Cross Country Healthcare, Inc. (NASDAQ:CCRN) Expected to Post Quarterly Sales of $306.10 Million

Brokerages expect Cross Country Healthcare, Inc. (NASDAQ:CCRN) to announce $306.10 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Cross Country Healthcare’s earnings, with the highest sales estimate coming in at $307.78 million and the lowest estimate coming in at $304.14 million. Cross Country Healthcare posted sales of $216.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 41.2%. The firm is expected to announce its next earnings report after the market closes on Wednesday, August 4th.

According to Zacks, analysts expect that Cross Country Healthcare will report full year sales of $1.13 billion for the current financial year, with estimates ranging from $1.09 billion to $1.17 billion. For the next year, analysts expect that the company will post sales of $946.86 million, with estimates ranging from $932.12 million to $961.80 million. Zacks Investment Research’s sales 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 earnings results on Wednesday, May 5th. The business services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.24. Cross Country Healthcare had a net margin of 0.90% and a return on equity of 24.66%. The company had revenue of $329.24 million during the quarter, compared to analyst estimates of $287.85 million.

A number of analysts have weighed in on the company. Credit Suisse Group increased their target price on Cross Country Healthcare from $11.00 to $13.50 and gave the stock a “neutral” rating in a research note on Thursday, May 6th. TheStreet raised Cross Country Healthcare from a “c” rating to a “b-” rating in a research report on Thursday, May 6th. Zacks Investment Research downgraded Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets lifted their target price on Cross Country Healthcare from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, June 14th. Finally, Benchmark reaffirmed a “hold” rating on shares of Cross Country Healthcare in a report on Wednesday, May 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $13.14.

In other news, SVP Daniele Addis sold 11,862 shares of the stock in a transaction that occurred on Thursday, June 10th. The stock was sold at an average price of $16.77, for a total transaction of $198,925.74. Following the completion of the transaction, the senior vice president now directly owns 31,386 shares of the company’s stock, valued at approximately $526,343.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 5.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCRN. First Quadrant L P CA purchased a new position in Cross Country Healthcare in the 1st quarter valued at approximately $26,000. Amundi Asset Management US Inc. purchased a new position in Cross Country Healthcare during the first quarter worth $52,000. Lazard Asset Management LLC purchased a new position in Cross Country Healthcare during the first quarter worth $56,000. Citigroup Inc. increased its position in Cross Country Healthcare by 294.8% during the fourth quarter. Citigroup Inc. now owns 8,449 shares of the business services provider’s stock worth $75,000 after buying an additional 6,309 shares in the last quarter. Finally, Zacks Investment Management acquired a new stake in shares of Cross Country Healthcare during the fourth quarter worth $120,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

NASDAQ CCRN opened at $16.13 on Thursday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.55. The company has a market cap of $607.60 million, a P/E ratio of 70.13, a P/E/G ratio of 1.10 and a beta of 1.17. Cross Country Healthcare has a one year low of $5.71 and a one year high of $18.90. The firm’s 50 day moving average price is $16.32.

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 operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Search. 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, as well as workforce solutions, including MSP, OWS, RPO, IRP, EMR, and consulting services.

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Earnings History and Estimates for Cross Country Healthcare (NASDAQ:CCRN)

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