Barrington Research Analysts Lower Earnings Estimates for Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Barrington Research cut their Q3 2024 earnings per share estimates for shares of Cross Country Healthcare in a report issued on Monday, May 6th. Barrington Research analyst K. Steinke now anticipates that the business services provider will earn $0.15 per share for the quarter, down from their prior forecast of $0.26. Barrington Research has a “Outperform” rating and a $21.00 price objective on the stock. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share. Barrington Research also issued estimates for Cross Country Healthcare’s Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.70 EPS and FY2025 earnings at $1.07 EPS.

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

CCRN has been the topic of a number of other reports. Truist Financial decreased their target price on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. TheStreet lowered Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Finally, Benchmark reduced their price objective on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.83.

Cross Country Healthcare Stock Down 0.4 %

Shares of NASDAQ CCRN opened at $16.41 on Thursday. The firm has a market capitalization of $570.64 million, a P/E ratio of 12.62, a P/E/G ratio of 2.17 and a beta of 0.77. The stock’s 50-day simple moving average is $17.78 and its two-hundred day simple moving average is $19.86. Cross Country Healthcare has a twelve month low of $15.65 and a twelve month high of $28.75.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in Cross Country Healthcare in the 4th quarter worth approximately $28,000. Gladius Capital Management LP lifted its holdings in Cross Country Healthcare by 37.1% in the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after buying an additional 515 shares during the period. Denali Advisors LLC lifted 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. Aigen Investment Management LP purchased a new stake in Cross Country Healthcare in the 3rd quarter worth approximately $219,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Cross Country Healthcare by 212.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after buying an additional 8,225 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

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.