Cross Country Healthcare (NASDAQ:CCRN) Updates Q2 Earnings Guidance

Cross Country Healthcare (NASDAQ:CCRNGet Rating) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $1.30-$1.40 for the period, compared to the consensus earnings per share estimate of $0.90. The company issued revenue guidance of $735-$745 million, compared to the consensus revenue estimate of $608.32 million.

Several brokerages recently commented on CCRN. Barrington Research boosted their target price on Cross Country Healthcare from $33.00 to $44.00 in a report on Monday, April 11th. StockNews.com began coverage on Cross Country Healthcare in a report on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research raised Cross Country Healthcare from a hold rating to a strong-buy rating and set a $22.00 target price on the stock in a report on Friday, January 21st. Jefferies Financial Group raised Cross Country Healthcare from a hold rating to a buy rating and boosted their target price for the stock from $18.00 to $27.00 in a report on Thursday, January 27th. Finally, Benchmark lifted their price target on shares of Cross Country Healthcare from $33.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, February 24th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $28.14.

Cross Country Healthcare stock traded down $0.50 during mid-day trading on Friday, hitting $17.21. The company’s stock had a trading volume of 525,466 shares, compared to its average volume of 516,323. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $655.01 million, a P/E ratio of 3.72, a P/E/G ratio of 0.84 and a beta of 1.09. Cross Country Healthcare has a twelve month low of $14.23 and a twelve month high of $30.40. The stock’s fifty day moving average price is $20.60 and its two-hundred day moving average price is $22.67.

Cross Country Healthcare (NASDAQ:CCRNGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.30. Cross Country Healthcare had a net margin of 8.17% and a return on equity of 66.94%. The firm had revenue of $788.70 million for the quarter, compared to analysts’ expectations of $745.54 million. During the same period in the previous year, the company posted $0.58 EPS. The company’s quarterly revenue was up 139.6% compared to the same quarter last year. Equities analysts expect that Cross Country Healthcare will post 3.53 earnings per share for the current year.

In other news, General Counsel Susan E. Ball sold 17,458 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $20.72, for a total transaction of $361,729.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William J. Burns sold 10,000 shares of the business’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $20.54, for a total transaction of $205,400.00. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its stake in shares of Cross Country Healthcare by 12.4% in the 3rd quarter. Royal Bank of Canada now owns 9,963 shares of the business services provider’s stock valued at $211,000 after purchasing an additional 1,103 shares during the last quarter. MetLife Investment Management LLC lifted its position in Cross Country Healthcare by 20.5% during the 4th quarter. MetLife Investment Management LLC now owns 12,489 shares of the business services provider’s stock worth $347,000 after acquiring an additional 2,121 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cross Country Healthcare by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 93,153 shares of the business services provider’s stock worth $2,587,000 after acquiring an additional 3,939 shares during the last quarter. Geode Capital Management LLC lifted its position in Cross Country Healthcare by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 615,146 shares of the business services provider’s stock worth $17,076,000 after acquiring an additional 5,062 shares during the last quarter. Finally, Advisor Group Holdings Inc. lifted its position in Cross Country Healthcare by 176.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 8,179 shares of the business services provider’s stock worth $177,000 after acquiring an additional 5,216 shares during the last quarter. 89.46% of the stock is owned by institutional investors and hedge funds.

About Cross Country Healthcare (Get Rating)

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in two segments, Nurse and Allied Staffing and Physician Staffing. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, local nurses, and allied staffing; staffing solutions for registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and clinical and non-clinical professionals on long-term contract assignments, as well as workforce solutions, including MSP, RPO, and consulting services.

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

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