Maximus Inc. (MMS) Posts Earnings Results, Beats Estimates By $0.05 EPS
Maximus Inc. (NYSE:MMS) released its quarterly earnings results on Thursday. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.05. Maximus had a net margin of 6.91% and a return on equity of 23.89%. The company had revenue of $623.10 million for the quarter, compared to analyst estimates of $610.65 million. During the same period last year, the firm earned $0.53 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. Maximus updated its FY17 guidance to $2.90-3.10 EPS.
Maximus (NYSE:MMS) opened at 49.12 on Friday. The stock has a 50 day moving average of $54.11 and a 200 day moving average of $56.12. The stock has a market cap of $3.19 billion, a P/E ratio of 20.07 and a beta of 1.15. Maximus has a 1-year low of $43.69 and a 1-year high of $61.68.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.18 annualized dividend and a dividend yield of 0.37%. Maximus’s payout ratio is 7.32%.
In related news, President Bruce Caswell sold 30,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $58.98, for a total transaction of $1,769,400.00. Following the sale, the president now directly owns 39,386 shares of the company’s stock, valued at approximately $2,322,986.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Francis sold 2,000 shares of the stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. Following the sale, the general counsel now directly owns 29,616 shares in the company, valued at $1,628,880. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB increased its stake in shares of Maximus by 211.2% in the second quarter. Nordea Investment Management AB now owns 10,286 shares of the company’s stock valued at $570,000 after buying an additional 6,981 shares during the period. Capstone Asset Management Co. increased its stake in shares of Maximus by 16.9% in the second quarter. Capstone Asset Management Co. now owns 7,262 shares of the company’s stock valued at $402,000 after buying an additional 1,050 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Maximus by 22.1% in the second quarter. BNP Paribas Arbitrage SA now owns 40,646 shares of the company’s stock valued at $2,251,000 after buying an additional 7,368 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Maximus during the first quarter valued at approximately $768,000. Finally, Royal Bank of Canada increased its stake in shares of Maximus by 7.1% in the first quarter. Royal Bank of Canada now owns 537,958 shares of the company’s stock valued at $28,319,000 after buying an additional 35,435 shares during the period. 99.00% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on MMS. Maxim Group raised their price target on shares of Maximus from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research lowered shares of Maximus from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Finally, Raymond James Financial Inc. lowered shares of Maximus from an “outperform” rating to a “market perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.00.
Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to Government health and human services agencies. The Company is primarily focused on operating Government-sponsored programs, such as Medicaid, children’s health insurance program (CHIP), health insurance exchanges and other health care reform initiatives, Medicare, welfare-to-work, child support services and other Government programs.
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