Zacks Research Weighs in on AMN Healthcare Services, Inc.’s Q1 2024 Earnings (NYSE:AMN)

AMN Healthcare Services, Inc. (NYSE:AMN) – Zacks Research dropped their Q1 2024 earnings per share (EPS) estimates for shares of AMN Healthcare Services in a research report issued to clients and investors on Tuesday, April 16th. Zacks Research analyst D. Dey now anticipates that the company will post earnings of $0.93 per share for the quarter, down from their previous forecast of $0.94. The consensus estimate for AMN Healthcare Services’ current full-year earnings is $3.97 per share. Zacks Research also issued estimates for AMN Healthcare Services’ Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $0.98 EPS, Q4 2024 earnings at $1.06 EPS, FY2024 earnings at $3.90 EPS, Q3 2025 earnings at $0.82 EPS, Q1 2026 earnings at $1.37 EPS and FY2026 earnings at $4.86 EPS.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, February 15th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.07. The business had revenue of $818.27 million for the quarter, compared to analyst estimates of $803.14 million. AMN Healthcare Services had a return on equity of 38.29% and a net margin of 5.56%. The company’s revenue was down 27.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.48 EPS.

Several other equities analysts have also commented on AMN. StockNews.com lowered AMN Healthcare Services from a “hold” rating to a “sell” rating in a research report on Monday. BMO Capital Markets reduced their price target on AMN Healthcare Services from $85.00 to $83.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Finally, JMP Securities reduced their price target on AMN Healthcare Services from $87.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $87.25.

AMN Healthcare Services Stock Performance

NYSE AMN opened at $56.32 on Wednesday. The firm has a market capitalization of $2.13 billion, a P/E ratio of 10.65 and a beta of 0.22. AMN Healthcare Services has a 1-year low of $53.77 and a 1-year high of $112.44. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.28 and a quick ratio of 1.28. The business’s 50-day simple moving average is $61.50 and its 200-day simple moving average is $68.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMN. Cetera Advisor Networks LLC boosted its position in AMN Healthcare Services by 26.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,191 shares of the company’s stock valued at $333,000 after purchasing an additional 670 shares during the period. Private Advisor Group LLC acquired a new position in AMN Healthcare Services during the 1st quarter valued at approximately $526,000. MetLife Investment Management LLC boosted its position in AMN Healthcare Services by 55.3% during the 1st quarter. MetLife Investment Management LLC now owns 25,124 shares of the company’s stock worth $2,621,000 after acquiring an additional 8,945 shares during the period. Rhumbline Advisers boosted its position in AMN Healthcare Services by 7.5% during the 1st quarter. Rhumbline Advisers now owns 115,955 shares of the company’s stock worth $12,098,000 after acquiring an additional 8,046 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in AMN Healthcare Services by 7.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 44,349 shares of the company’s stock worth $4,762,000 after acquiring an additional 3,137 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

Insiders Place Their Bets

In other AMN Healthcare Services news, CEO Caroline Grace acquired 17,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were bought at an average cost of $56.68 per share, for a total transaction of $991,900.00. Following the acquisition, the chief executive officer now directly owns 27,178 shares of the company’s stock, valued at $1,540,449.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Jeffrey R. Knudson purchased 6,951 shares of the stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average cost of $57.75 per share, for a total transaction of $401,420.25. Following the acquisition, the chief financial officer now owns 27,804 shares of the company’s stock, valued at $1,605,681. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Caroline Grace purchased 17,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $56.68 per share, with a total value of $991,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 27,178 shares in the company, valued at approximately $1,540,449.04. The disclosure for this purchase can be found here. Insiders have acquired 26,626 shares of company stock worth $1,516,899 in the last three months. 0.93% of the stock is owned by insiders.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.