$565.52 Million in Sales Expected for ModivCare Inc. (NASDAQ:MODV) This Quarter

Analysts expect ModivCare Inc. (NASDAQ:MODVGet Rating) to post sales of $565.52 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for ModivCare’s earnings, with estimates ranging from $559.90 million to $571.39 million. ModivCare posted sales of $456.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 23.9%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that ModivCare will report full year sales of $2.36 billion for the current financial year, with estimates ranging from $2.33 billion to $2.39 billion. For the next year, analysts anticipate that the company will post sales of $2.51 billion, with estimates ranging from $2.46 billion to $2.54 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover ModivCare.

ModivCare (NASDAQ:MODVGet Rating) last released its quarterly earnings data on Friday, February 25th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.47. The business had revenue of $575.60 million during the quarter, compared to analysts’ expectations of $553.33 million. ModivCare had a negative net margin of 0.33% and a positive return on equity of 27.56%. The firm’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS.

A number of equities research analysts have recently commented on MODV shares. Zacks Investment Research lowered shares of ModivCare from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 22nd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ModivCare from $180.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, February 3rd. Finally, Barrington Research reduced their price objective on shares of ModivCare from $190.00 to $155.00 and set an “outperform” rating on the stock in a research note on Monday, February 28th.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in ModivCare by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 327,537 shares of the company’s stock worth $59,486,000 after purchasing an additional 8,062 shares during the period. Janus Henderson Group PLC boosted its position in ModivCare by 24.4% during the third quarter. Janus Henderson Group PLC now owns 657,463 shares of the company’s stock worth $119,409,000 after purchasing an additional 129,091 shares during the period. Advisor Group Holdings Inc. boosted its position in ModivCare by 21.0% during the third quarter. Advisor Group Holdings Inc. now owns 991 shares of the company’s stock worth $180,000 after purchasing an additional 172 shares during the period. Laurion Capital Management LP bought a new position in shares of ModivCare in the third quarter valued at approximately $568,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of ModivCare by 2.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,240 shares of the company’s stock valued at $1,074,000 after acquiring an additional 165 shares during the period.

MODV traded up $3.23 during trading on Friday, reaching $112.52. 65,902 shares of the company’s stock were exchanged, compared to its average volume of 68,782. ModivCare has a one year low of $94.38 and a one year high of $211.94. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 2.61. The stock has a market capitalization of $2.19 billion, a PE ratio of -216.38, a PEG ratio of 1.40 and a beta of 0.70. The stock has a fifty day moving average price of $110.87.

About ModivCare (Get Rating)

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

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