$607.20 Million in Sales Expected for Maximus, Inc. (MMS) This Quarter
Wall Street analysts expect Maximus, Inc. (NYSE:MMS) to announce $607.20 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Maximus’ earnings, with estimates ranging from $601.09 million to $615.25 million. Maximus reported sales of $623.09 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The firm is expected to report its next quarterly earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Maximus will report full year sales of $607.20 million for the current financial year, with estimates ranging from $2.43 billion to $2.45 billion. For the next financial year, analysts anticipate that the firm will post sales of $2.52 billion per share, with estimates ranging from $2.45 billion to $2.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Maximus.
Maximus (NYSE:MMS) last issued its earnings results on Thursday, August 3rd. The health services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The business had revenue of $600.40 million during the quarter, compared to analyst estimates of $614.12 million. Maximus had a return on equity of 25.08% and a net margin of 8.43%. Maximus’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share.
Several research firms recently issued reports on MMS. BidaskClub lowered shares of Maximus from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Canaccord Genuity lowered shares of Maximus from a “buy” rating to a “hold” rating and set a $62.00 price objective for the company. in a research note on Tuesday, July 4th. Zacks Investment Research lowered shares of Maximus from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Maxim Group set a $66.00 price objective on shares of Maximus and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC lowered shares of Maximus from a “buy” rating to a “hold” rating and lifted their price objective for the company from $63.00 to $64.00 in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Maximus currently has a consensus rating of “Hold” and a consensus target price of $62.17.
Shares of Maximus (NYSE MMS) opened at 59.81 on Tuesday. The firm has a 50-day moving average price of $60.48 and a 200 day moving average price of $61.15. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 19.17 and a beta of 1.39. Maximus has a 52 week low of $43.69 and a 52 week high of $64.97.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.045 per share. The ex-dividend date is Friday, August 11th. This represents a $0.18 annualized dividend and a dividend yield of 0.30%. Maximus’s payout ratio is 5.73%.
In other news, President Bruce Caswell sold 8,000 shares of Maximus stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $63.48, for a total transaction of $507,840.00. Following the sale, the president now directly owns 35,904 shares in the company, valued at approximately $2,279,185.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David Francis sold 1,000 shares of Maximus stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $62.70, for a total transaction of $62,700.00. Following the sale, the general counsel now owns 17,715 shares in the company, valued at $1,110,730.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,342 shares of company stock worth $7,247,617. Insiders own 3.10% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Maximus by 22,491.0% in the first quarter. BlackRock Inc. now owns 6,503,511 shares of the health services provider’s stock valued at $404,518,000 after buying an additional 6,474,723 shares during the period. Vanguard Group Inc. raised its position in Maximus by 2.4% in the second quarter. Vanguard Group Inc. now owns 5,669,026 shares of the health services provider’s stock worth $355,052,000 after buying an additional 130,839 shares during the period. FMR LLC raised its position in Maximus by 10.4% in the second quarter. FMR LLC now owns 4,658,584 shares of the health services provider’s stock worth $291,767,000 after buying an additional 438,025 shares during the period. William Blair Investment Management LLC raised its position in Maximus by 14.7% in the first quarter. William Blair Investment Management LLC now owns 4,416,279 shares of the health services provider’s stock worth $274,693,000 after buying an additional 566,292 shares during the period. Finally, Victory Capital Management Inc. raised its position in Maximus by 8.6% in the second quarter. Victory Capital Management Inc. now owns 3,100,903 shares of the health services provider’s stock worth $194,210,000 after buying an additional 244,823 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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