The Pennant Group (NASDAQ:PNTG) Announces Quarterly Earnings Results

The Pennant Group (NASDAQ:PNTG) posted its quarterly earnings data on Wednesday. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01), FiscalAI reports. The business had revenue of $302.25 million for the quarter, compared to analysts’ expectations of $299.34 million. The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%.

The Pennant Group Stock Performance

NASDAQ:PNTG traded down $6.23 during trading hours on Thursday, reaching $37.81. 1,013,955 shares of the stock were exchanged, compared to its average volume of 298,876. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.48. The firm has a 50 day simple moving average of $40.15 and a 200-day simple moving average of $35.61. The Pennant Group has a 52 week low of $22.25 and a 52 week high of $44.24. The stock has a market capitalization of $1.32 billion, a P/E ratio of 42.11, a P/E/G ratio of 2.69 and a beta of 1.33.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Wells Fargo & Company upped their price target on shares of The Pennant Group from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Oppenheimer increased their price objective on shares of The Pennant Group from $47.00 to $50.00 and gave the company an “outperform” rating in a research note on Thursday. Royal Bank Of Canada raised their price objective on shares of The Pennant Group from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Finally, Weiss Ratings raised shares of The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.00.

About The Pennant Group

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.