Cross Country Healthcare, Inc. Expected to Post FY2024 Earnings of $0.75 Per Share (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Investment analysts at William Blair reduced their FY2024 earnings per share estimates for Cross Country Healthcare in a report released on Thursday, May 2nd. William Blair analyst T. Romeo now expects that the business services provider will earn $0.75 per share for the year, down from their previous estimate of $0.95. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share. William Blair also issued estimates for Cross Country Healthcare’s FY2025 earnings at $0.98 EPS.

A number of other analysts also recently weighed in on CCRN. TheStreet downgraded Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Benchmark lowered their target price on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a report on Thursday. Barrington Research cut their price target on Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Truist Financial reduced their price objective 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cross Country Healthcare presently has an average rating of “Hold” and an average target price of $21.33.

Cross Country Healthcare Stock Down 0.4 %

Shares of NASDAQ CCRN opened at $16.67 on Monday. The company has a market capitalization of $578.12 million, a PE ratio of 12.82, a P/E/G ratio of 1.85 and a beta of 0.77. Cross Country Healthcare has a twelve month low of $15.65 and a twelve month high of $28.75. The firm has a fifty day simple moving average of $17.92 and a 200 day simple moving average of $19.99.

Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $379.17 million during the quarter, compared to the consensus estimate of $374.38 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The company’s revenue for the quarter was down 39.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS.

Hedge Funds Weigh In On Cross Country Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of Cross Country Healthcare in the fourth quarter worth approximately $28,000. Gladius Capital Management LP raised its position in Cross Country Healthcare by 37.1% in the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after buying an additional 515 shares during the last quarter. Denali Advisors LLC lifted its stake in Cross Country Healthcare by 3,885.5% during the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 5,362 shares in the last quarter. Aigen Investment Management LP purchased a new position in Cross Country Healthcare during the 3rd quarter worth $219,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Cross Country Healthcare by 212.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after acquiring an additional 8,225 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Insider Transactions at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of Cross Country Healthcare stock in a transaction on Friday, March 15th. The shares were sold at an average price of $16.95, for a total value of $105,361.20. Following the completion of the sale, the insider now owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.90% of the stock is owned by insiders.

About Cross Country Healthcare

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.