FY2024 EPS Estimates for Cross Country Healthcare, Inc. Decreased by William Blair (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Analysts at William Blair reduced their FY2024 EPS estimates for shares of Cross Country Healthcare in a research note issued to investors on Thursday, May 2nd. William Blair analyst T. Romeo now expects that the business services provider will post earnings of $0.75 per share for the year, down from their prior forecast of $0.95. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share. William Blair also issued estimates for Cross Country Healthcare’s FY2025 earnings at $0.98 EPS.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The business had revenue of $379.17 million during the quarter, compared to analysts’ expectations of $374.38 million. During the same quarter in the previous year, the firm earned $0.84 EPS. The firm’s revenue was down 39.1% compared to the same quarter last year.

A number of other brokerages have also issued reports on CCRN. TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Benchmark dropped their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Truist Financial cut their price objective on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. Finally, Barrington Research decreased their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cross Country Healthcare currently has a consensus rating of “Hold” and a consensus target price of $20.83.

Cross Country Healthcare Stock Up 2.6 %

Shares of CCRN stock opened at $16.44 on Monday. Cross Country Healthcare has a 12 month low of $15.65 and a 12 month high of $28.75. The firm has a market cap of $571.68 million, a PE ratio of 12.65, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. The stock has a 50 day moving average of $17.86 and a 200-day moving average of $19.90.

Insider Activity

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the transaction, the insider now owns 35,101 shares in the company, valued at $594,961.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP grew its holdings in shares of Cross Country Healthcare by 37.1% in the 4th quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after purchasing an additional 515 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in Cross Country Healthcare by 2.0% during the fourth quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock worth $610,000 after buying an additional 520 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Cross Country Healthcare in the fourth quarter valued at approximately $28,000. SG Americas Securities LLC boosted its holdings in shares of Cross Country Healthcare by 8.2% in the 4th quarter. SG Americas Securities LLC now owns 19,754 shares of the business services provider’s stock worth $447,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Truvestments Capital LLC grew its position in Cross Country Healthcare by 26.1% during the 3rd quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock worth $241,000 after acquiring an additional 2,013 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.