Oppenheimer Comments on Cross Country Healthcare, Inc.’s FY2019 Earnings (NASDAQ:CCRN)
Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Oppenheimer increased their FY2019 earnings per share (EPS) estimates for shares of Cross Country Healthcare in a report issued on Tuesday, November 5th. Oppenheimer analyst M. Wiederhorn now expects that the business services provider will post earnings of $0.14 per share for the year, up from their previous estimate of $0.08. Oppenheimer also issued estimates for Cross Country Healthcare’s Q4 2019 earnings at $0.07 EPS, Q2 2020 earnings at $0.07 EPS and Q4 2020 earnings at $0.07 EPS.
A number of other equities research analysts have also recently commented on the company. BMO Capital Markets lifted their target price on Cross Country Healthcare from $10.00 to $12.00 and gave the stock a “market perform” rating in a research note on Wednesday. Zacks Investment Research upgraded Cross Country Healthcare from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, October 1st. BidaskClub raised Cross Country Healthcare from a “hold” rating to a “buy” rating in a report on Friday. Finally, ValuEngine lowered Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $11.33.
Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Tuesday, November 5th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Cross Country Healthcare had a positive return on equity of 1.24% and a negative net margin of 9.44%. The company had revenue of $209.20 million for the quarter, compared to analysts’ expectations of $202.60 million. During the same period last year, the business earned $0.02 EPS. Cross Country Healthcare’s quarterly revenue was up 4.2% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackay Shields LLC increased its holdings in Cross Country Healthcare by 577.7% in the 3rd quarter. Mackay Shields LLC now owns 82,000 shares of the business services provider’s stock worth $845,000 after acquiring an additional 69,900 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in Cross Country Healthcare in the 3rd quarter worth about $1,303,000. Russell Investments Group Ltd. increased its holdings in Cross Country Healthcare by 19.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 315,696 shares of the business services provider’s stock worth $3,252,000 after acquiring an additional 52,144 shares during the last quarter. California Public Employees Retirement System grew its holdings in Cross Country Healthcare by 23.1% during the 3rd quarter. California Public Employees Retirement System now owns 53,105 shares of the business services provider’s stock valued at $547,000 after buying an additional 9,979 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its holdings in Cross Country Healthcare by 97.7% during the 3rd quarter. State of Tennessee Treasury Department now owns 29,378 shares of the business services provider’s stock valued at $303,000 after buying an additional 14,520 shares in the last quarter. 93.15% of the stock is owned by institutional investors.
In other news, Director W Larry Cash acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was bought at an average price of $12.39 per share, with a total value of $61,950.00. Following the acquisition, the director now owns 139,306 shares in the company, valued at approximately $1,726,001.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.80% of the company’s stock.
About Cross Country Healthcare
Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.
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