ModivCare (MODV) to Release Quarterly Earnings on Wednesday

ModivCare (NASDAQ:MODV) will announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. ModivCare has set its FY 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

ModivCare (NASDAQ:MODV) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The company had revenue of $698.30 million during the quarter, compared to the consensus estimate of $701.00 million. During the same quarter in the prior year, the company posted $1.41 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts expect ModivCare to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ModivCare Price Performance

Shares of MODV opened at $15.48 on Wednesday. The stock has a market cap of $220.44 million, a P/E ratio of -1.37, a price-to-earnings-growth ratio of 1.87 and a beta of 0.49. ModivCare has a 1 year low of $11.00 and a 1 year high of $52.33. The stock’s 50-day moving average price is $19.25 and its two-hundred day moving average price is $23.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63.

Insiders Place Their Bets

In related news, major shareholder Q Global Capital Management, L acquired 50,748 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of $14.16 per share, with a total value of $718,591.68. Following the completion of the transaction, the insider now directly owns 1,475,038 shares of the company’s stock, valued at approximately $20,886,538.08. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have purchased 96,800 shares of company stock worth $1,419,769. Company insiders own 22.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MODV. Barrington Research boosted their price objective on shares of ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Jefferies Financial Group decreased their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating for the company in a report on Friday, September 13th. Finally, Lake Street Capital dropped their price objective on ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th.

About ModivCare

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.