Brookdale Senior Living (NYSE:BKD) Shares Gap Down on Disappointing Earnings

Brookdale Senior Living Inc. (NYSE:BKD)’s share price gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $7.80, but opened at $7.36. Brookdale Senior Living shares last traded at $7.31, with a volume of 1,086,659 shares traded.

The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.04). The company had revenue of $812.94 million during the quarter, compared to analysts’ expectations of $817.63 million. Brookdale Senior Living had a negative return on equity of 93.47% and a negative net margin of 7.60%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BKD shares. Barclays set a $8.00 target price on shares of Brookdale Senior Living and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Brookdale Senior Living in a research report on Wednesday, July 9th. Finally, Wall Street Zen downgraded Brookdale Senior Living from a “hold” rating to a “sell” rating in a research note on Sunday, July 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKD. GAMMA Investing LLC grew its position in Brookdale Senior Living by 1,999.4% in the 1st quarter. GAMMA Investing LLC now owns 7,180 shares of the company’s stock worth $45,000 after purchasing an additional 6,838 shares during the period. PNC Financial Services Group Inc. purchased a new position in shares of Brookdale Senior Living in the 1st quarter worth $47,000. Lazard Asset Management LLC grew its holdings in shares of Brookdale Senior Living by 6,029.2% in the fourth quarter. Lazard Asset Management LLC now owns 9,868 shares of the company’s stock worth $49,000 after acquiring an additional 9,707 shares during the period. Strs Ohio bought a new stake in shares of Brookdale Senior Living in the first quarter worth $61,000. Finally, Crestline Management LP purchased a new stake in Brookdale Senior Living during the fourth quarter valued at $64,000.

Brookdale Senior Living Stock Performance

The business has a fifty day simple moving average of $7.19 and a two-hundred day simple moving average of $6.31. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 28.85. The company has a market cap of $1.67 billion, a P/E ratio of -6.79 and a beta of 0.87.

Brookdale Senior Living Company Profile

Brookdale Senior Living Inc owns, manages, and operates senior living communities in the United States. It operates in three segments: Independent Living, Assisted Living and Memory Care, and Continuing Care Retirement Communities (CCRCs). The Independent Living segment owns or leases communities comprising independent and assisted living units in a single community that are primarily designed for middle to upper income seniors.