Cross Country Healthcare (NASDAQ:CCRN) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Cross Country Healthcare (NASDAQ:CCRN) released its quarterly earnings data on Wednesday. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02, Briefing.com reports. Cross Country Healthcare had a net margin of 3.60% and a return on equity of 16.93%. The firm had revenue of $379.17 million during the quarter, compared to analysts’ expectations of $374.38 million. During the same period last year, the business earned $0.84 earnings per share. Cross Country Healthcare’s revenue was down 39.1% compared to the same quarter last year. Cross Country Healthcare updated its Q2 guidance to $0.10-0.20 EPS and its Q2 2024 guidance to 0.100-0.200 EPS.

Cross Country Healthcare Price Performance

Shares of NASDAQ CCRN traded down $0.90 during trading on Thursday, hitting $17.00. 692,739 shares of the company were exchanged, compared to its average volume of 446,172. The company has a market cap of $589.56 million, a price-to-earnings ratio of 8.64, a PEG ratio of 1.91 and a beta of 0.77. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75. The firm’s fifty day moving average price is $17.94 and its 200 day moving average price is $20.10.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CCRN. Barrington Research cut their price objective on shares of Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Truist Financial dropped their price target on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. TheStreet cut shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Finally, Benchmark dropped their price target on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.33.

Insiders Place Their Bets

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the sale, the insider now directly owns 35,101 shares in the company, valued at approximately $594,961.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.90% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.