnings ratio of 21.36, a PEG ratio of 1.32 and a beta of 1.19.
About Cross Country Healthcare
Cross Country Healthcare, Inc engages in the provision of healthcare staffing and workforce management solutions. It operates through the following segments: Nurse and Allied Staffing, Physician Staffing, and Search. The Nurse and Allied Staffing segment provides workforce solutions and traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing.
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