Cross Country Healthcare, Inc. (CCRN) Expected to Post Earnings of $0.02 Per Share

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Analysts forecast that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will announce earnings per share of $0.02 for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cross Country Healthcare’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.02. Cross Country Healthcare posted earnings of $0.17 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 88.2%. The firm is expected to report its next quarterly earnings report on Wednesday, February 27th.

On average, analysts expect that Cross Country Healthcare will report full year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from $0.15 to $0.16. For the next fiscal year, analysts anticipate that the company will post earnings of $0.30 per share, with EPS estimates ranging from $0.26 to $0.32. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Cross Country Healthcare.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings results on Thursday, November 1st. The business services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Cross Country Healthcare had a return on equity of 4.43% and a net margin of 3.67%. The company had revenue of $200.72 million for the quarter, compared to analysts’ expectations of $200.66 million. During the same quarter last year, the company earned $0.23 EPS. Cross Country Healthcare’s revenue for the quarter was down 12.2% compared to the same quarter last year.

Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Cross Country Healthcare from a “sell” rating to a “hold” rating in a research note on Monday. Barrington Research set a $11.00 price objective on Cross Country Healthcare and gave the stock a “buy” rating in a report on Thursday, November 15th. ValuEngine raised Cross Country Healthcare from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. BMO Capital Markets upped their price objective on Cross Country Healthcare from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Monday, November 5th. Finally, Lake Street Capital raised Cross Country Healthcare from a “hold” rating to a “buy” rating and upped their price objective for the stock from $10.00 to $12.00 in a report on Friday, November 2nd. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.29.

Cross Country Healthcare stock opened at $7.44 on Wednesday. Cross Country Healthcare has a 12 month low of $7.32 and a 12 month high of $14.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market cap of $276.23 million, a PE ratio of 12.20, a P/E/G ratio of 4.24 and a beta of 0.63.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Panagora Asset Management Inc. boosted its stake in shares of Cross Country Healthcare by 150.6% during the third quarter. Panagora Asset Management Inc. now owns 13,881 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 8,342 shares during the last quarter. Alambic Investment Management L.P. acquired a new stake in shares of Cross Country Healthcare during the second quarter valued at $122,000. Jane Street Group LLC acquired a new stake in shares of Cross Country Healthcare during the second quarter valued at $138,000. SG Americas Securities LLC acquired a new stake in shares of Cross Country Healthcare during the second quarter valued at $177,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Cross Country Healthcare during the second quarter valued at $219,000. 91.25% of the stock is currently owned by institutional investors and hedge funds.

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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