Brokerages Anticipate Evolent Health (EVH) Will Post Quarterly Sales of $140.96 Million

Wall Street brokerages expect Evolent Health (NYSE:EVH) to post sales of $140.96 million for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Evolent Health’s earnings. The lowest sales estimate is $140.21 million and the highest is $141.68 million. Evolent Health posted sales of $106.77 million in the same quarter last year, which would indicate a positive year over year growth rate of 32%. The firm is expected to announce its next quarterly earnings results on Tuesday, May 8th.

On average, analysts expect that Evolent Health will report full year sales of $578.44 million for the current financial year, with estimates ranging from $575.20 million to $584.11 million. For the next fiscal year, analysts forecast that the company will post sales of $670.85 million per share, with estimates ranging from $653.97 million to $716.22 million. Zacks’ sales averages are an average based on a survey of analysts that follow Evolent Health.

How to Become a New Pot Stock Millionaire

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $113.97 million for the quarter, compared to the consensus estimate of $111.09 million. Evolent Health had a negative net margin of 14.05% and a negative return on equity of 3.51%.

Several research analysts have commented on EVH shares. Canaccord Genuity decreased their price target on shares of Evolent Health from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Jefferies Group set a $22.00 price target on shares of Evolent Health and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Citigroup started coverage on shares of Evolent Health in a research note on Thursday, January 4th. They set a “buy” rating on the stock. Wells Fargo decreased their price target on shares of Evolent Health from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Finally, Zacks Investment Research downgraded shares of Evolent Health from a “hold” rating to a “sell” rating in a research note on Thursday, March 8th. Three research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $25.33.

Shares of EVH stock remained flat at $$15.70 during trading hours on Wednesday. 314,055 shares of the company’s stock traded hands, compared to its average volume of 584,446. The stock has a market capitalization of $1,215.76, a P/E ratio of -22.43 and a beta of 1.07. Evolent Health has a 52-week low of $10.30 and a 52-week high of $27.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.85 and a quick ratio of 2.85.

In related news, Director Unitedhealth Group Inc sold 3,040,000 shares of Evolent Health stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $13.70, for a total value of $41,648,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.79% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of EVH. Nationwide Fund Advisors increased its stake in shares of Evolent Health by 14.1% in the third quarter. Nationwide Fund Advisors now owns 105,375 shares of the technology company’s stock worth $1,876,000 after buying an additional 13,057 shares during the period. Rhumbline Advisers increased its position in Evolent Health by 18.1% during the 3rd quarter. Rhumbline Advisers now owns 54,474 shares of the technology company’s stock valued at $970,000 after purchasing an additional 8,351 shares during the period. Bank of New York Mellon Corp increased its position in Evolent Health by 155.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 565,410 shares of the technology company’s stock valued at $10,065,000 after purchasing an additional 344,113 shares during the period. SG Americas Securities LLC purchased a new position in Evolent Health during the 3rd quarter valued at $156,000. Finally, American International Group Inc. increased its position in Evolent Health by 45.9% during the 3rd quarter. American International Group Inc. now owns 34,931 shares of the technology company’s stock valued at $622,000 after purchasing an additional 10,995 shares during the period.

COPYRIGHT VIOLATION NOTICE: “Brokerages Anticipate Evolent Health (EVH) Will Post Quarterly Sales of $140.96 Million” was published by Week Herald and is owned by of Week Herald. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://weekherald.com/2018/04/14/brokerages-anticipate-evolent-health-evh-will-post-quarterly-sales-of-140-96-million.html.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

Get a free copy of the Zacks research report on Evolent Health (EVH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Evolent Health (NYSE:EVH)

Receive News & Ratings for Evolent Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evolent Health and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply