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

Wall Street brokerages forecast that Cross Country Healthcare, Inc. (NASDAQ:CCRN) will report sales of $198.52 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cross Country Healthcare’s earnings. The lowest sales estimate is $192.40 million and the highest is $206.19 million. Cross Country Healthcare reported sales of $202.76 million during the same quarter last year, which indicates a negative year over year growth rate of 2.1%. The business is scheduled to report its next earnings report on Wednesday, July 29th.

On average, analysts expect that Cross Country Healthcare will report full year sales of $810.80 million for the current year, with estimates ranging from $727.24 million to $854.44 million. For the next year, analysts forecast that the company 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 research firms that follow 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, topping analysts’ consensus estimates of ($0.02) by $0.01. The business had revenue of $210.06 million during the quarter, compared to the consensus estimate of $210.01 million. Cross Country Healthcare had a positive return on equity of 2.80% and a negative net margin of 6.93%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS.

A number of analysts have recently commented on CCRN shares. TheStreet downgraded Cross Country Healthcare from a “c-” rating to a “d+” rating in a report on Monday, April 6th. Oppenheimer reissued a “hold” rating on shares of Cross Country Healthcare in a research report on Friday, May 15th. Zacks Investment Research downgraded Cross Country Healthcare from a “buy” rating to a “hold” rating in a research report on Monday, March 30th. BidaskClub upgraded Cross Country Healthcare from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Finally, Barrington Research reduced their price target on Cross Country Healthcare from $11.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, May 18th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Cross Country Healthcare presently has a consensus rating of “Hold” and an average price target of $8.08.

Shares of CCRN stock traded up $0.50 on Monday, reaching $6.19. 330,194 shares of the stock were exchanged, compared to its average volume of 303,871. The stock has a market cap of $213.15 million, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 47.42 and a beta of 0.97. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.53. The firm has a 50 day moving average of $5.95 and a two-hundred day moving average of $8.25. Cross Country Healthcare has a 1-year low of $4.50 and a 1-year high of $13.42.

In other Cross Country Healthcare news, Director Thomas C. Dircks acquired 10,712 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $5.15 per share, for a total transaction of $55,166.80. Following the acquisition, the director now directly owns 165,072 shares of the company’s stock, valued at $850,120.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Cronin Clark purchased 23,147 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $5.15 per share, with a total value of $119,207.05. Following the completion of the acquisition, 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 acquired a total of 77,528 shares of company stock worth $434,886 over the last 90 days. 5.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CCRN. California Public Employees Retirement System increased its holdings in shares of Cross Country Healthcare by 18.8% in the 4th quarter. California Public Employees Retirement System now owns 63,105 shares of the business services provider’s stock valued at $733,000 after acquiring an additional 10,000 shares during the last quarter. Rhumbline Advisers grew its stake in Cross Country Healthcare by 5.1% during the 4th quarter. Rhumbline Advisers now owns 129,549 shares of the business services provider’s stock worth $1,505,000 after buying an additional 6,228 shares during the last quarter. Swiss National Bank grew its stake in Cross Country Healthcare by 2.3% during the 4th quarter. Swiss National Bank now owns 70,600 shares of the business services provider’s stock worth $820,000 after buying an additional 1,600 shares during the last quarter. State Street Corp grew its stake in Cross Country Healthcare by 3.2% during the 4th quarter. State Street Corp now owns 1,367,881 shares of the business services provider’s stock worth $15,895,000 after buying an additional 42,279 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Cross Country Healthcare by 19.0% during the 4th quarter. Sei Investments Co. now owns 477,796 shares of the business services provider’s stock worth $5,552,000 after buying an additional 76,155 shares during the last quarter. Institutional investors and hedge funds own 94.03% 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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