Analysts Issue Forecasts for Cross Country Healthcare, Inc.’s FY2023 Earnings (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – William Blair reduced their FY2023 earnings estimates for shares of Cross Country Healthcare in a research report issued to clients and investors on Thursday, November 2nd. William Blair analyst T. Romeo now forecasts that the business services provider will post earnings per share of $2.22 for the year, down from their previous forecast of $2.38. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $2.40 per share. William Blair also issued estimates for Cross Country Healthcare’s Q3 2024 earnings at $0.39 EPS and Q4 2024 earnings at $0.40 EPS.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). Cross Country Healthcare had a return on equity of 23.73% and a net margin of 4.58%. The business had revenue of $442.29 million for the quarter, compared to analysts’ expectations of $443.90 million. During the same quarter in the prior year, the business earned $1.07 EPS. The company’s revenue was down 30.5% compared to the same quarter last year.

A number of other research firms have also recently weighed in on CCRN. StockNews.com initiated coverage on shares of Cross Country Healthcare in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Jefferies Financial Group restated a “hold” rating and set a $21.00 target price (down previously from $32.00) on shares of Cross Country Healthcare in a research note on Friday. Barrington Research reduced their price target on shares of Cross Country Healthcare from $35.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, August 14th. Credit Suisse Group reduced their price target on shares of Cross Country Healthcare from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, August 8th. Finally, Truist Financial reduced their price target on shares of Cross Country Healthcare from $25.00 to $22.00 and set a “hold” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Cross Country Healthcare Stock Down 2.7 %

CCRN opened at $19.37 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.34 and a current ratio of 2.34. Cross Country Healthcare has a fifty-two week low of $15.65 and a fifty-two week high of $37.69. The firm’s fifty day moving average is $23.81 and its 200 day moving average is $24.89. The stock has a market cap of $693.45 million, a price-to-earnings ratio of 6.87, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03.

Institutional Trading of Cross Country Healthcare

A number of large investors have recently made changes to their positions in CCRN. Advisor Group Holdings Inc. increased its holdings in shares of Cross Country Healthcare by 176.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,179 shares of the business services provider’s stock worth $177,000 after buying an additional 5,216 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cross Country Healthcare by 118.6% in the 1st quarter. JPMorgan Chase & Co. now owns 256,032 shares of the business services provider’s stock worth $5,548,000 after buying an additional 138,906 shares during the last quarter. US Bancorp DE bought a new stake in shares of Cross Country Healthcare in the 1st quarter worth about $27,000. Citigroup Inc. increased its holdings in shares of Cross Country Healthcare by 5.9% in the 1st quarter. Citigroup Inc. now owns 31,568 shares of the business services provider’s stock worth $684,000 after buying an additional 1,751 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Cross Country Healthcare by 9.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 23,527 shares of the business services provider’s stock worth $510,000 after buying an additional 2,027 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.

About Cross Country Healthcare

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 provides workforce solutions and traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; managed services programs services; education healthcare services; in-home care services; and outsourcing services.