Zacks: Analysts Expect Benefitfocus, Inc. (NASDAQ:BNFT) Will Post Quarterly Sales of $59.00 Million

Brokerages predict that Benefitfocus, Inc. (NASDAQ:BNFT) will announce sales of $59.00 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Benefitfocus’ earnings, with the lowest sales estimate coming in at $58.19 million and the highest estimate coming in at $59.99 million. Benefitfocus reported sales of $63.58 million during the same quarter last year, which indicates a negative year-over-year growth rate of 7.2%. The company is expected to announce its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Benefitfocus will report full-year sales of $257.84 million for the current fiscal year, with estimates ranging from $256.54 million to $260.35 million. For the next fiscal year, analysts anticipate that the business will report sales of $255.88 million, with estimates ranging from $249.13 million to $263.89 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last posted its quarterly earnings data on Monday, August 2nd. The software maker reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05).

A number of brokerages have issued reports on BNFT. The Goldman Sachs Group lowered Benefitfocus from a “neutral” rating to a “sell” rating and set a $13.00 price target on the stock. in a research note on Thursday, June 3rd. Zacks Investment Research downgraded Benefitfocus from a “hold” rating to a “sell” rating in a report on Wednesday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Benefitfocus presently has an average rating of “Hold” and an average price target of $14.50.

NASDAQ:BNFT traded down $0.02 during mid-day trading on Wednesday, reaching $11.02. The company’s stock had a trading volume of 214,603 shares, compared to its average volume of 312,132. The company’s fifty day simple moving average is $12.14 and its two-hundred day simple moving average is $13.39. Benefitfocus has a twelve month low of $9.42 and a twelve month high of $17.58. The stock has a market cap of $367.47 million, a P/E ratio of -14.49 and a beta of 1.71.

In other Benefitfocus news, CFO Alpana Wegner sold 2,354 shares of Benefitfocus stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $12.01, for a total transaction of $28,271.54. Following the sale, the chief financial officer now directly owns 100,727 shares in the company, valued at approximately $1,209,731.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 21.70% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BNFT. Metropolitan Life Insurance Co NY grew its position in shares of Benefitfocus by 46,387.5% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 3,719 shares of the software maker’s stock worth $52,000 after acquiring an additional 3,711 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Benefitfocus by 161.9% in the 2nd quarter. MetLife Investment Management LLC now owns 9,309 shares of the software maker’s stock worth $131,000 after acquiring an additional 5,755 shares in the last quarter. KB Financial Partners LLC acquired a new position in shares of Benefitfocus in the 2nd quarter worth approximately $132,000. Paloma Partners Management Co acquired a new position in shares of Benefitfocus in the 1st quarter worth approximately $155,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Benefitfocus in the 1st quarter worth approximately $190,000. Institutional investors own 83.31% of the company’s stock.

Benefitfocus Company Profile

Benefitfocus, Inc engages in the provision of cloud-based benefits management platform for consumers, employers, insurance carriers, and brokers. The company was founded by Mason R. Holland and Shawn A. Jenkins in June 2000 and is headquartered in Charleston, SC.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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