Cross Country Healthcare, Inc. (NASDAQ:CCRN) Forecasted to Post Q2 2024 Earnings of $0.14 Per Share

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Equities researchers at William Blair reduced their Q2 2024 earnings per share estimates for shares of Cross Country Healthcare in a research note issued on Thursday, May 2nd. William Blair analyst T. Romeo now forecasts that the business services provider will post earnings of $0.14 per share for the quarter, down from their previous forecast of $0.23. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.92 per share. William Blair also issued estimates for Cross Country Healthcare’s Q3 2024 earnings at $0.19 EPS, Q4 2024 earnings at $0.22 EPS, Q1 2025 earnings at $0.18 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.26 EPS and Q4 2025 earnings at $0.29 EPS.

Other research analysts also recently issued research reports about the company. Truist Financial reduced their price objective on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. TheStreet lowered Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Barrington Research lowered their price target on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, Benchmark dropped their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.33.

Cross Country Healthcare Trading Down 6.5 %

CCRN opened at $16.74 on Friday. The stock has a market cap of $580.54 million, a PE ratio of 12.88, a P/E/G ratio of 1.95 and a beta of 0.77. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75. The stock’s 50 day simple moving average is $17.93 and its 200-day simple moving average is $20.08.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $379.17 million during the quarter, compared to analyst estimates of $374.38 million. Cross Country Healthcare had a return on equity of 11.67% and a net margin of 2.58%. Cross Country Healthcare’s quarterly revenue was down 39.1% compared to the same quarter last year. During the same period last year, the company earned $0.84 earnings per share.

Insider Buying and Selling at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the sale, the insider now owns 35,101 shares of the company’s stock, valued at $594,961.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Cross Country Healthcare

A number of hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Cross Country Healthcare by 212.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock valued at $226,000 after purchasing an additional 8,225 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Cross Country Healthcare during the first quarter worth $2,078,000. Paradiem LLC lifted its holdings in Cross Country Healthcare by 112.8% during the first quarter. Paradiem LLC now owns 136,294 shares of the business services provider’s stock valued at $2,551,000 after purchasing an additional 72,244 shares in the last quarter. Denali Advisors LLC raised its stake in Cross Country Healthcare by 3,885.5% in the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 5,362 shares during the last quarter. Finally, Wasatch Advisors LP lifted its stake in Cross Country Healthcare by 74.3% in the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after purchasing an additional 934,841 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.