Q2 2024 Earnings Forecast for Cross Country Healthcare, Inc. Issued By Barrington Research (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Barrington Research lowered their Q2 2024 earnings estimates for Cross Country Healthcare in a report issued on Monday, May 6th. Barrington Research analyst K. Steinke now forecasts that the business services provider will earn $0.15 per share for the quarter, down from their previous estimate of $0.18. Barrington Research currently has a “Outperform” rating and a $21.00 target price on the stock. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share.

A number of other research firms have also weighed in on CCRN. Truist Financial cut their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. TheStreet lowered shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research note on Friday, March 1st. Finally, Benchmark cut their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.83.

Cross Country Healthcare Stock Performance

Shares of CCRN opened at $16.41 on Wednesday. The stock has a market capitalization of $570.64 million, a PE ratio of 12.62, a P/E/G ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75. The company’s 50-day simple moving average is $17.78 and its 200-day simple moving average is $19.86.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Cross Country Healthcare

A number of institutional investors have recently modified their holdings of the business. Gladius Capital Management LP increased 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 valued at $43,000 after acquiring an additional 515 shares during the period. SummerHaven Investment Management LLC increased its holdings in shares of Cross Country Healthcare by 2.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,927 shares of the business services provider’s stock valued at $610,000 after acquiring an additional 520 shares during the period. GAMMA Investing LLC acquired a new position in shares of Cross Country Healthcare in the 4th quarter valued at $28,000. SG Americas Securities LLC increased 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 valued at $447,000 after acquiring an additional 1,493 shares during the period. Finally, Truvestments Capital LLC increased its holdings in shares of Cross Country Healthcare by 26.1% in the 3rd quarter. Truvestments Capital LLC now owns 9,721 shares of the business services provider’s stock valued at $241,000 after acquiring an additional 2,013 shares during the period. 96.03% of the stock is 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.