Brookdale Senior Living Inc. (BKD) Shares Gap Down Following Weak Earnings
Brookdale Senior Living Inc. (NYSE:BKD) gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $11.42, but opened at $12.00. Brookdale Senior Living shares last traded at $12.95, with a volume of 4,116,073 shares trading hands.
The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.56 by $0.79. Brookdale Senior Living had a positive return on equity of 13.22% and a negative net margin of 9.77%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the business posted ($0.19) EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis.
Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Brookdale Senior Living from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, July 3rd. Jefferies Group LLC reaffirmed a “buy” rating and set a $16.50 price target on shares of Brookdale Senior Living in a research report on Friday, July 14th. BidaskClub cut shares of Brookdale Senior Living from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine cut shares of Brookdale Senior Living from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Stifel Nicolaus cut their target price on shares of Brookdale Senior Living from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.29.
A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Brookdale Senior Living by 12.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,943 shares of the company’s stock worth $102,000 after buying an additional 761 shares in the last quarter. Opera Trading Capital acquired a new position in shares of Brookdale Senior Living during the second quarter worth about $110,000. Terra Nova Asset Management LLC acquired a new position in shares of Brookdale Senior Living during the first quarter worth about $134,000. Highbridge Capital Management LLC acquired a new position in shares of Brookdale Senior Living during the fourth quarter worth about $148,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Brookdale Senior Living during the first quarter worth about $159,000.
The firm’s market cap is $2.43 billion. The stock has a 50-day moving average price of $14.55 and a 200 day moving average price of $14.02.
COPYRIGHT VIOLATION WARNING: This news story was first reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/08/08/brookdale-senior-living-inc-bkd-shares-gap-down-following-weak-earnings.html.
About Brookdale Senior Living
Brookdale Senior Living Inc operates senior living communities in the United States. The Company operates independent living, assisted living and dementia-care communities, and continuing care retirement centers (CCRCs). It operates through five segments: Retirement Centers; Assisted Living; CCRCs-Rental; Brookdale Ancillary Services and Management Services.
Receive News & Ratings for Brookdale Senior Living Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookdale Senior Living Inc. and related companies with MarketBeat.com's FREE daily email newsletter.