Zacks: Analysts Anticipate Benefitfocus Inc (BNFT) to Announce -$0.27 EPS
Wall Street brokerages expect Benefitfocus Inc (NASDAQ:BNFT) to post earnings of ($0.27) per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Benefitfocus’ earnings, with the highest EPS estimate coming in at ($0.23) and the lowest estimate coming in at ($0.30). Benefitfocus posted earnings per share of ($0.46) in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.3%. The company is expected to report its next earnings results after the market closes on Thursday, April 27th.
On average, analysts expect that Benefitfocus will report full-year earnings of ($0.91) per share for the current fiscal year, with EPS estimates ranging from ($1.05) to ($0.71). For the next year, analysts forecast that the business will post earnings of ($0.65) per share, with EPS estimates ranging from ($0.96) to ($0.38). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Thursday, February 23rd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $62.96 million. The business’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.33) EPS.
A number of brokerages have recently issued reports on BNFT. Chardan Capital restated a “buy” rating and set a $31.00 price objective on shares of Benefitfocus in a report on Wednesday, March 15th. Canaccord Genuity restated a “buy” rating and set a $33.00 price objective on shares of Benefitfocus in a report on Thursday, March 16th. Royal Bank of Canada restated a “hold” rating and set a $33.00 price objective on shares of Benefitfocus in a report on Friday, February 24th. Zacks Investment Research cut Benefitfocus from a “hold” rating to a “sell” rating in a report on Thursday, February 23rd. Finally, Berenberg Bank began coverage on Benefitfocus in a report on Tuesday, February 7th. They set a “buy” rating and a $36.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $39.11.
Benefitfocus (NASDAQ:BNFT) traded up 1.97% during mid-day trading on Monday, hitting $28.50. The stock had a trading volume of 159,940 shares. The stock’s 50-day moving average is $27.07 and its 200 day moving average is $30.05. The company’s market capitalization is $875.35 million. Benefitfocus has a 52 week low of $24.55 and a 52 week high of $44.98.
In other Benefitfocus news, insider James P. Restivo sold 2,193 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $27.28, for a total transaction of $59,825.04. Following the completion of the transaction, the insider now directly owns 51,401 shares in the company, valued at $1,402,219.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 45.20% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacad Investment Ltd. increased its position in shares of Benefitfocus by 500.0% in the fourth quarter. Pacad Investment Ltd. now owns 4,800 shares of the software maker’s stock valued at $143,000 after buying an additional 4,000 shares in the last quarter. Intellectus Partners LLC purchased a new position in shares of Benefitfocus during the fourth quarter valued at approximately $220,000. Raymond James Trust N.A. purchased a new position in shares of Benefitfocus during the first quarter valued at approximately $265,000. Ellington Management Group LLC increased its position in shares of Benefitfocus by 20.7% in the fourth quarter. Ellington Management Group LLC now owns 9,900 shares of the software maker’s stock valued at $294,000 after buying an additional 1,700 shares in the last quarter. Finally, Menta Capital LLC purchased a new position in shares of Benefitfocus during the fourth quarter valued at approximately $306,000. Institutional investors and hedge funds own 80.97% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Benefitfocus Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Benefitfocus Inc and related stocks with our FREE daily email newsletter.