Concentra Group Holdings Parent (NYSE:CON) Shares Gap Up on Better-Than-Expected Earnings

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s share price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $18.71, but opened at $19.88. Concentra Group Holdings Parent shares last traded at $19.96, with a volume of 1,039,722 shares changing hands.

The company reported $0.37 EPS for the quarter. The firm had revenue of $489.64 million during the quarter. Concentra Group Holdings Parent had a net margin of 7.44% and a return on equity of 50.84%.

Concentra Group Holdings Parent Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, December 2nd will be paid a dividend of $0.0625 per share. The ex-dividend date is Tuesday, December 2nd. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.3%. Concentra Group Holdings Parent’s payout ratio is 21.01%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CON. Weiss Ratings reissued a “hold (c)” rating on shares of Concentra Group Holdings Parent in a research note on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Concentra Group Holdings Parent in a research note on Thursday, September 18th. They issued an “overweight” rating and a $31.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $27.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in Concentra Group Holdings Parent by 13.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 132,471 shares of the company’s stock worth $2,875,000 after buying an additional 15,493 shares in the last quarter. M&T Bank Corp grew its position in shares of Concentra Group Holdings Parent by 16.1% in the 1st quarter. M&T Bank Corp now owns 31,890 shares of the company’s stock valued at $692,000 after buying an additional 4,428 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Concentra Group Holdings Parent by 19.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,574 shares of the company’s stock valued at $78,000 after buying an additional 577 shares during the period. Foundry Partners LLC boosted its stake in shares of Concentra Group Holdings Parent by 12.4% in the first quarter. Foundry Partners LLC now owns 12,253 shares of the company’s stock valued at $266,000 after buying an additional 1,350 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Concentra Group Holdings Parent in the first quarter valued at about $281,000.

Concentra Group Holdings Parent Stock Up 5.0%

The firm has a market capitalization of $2.52 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74. The firm’s 50-day moving average is $21.02 and its 200 day moving average is $21.19. The company has a debt-to-equity ratio of 4.75, a quick ratio of 1.18 and a current ratio of 1.18.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers’ compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.