Castlight Health Inc (CSLT) Expected to Post Earnings of -$0.05 Per Share

Share on StockTwits

Analysts forecast that Castlight Health Inc (NYSE:CSLT) will announce earnings per share of ($0.05) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Castlight Health’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.04). Castlight Health posted earnings per share of ($0.07) in the same quarter last year, which would indicate a positive year over year growth rate of 28.6%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Castlight Health will report full-year earnings of ($0.14) per share for the current financial year, with EPS estimates ranging from ($0.15) to ($0.11). For the next financial year, analysts expect that the company will report earnings of ($0.01) per share, with EPS estimates ranging from ($0.03) to $0.04. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Castlight Health.

Castlight Health (NYSE:CSLT) last issued its earnings results on Thursday, May 10th. The software maker reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The company had revenue of $36.48 million during the quarter, compared to analysts’ expectations of $36.02 million. Castlight Health had a negative return on equity of 25.09% and a negative net margin of 39.39%.

Several analysts have issued reports on the company. Chardan Capital upped their target price on Castlight Health from $5.75 to $6.00 and gave the company a “buy” rating in a report on Friday, May 11th. Zacks Investment Research cut Castlight Health from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Cantor Fitzgerald restated a “buy” rating and issued a $5.00 target price on shares of Castlight Health in a report on Thursday, May 10th. ValuEngine upgraded Castlight Health from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, William Blair assumed coverage on Castlight Health in a report on Wednesday, June 20th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Castlight Health currently has an average rating of “Hold” and a consensus target price of $5.25.

In other news, CEO John C. Doyle sold 21,160 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $3.79, for a total transaction of $80,196.40. Following the completion of the transaction, the chief executive officer now directly owns 165,672 shares in the company, valued at approximately $627,896.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mangini Siobhan Nolan sold 14,430 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $3.80, for a total value of $54,834.00. Following the transaction, the chief financial officer now owns 121,413 shares of the company’s stock, valued at $461,369.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,140 shares of company stock valued at $158,820. Company insiders own 22.58% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Castlight Health by 1.3% during the 4th quarter. BlackRock Inc. now owns 3,575,033 shares of the software maker’s stock worth $13,406,000 after purchasing an additional 44,923 shares during the period. Cowen Prime Services LLC lifted its stake in Castlight Health by 18.7% during the 1st quarter. Cowen Prime Services LLC now owns 1,606,206 shares of the software maker’s stock worth $5,863,000 after acquiring an additional 253,100 shares in the last quarter. Northern Trust Corp lifted its stake in Castlight Health by 3.2% during the 1st quarter. Northern Trust Corp now owns 734,949 shares of the software maker’s stock worth $2,683,000 after acquiring an additional 23,028 shares in the last quarter. Geode Capital Management LLC lifted its stake in Castlight Health by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 530,130 shares of the software maker’s stock worth $1,987,000 after acquiring an additional 22,817 shares in the last quarter. Finally, Folger Hill Asset Management LP acquired a new position in Castlight Health during the 4th quarter worth about $1,144,000. Institutional investors and hedge funds own 43.64% of the company’s stock.

NYSE:CSLT traded up $0.40 during trading hours on Tuesday, hitting $4.30. The company had a trading volume of 4,400,800 shares, compared to its average volume of 416,941. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.02. The stock has a market cap of $578.26 million, a P/E ratio of -16.54 and a beta of 1.37. Castlight Health has a 1 year low of $3.15 and a 1 year high of $4.75.

About Castlight Health

Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.

Get a free copy of the Zacks research report on Castlight Health (CSLT)

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

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

Leave a Reply