Zacks: Analysts Expect Cross Country Healthcare, Inc. (CCRN) Will Post Quarterly Sales of $210.02 Million

Wall Street brokerages expect Cross Country Healthcare, Inc. (NASDAQ:CCRN) to report sales of $210.02 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Cross Country Healthcare’s earnings, with the highest sales estimate coming in at $211.20 million and the lowest estimate coming in at $208.34 million. Cross Country Healthcare reported sales of $199.44 million during the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The firm is scheduled to report its next quarterly earnings report after the market closes on Wednesday, August 2nd.

According to Zacks, analysts expect that Cross Country Healthcare will report full-year sales of $210.02 million for the current fiscal year, with estimates ranging from $879.04 million to $883.20 million. For the next financial year, analysts forecast that the business will post sales of $946.48 million per share, with estimates ranging from $944.07 million to $948.89 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Cross Country Healthcare.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings results on Wednesday, May 3rd. The business services provider reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. Cross Country Healthcare had a positive return on equity of 13.60% and a negative net margin of 1.55%. The company had revenue of $207.57 million during the quarter, compared to analysts’ expectations of $212.43 million.

A number of equities research analysts recently commented on CCRN shares. BMO Capital Markets reaffirmed a “buy” rating and set a $18.00 price objective on shares of Cross Country Healthcare in a research note on Wednesday, April 5th. Benchmark Co. decreased their price objective on Cross Country Healthcare from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Zacks Investment Research cut Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, May 9th. UBS AG reissued a “buy” rating and issued a $15.00 target price (down from $16.50) on shares of Cross Country Healthcare in a research note on Wednesday, June 14th. Finally, BidaskClub cut Cross Country Healthcare from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $16.36.

Cross Country Healthcare (NASDAQ CCRN) traded down 1.51% on Friday, hitting $11.76. The stock had a trading volume of 232,292 shares. The firm’s market cap is $428.45 million. Cross Country Healthcare has a 1-year low of $10.53 and a 1-year high of $16.38. The firm’s 50-day moving average price is $12.48 and its 200-day moving average price is $13.50.

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Several hedge funds have recently modified their holdings of the stock. LS Investment Advisors LLC raised its stake in shares of Cross Country Healthcare by 484.5% in the first quarter. LS Investment Advisors LLC now owns 7,184 shares of the business services provider’s stock worth $103,000 after buying an additional 5,955 shares during the period. Globeflex Capital L P bought a new stake in Cross Country Healthcare during the first quarter valued at about $104,000. Mason Street Advisors LLC raised its stake in Cross Country Healthcare by 6.9% in the first quarter. Mason Street Advisors LLC now owns 7,713 shares of the business services provider’s stock valued at $111,000 after buying an additional 499 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Cross Country Healthcare during the first quarter valued at about $157,000. Finally, Sapphire Star Partners LP bought a new stake in Cross Country Healthcare during the first quarter valued at about $161,000. Institutional investors own 90.12% of the company’s stock.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc is engaged in providing healthcare recruiting, staffing, recruiting and workforce solutions. The Company operates in three segments: Nurse and Allied Staffing, Physician Staffing and Other Human Capital Management Services. The Nurse and Allied Staffing segment provides traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, and branch-based local nurses and allied staffing.

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Earnings History and Estimates for Cross Country Healthcare (NASDAQ:CCRN)

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