SunTrust Banks Brokers Lower Earnings Estimates for Cross Country Healthcare, Inc. (CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Investment analysts at SunTrust Banks dropped their Q1 2019 earnings per share estimates for shares of Cross Country Healthcare in a report issued on Monday, November 5th. SunTrust Banks analyst T. Sommer now forecasts that the business services provider will post earnings per share of $0.01 for the quarter, down from their previous estimate of $0.05. SunTrust Banks also issued estimates for Cross Country Healthcare’s Q2 2019 earnings at $0.06 EPS, Q4 2019 earnings at $0.13 EPS, Q1 2020 earnings at $0.02 EPS, Q2 2020 earnings at $0.07 EPS, Q3 2020 earnings at $0.17 EPS and FY2020 earnings at $0.45 EPS.

CCRN has been the subject of a number of other research reports. BMO Capital Markets lowered Cross Country Healthcare from an “outperform” rating to a “market perform” rating and set a $13.00 target price for the company. in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Cross Country Healthcare from a “sell” rating to a “hold” rating in a research note on Thursday, September 27th. BidaskClub lowered Cross Country Healthcare from a “hold” rating to a “sell” rating in a research note on Saturday, September 22nd. Stephens assumed coverage on Cross Country Healthcare in a research note on Tuesday, October 2nd. They issued an “equal weight” rating for the company. Finally, ValuEngine upgraded Cross Country Healthcare from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.57.

Shares of CCRN stock opened at $9.12 on Wednesday. The firm has a market capitalization of $330.79 million, a P/E ratio of 30.42, a PEG ratio of 3.91 and a beta of 0.74. The company has a quick ratio of 2.33, a current ratio of 2.24 and a debt-to-equity ratio of 0.35. Cross Country Healthcare has a 1 year low of $7.41 and a 1 year high of $14.49.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Thursday, November 1st. The business services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Cross Country Healthcare had a net margin of 3.67% and a return on equity of 4.43%. The business had revenue of $200.72 million for the quarter, compared to analysts’ expectations of $200.66 million. During the same quarter in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was down 12.2% on a year-over-year basis.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alambic Investment Management L.P. purchased a new position in shares of Cross Country Healthcare during the 2nd quarter valued at about $122,000. Barclays PLC raised its stake in shares of Cross Country Healthcare by 118.6% during the 1st quarter. Barclays PLC now owns 12,283 shares of the business services provider’s stock valued at $136,000 after buying an additional 6,665 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Cross Country Healthcare during the 2nd quarter valued at about $138,000. SG Americas Securities LLC purchased a new position in shares of Cross Country Healthcare during the 2nd quarter valued at about $177,000. Finally, Laurion Capital Management LP purchased a new position in shares of Cross Country Healthcare during the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 89.95% of the company’s stock.

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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