Cross Country Healthcare, Inc. (NASDAQ:CCRN) Expected to Post Quarterly Sales of $198.52 Million

Equities research analysts expect that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will post $198.52 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Cross Country Healthcare’s earnings, with the highest sales estimate coming in at $206.19 million and the lowest estimate coming in at $192.40 million. Cross Country Healthcare posted sales of $202.76 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.1%. The company is expected to announce its next earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Cross Country Healthcare will report full year sales of $810.80 million for the current financial year, with estimates ranging from $727.24 million to $854.44 million. For the next year, analysts expect that the business will report sales of $820.53 million, with estimates ranging from $660.08 million to $896.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Cross Country Healthcare.

Cross Country Healthcare (NASDAQ:CCRN) last released its quarterly earnings data on Thursday, May 7th. The business services provider reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $210.06 million during the quarter, compared to the consensus estimate of $210.01 million. Cross Country Healthcare had a negative net margin of 6.93% and a positive return on equity of 2.80%. Cross Country Healthcare’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS.

A number of analysts have recently issued reports on CCRN shares. BidaskClub upgraded shares of Cross Country Healthcare from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Barrington Research cut their price target on shares of Cross Country Healthcare from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Monday, May 18th. SunTrust Banks cut their price target on shares of Cross Country Healthcare from $9.00 to $7.00 and set a “hold” rating for the company in a report on Friday, May 8th. Zacks Investment Research downgraded shares of Cross Country Healthcare from a “buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, TheStreet downgraded shares of Cross Country Healthcare from a “c-” rating to a “d+” rating in a report on Monday, April 6th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $8.08.

In related news, General Counsel Susan E. Ball acquired 4,800 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $5.91 per share, with a total value of $28,368.00. Following the transaction, the general counsel now owns 213,805 shares of the company’s stock, valued at approximately $1,263,587.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Cronin Clark acquired 23,147 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average cost of $5.15 per share, with a total value of $119,207.05. Following the transaction, the chief executive officer now directly owns 498,306 shares in the company, valued at approximately $2,566,275.90. The disclosure for this purchase can be found here. Insiders have purchased a total of 77,528 shares of company stock valued at $434,886 in the last ninety days. 5.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Systematic Financial Management LP boosted its position in Cross Country Healthcare by 17.9% in the 1st quarter. Systematic Financial Management LP now owns 2,047,881 shares of the business services provider’s stock valued at $13,803,000 after buying an additional 311,030 shares during the period. JPMorgan Chase & Co. boosted its position in Cross Country Healthcare by 9.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,757,712 shares of the business services provider’s stock valued at $11,847,000 after buying an additional 150,927 shares during the period. State Street Corp boosted its position in Cross Country Healthcare by 3.2% in the 4th quarter. State Street Corp now owns 1,367,881 shares of the business services provider’s stock valued at $15,895,000 after buying an additional 42,279 shares during the period. Investment Counselors of Maryland LLC boosted its position in Cross Country Healthcare by 1.7% in the 4th quarter. Investment Counselors of Maryland LLC now owns 987,144 shares of the business services provider’s stock valued at $11,471,000 after buying an additional 16,660 shares during the period. Finally, Heartland Advisors Inc. boosted its position in Cross Country Healthcare by 4.5% in the 4th quarter. Heartland Advisors Inc. now owns 616,122 shares of the business services provider’s stock valued at $7,159,000 after buying an additional 26,696 shares during the period. 94.03% of the stock is owned by institutional investors.

Shares of NASDAQ CCRN traded down $0.24 during midday trading on Monday, reaching $5.69. 312,680 shares of the stock were exchanged, compared to its average volume of 329,176. The company has a 50 day simple moving average of $5.96 and a 200 day simple moving average of $8.34. The stock has a market capitalization of $222.14 million, a P/E ratio of -3.51, a PEG ratio of 49.42 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.93 and a current ratio of 1.93. Cross Country Healthcare has a twelve month low of $4.50 and a twelve month high of $13.42.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides healthcare staffing, recruiting, and workforce solutions in the United States. The company operates in three segments: Nurse and Allied Staffing, Physician Staffing, and Other Human Capital Management Services. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses, and allied staffing; short-term staffing of registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and travel allied professionals on long-term contract assignments.

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Earnings History and Estimates for Cross Country Healthcare (NASDAQ:CCRN)

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