Equities Analysts Set Expectations for Cross Country Healthcare, Inc.’s FY2024 Earnings (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Equities research analysts at William Blair dropped their FY2024 earnings per share estimates for shares of Cross Country Healthcare in a research note issued on Thursday, May 2nd. William Blair analyst T. Romeo now anticipates that the business services provider will earn $0.75 per share for the year, down from their previous forecast of $0.95. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share. William Blair also issued estimates for Cross Country Healthcare’s FY2025 earnings at $0.98 EPS.

CCRN has been the subject of several other reports. Truist Financial decreased their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, February 22nd. Barrington Research lowered their price objective on Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. TheStreet downgraded Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Finally, Benchmark decreased their price target on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Cross Country Healthcare presently has an average rating of “Hold” and an average price target of $21.33.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock opened at $16.67 on Monday. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75. The firm’s 50-day moving average is $17.92 and its 200 day moving average is $19.99. The stock has a market cap of $578.12 million, a price-to-earnings ratio of 12.82, a PEG ratio of 1.85 and a beta of 0.77.

Cross Country Healthcare (NASDAQ:CCRN) last released its earnings results on Wednesday, May 1st. The business services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The business had revenue of $379.17 million for the quarter, compared to the consensus estimate of $374.38 million. During the same period in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down 39.1% compared to the same quarter last year.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $16.95, for a total value of $105,361.20. Following the completion of the sale, the insider now directly owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CCRN. Allspring Global Investments Holdings LLC lifted its holdings in Cross Country Healthcare by 212.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock valued at $226,000 after purchasing an additional 8,225 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Cross Country Healthcare during the 1st quarter valued at $2,078,000. Paradiem LLC lifted its stake in shares of Cross Country Healthcare by 112.8% during the 1st quarter. Paradiem LLC now owns 136,294 shares of the business services provider’s stock valued at $2,551,000 after buying an additional 72,244 shares in the last quarter. Denali Advisors LLC boosted its holdings in Cross Country Healthcare by 3,885.5% in the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after buying an additional 5,362 shares during the period. Finally, Wasatch Advisors LP increased its stake in Cross Country Healthcare by 74.3% in the 4th quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after buying an additional 934,841 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides 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; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.