Cross Country Healthcare, Inc. (CCRN) Expected to Post Quarterly Sales of $200.51 Million
Wall Street brokerages expect Cross Country Healthcare, Inc. (NASDAQ:CCRN) to post sales of $200.51 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cross Country Healthcare’s earnings, with the lowest sales estimate coming in at $198.40 million and the highest estimate coming in at $201.74 million. Cross Country Healthcare reported sales of $228.49 million during the same quarter last year, which indicates a negative year-over-year growth rate of 12.2%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Cross Country Healthcare will report full-year sales of $825.12 million for the current financial year, with estimates ranging from $819.50 million to $829.15 million. For the next fiscal year, analysts forecast that the company will post sales of $850.70 million per share, with estimates ranging from $838.00 million to $862.01 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Cross Country Healthcare.
Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings results on Wednesday, August 1st. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Cross Country Healthcare had a return on equity of 7.90% and a net margin of 4.39%. The business had revenue of $204.57 million for the quarter, compared to the consensus estimate of $209.29 million. During the same quarter in the previous year, the business posted $0.16 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis.
Cross Country Healthcare stock traded up $0.08 during midday trading on Friday, reaching $9.30. 201,800 shares of the company’s stock were exchanged, compared to its average volume of 251,466. Cross Country Healthcare has a 52 week low of $7.41 and a 52 week high of $14.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.33 and a current ratio of 2.33. The stock has a market capitalization of $335.00 million, a P/E ratio of 15.28, a PEG ratio of 3.13 and a beta of 0.79.
In other news, General Counsel Susan E. Ball acquired 5,091 shares of Cross Country Healthcare stock in a transaction dated Thursday, August 9th. The stock was bought at an average price of $9.65 per share, for a total transaction of $49,128.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Grubbs acquired 10,000 shares of Cross Country Healthcare stock in a transaction dated Wednesday, August 8th. The shares were purchased at an average price of $8.93 per share, with a total value of $89,300.00. Following the acquisition, the insider now owns 422,291 shares of the company’s stock, valued at $3,771,058.63. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 37,341 shares of company stock valued at $344,203. Corporate insiders own 3.40% of the company’s stock.
Large investors have recently modified their holdings of the company. Koch Industries Inc. bought a new stake in shares of Cross Country Healthcare during the first quarter worth approximately $117,000. Alambic Investment Management L.P. bought a new stake in shares of Cross Country Healthcare during the second quarter worth approximately $122,000. Aperio Group LLC bought a new stake in shares of Cross Country Healthcare in the first quarter valued at approximately $133,000. Renaissance Technologies LLC bought a new stake in shares of Cross Country Healthcare in the fourth quarter valued at approximately $156,000. Finally, Barclays PLC boosted its stake in shares of Cross Country Healthcare by 118.6% in the first quarter. Barclays PLC now owns 12,283 shares of the business services provider’s stock valued at $136,000 after buying an additional 6,665 shares during the period. Institutional investors own 89.98% 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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