MAXIMUS (MMS) Releases Earnings Results, Misses Expectations By $0.01 EPS
MAXIMUS (NYSE:MMS) posted its quarterly earnings data on Tuesday. The health services provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.01), MarketWatch Earnings reports. The firm had revenue of $558.50 million during the quarter, compared to the consensus estimate of $587.58 million. MAXIMUS had a return on equity of 21.51% and a net margin of 9.28%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. MAXIMUS updated its FY 2019 guidance to $3.55-3.75 EPS.
Shares of NYSE MMS opened at $61.19 on Tuesday. MAXIMUS has a one year low of $60.27 and a one year high of $72.71. The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.42 and a beta of 0.97.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. This is an increase from MAXIMUS’s previous quarterly dividend of $0.05. MAXIMUS’s payout ratio is 33.00%.
In other MAXIMUS news, Vice Chairman Richard A. Montoni sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $65.81, for a total value of $987,150.00. Following the transaction, the insider now owns 493,476 shares in the company, valued at $32,475,655.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Francis sold 6,220 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $63.86, for a total value of $397,209.20. The disclosure for this sale can be found here. Insiders sold 66,222 shares of company stock worth $4,307,909 in the last 90 days. Corporate insiders own 2.48% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bruderman Asset Management LLC bought a new stake in shares of MAXIMUS during the 2nd quarter worth about $119,000. Fort L.P. bought a new stake in shares of MAXIMUS during the 2nd quarter worth about $120,000. Violich Capital Management Inc. bought a new stake in shares of MAXIMUS during the 2nd quarter worth about $204,000. Advisors Asset Management Inc. boosted its stake in shares of MAXIMUS by 132.3% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,807 shares of the health services provider’s stock worth $461,000 after acquiring an additional 2,168 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of MAXIMUS during the 3rd quarter worth about $254,000. Hedge funds and other institutional investors own 93.53% of the company’s stock.
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MAXIMUS Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services programs in the United States, the United Kingdom, Australia, Canada, Singapore, and Saudi Arabia. The company's Health Services segment offers various BPS, appeals, and assessments, as well as related consulting services for state, provincial, and national government programs comprising Medicaid, Children's Health Insurance Program, the Affordable Care Act, Health Insurance British Columbia, the Health Assessment Advisory Service, and Preadmission Screening and Resident Reviews.
Further Reading: Understanding Price to Earnings Ratio (PE)
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