Brokers Issue Forecasts for The Joint Corp.’s Q3 2024 Earnings (NASDAQ:JYNT)

The Joint Corp. (NASDAQ:JYNT) – Equities research analysts at B. Riley increased their Q3 2024 earnings per share (EPS) estimates for shares of Joint in a research note issued to investors on Monday, May 6th. B. Riley analyst J. Van. Sinderen now anticipates that the company will post earnings of $0.00 per share for the quarter, up from their prior estimate of ($0.01). B. Riley has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Joint’s current full-year earnings is $0.13 per share. B. Riley also issued estimates for Joint’s Q4 2024 earnings at $0.04 EPS.

Joint (NASDAQ:JYNT) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.04. Joint had a positive return on equity of 3.94% and a negative net margin of 9.24%. The business had revenue of $30.61 million during the quarter, compared to analyst estimates of $29.63 million.

Several other equities research analysts have also commented on the stock. Roth Mkm reiterated a “buy” rating and issued a $16.00 price objective (up previously from $13.00) on shares of Joint in a research note on Friday. StockNews.com raised Joint from a “hold” rating to a “buy” rating in a report on Monday. Finally, TheStreet lowered Joint from a “c-” rating to a “d” rating in a report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.00.

Joint Price Performance

JYNT opened at $15.79 on Tuesday. Joint has a fifty-two week low of $7.31 and a fifty-two week high of $16.35. The company’s 50-day moving average is $12.17 and its 200 day moving average is $10.21.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hudson Bay Capital Management LP bought a new stake in shares of Joint in the 3rd quarter worth approximately $867,000. WINTON GROUP Ltd bought a new position in Joint during the third quarter valued at $179,000. First Foundation Advisors purchased a new stake in Joint in the third quarter worth $1,336,000. Trexquant Investment LP raised its stake in shares of Joint by 15.2% in the third quarter. Trexquant Investment LP now owns 76,589 shares of the company’s stock valued at $689,000 after buying an additional 10,122 shares during the period. Finally, Skylands Capital LLC lifted its position in shares of Joint by 20.3% during the 4th quarter. Skylands Capital LLC now owns 603,640 shares of the company’s stock valued at $5,801,000 after buying an additional 101,850 shares during the last quarter. 76.88% of the stock is owned by institutional investors.

About Joint

The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.