$66.43 Million in Sales Expected for Benefitfocus Inc (BNFT) This Quarter

Wall Street brokerages expect Benefitfocus Inc (NASDAQ:BNFT) to post $66.43 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Benefitfocus’ earnings. The highest sales estimate is $66.61 million and the lowest is $66.13 million. Benefitfocus posted sales of $62.65 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Benefitfocus will report full-year sales of $66.43 million for the current year, with estimates ranging from $256.11 million to $256.80 million. For the next year, analysts expect that the business will report sales of $278.04 million per share, with estimates ranging from $271.97 million to $281.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Benefitfocus.

Benefitfocus (NASDAQ:BNFT) last released its earnings results on Thursday, November 2nd. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.08. The firm had revenue of $62.45 million for the quarter, compared to analyst estimates of $62.19 million. During the same period in the prior year, the firm earned ($0.14) EPS. The firm’s revenue was up 7.6% on a year-over-year basis.

Several research firms have recently issued reports on BNFT. Zacks Investment Research downgraded shares of Benefitfocus from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Berenberg Bank restated a “buy” rating and set a $36.00 price objective on shares of Benefitfocus in a report on Thursday, August 10th. Canaccord Genuity restated a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a report on Monday, October 30th. William Blair downgraded shares of Benefitfocus from an “outperform” rating to a “market perform” rating in a report on Friday, November 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $34.00 price objective on shares of Benefitfocus in a report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.38.

Benefitfocus (BNFT) traded down $0.35 during trading hours on Monday, hitting $26.75. 148,500 shares of the stock traded hands, compared to its average volume of 202,869. Benefitfocus has a one year low of $22.30 and a one year high of $37.10. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of -2.39.

In other Benefitfocus news, CEO Shawn A. Jenkins bought 37,000 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $25.27 per share, with a total value of $934,990.00. Following the completion of the purchase, the chief executive officer now directly owns 2,782,683 shares in the company, valued at approximately $70,318,399.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 40.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of BNFT. Legal & General Group Plc boosted its position in Benefitfocus by 13.2% in the second quarter. Legal & General Group Plc now owns 3,593 shares of the software maker’s stock valued at $130,000 after buying an additional 420 shares in the last quarter. Sei Investments Co. acquired a new position in Benefitfocus in the second quarter valued at about $133,000. Aperio Group LLC acquired a new position in Benefitfocus in the second quarter valued at about $222,000. ETRADE Capital Management LLC acquired a new position in Benefitfocus in the second quarter valued at about $227,000. Finally, Voya Investment Management LLC acquired a new position in Benefitfocus in the second quarter valued at about $245,000. 85.75% of the stock is currently owned by institutional investors and hedge funds.

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Benefitfocus Company Profile

Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.

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Earnings History and Estimates for Benefitfocus (NASDAQ:BNFT)

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