Zacks: Brokerages Expect Evolent Health, Inc. (NYSE:EVH) Will Post Earnings of -$0.03 Per Share

Equities analysts expect that Evolent Health, Inc. (NYSE:EVHGet Rating) will post earnings of ($0.03) per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Evolent Health’s earnings, with the highest EPS estimate coming in at $0.00 and the lowest estimate coming in at ($0.05). Evolent Health reported earnings per share of ($0.02) in the same quarter last year, which would suggest a negative year over year growth rate of 50%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Evolent Health will report full-year earnings of $0.05 per share for the current fiscal year, with EPS estimates ranging from ($0.09) to $0.19. For the next year, analysts anticipate that the company will report earnings of $0.37 per share, with EPS estimates ranging from $0.21 to $0.48. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Evolent Health.

Evolent Health (NYSE:EVHGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.20. The company had revenue of $297.10 million during the quarter, compared to the consensus estimate of $286.81 million. Evolent Health had a negative return on equity of 0.86% and a negative net margin of 3.35%. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS.

EVH has been the subject of several recent analyst reports. StockNews.com initiated coverage on Evolent Health in a report on Thursday, March 31st. They issued a “hold” rating for the company. Guggenheim began coverage on Evolent Health in a report on Tuesday, March 29th. They issued a “buy” rating and a $43.00 price objective for the company. BTIG Research raised their price target on Evolent Health from $35.00 to $40.00 and gave the company a “buy” rating in a report on Friday, March 25th. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Wednesday, May 4th. Finally, Canaccord Genuity Group raised their price target on Evolent Health from $40.00 to $45.00 in a report on Monday, May 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.29.

In other news, COO Steve Tutewohl sold 1,918 shares of Evolent Health stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $27.30, for a total transaction of $52,361.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Republic Investment Management Inc. lifted its holdings in shares of Evolent Health by 1.6% during the first quarter. First Republic Investment Management Inc. now owns 22,005 shares of the technology company’s stock worth $711,000 after buying an additional 355 shares in the last quarter. Arizona State Retirement System increased its position in shares of Evolent Health by 1.6% in the third quarter. Arizona State Retirement System now owns 23,679 shares of the technology company’s stock worth $734,000 after purchasing an additional 362 shares during the period. Legal & General Group Plc increased its position in shares of Evolent Health by 0.7% in the fourth quarter. Legal & General Group Plc now owns 77,333 shares of the technology company’s stock worth $2,140,000 after purchasing an additional 570 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Evolent Health by 3.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 26,184 shares of the technology company’s stock worth $725,000 after purchasing an additional 756 shares during the period. Finally, Polar Capital Holdings Plc increased its position in shares of Evolent Health by 2.1% in the first quarter. Polar Capital Holdings Plc now owns 40,008 shares of the technology company’s stock worth $1,292,000 after purchasing an additional 820 shares during the period. 93.27% of the stock is owned by institutional investors.

Shares of NYSE EVH traded up $0.47 during trading hours on Friday, hitting $29.43. The company had a trading volume of 719,076 shares, compared to its average volume of 720,711. The stock has a market capitalization of $2.70 billion, a P/E ratio of -77.45 and a beta of 2.07. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.46. Evolent Health has a 1-year low of $18.33 and a 1-year high of $34.60. The firm’s 50 day moving average is $29.61 and its 200-day moving average is $27.31.

About Evolent Health (Get Rating)

Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

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