Zacks: Analysts Anticipate Molina Healthcare, Inc. (NYSE:MOH) to Post $2.82 Earnings Per Share

Analysts expect Molina Healthcare, Inc. (NYSE:MOH) to announce $2.82 earnings per share for the current quarter, according to Zacks. Five analysts have issued estimates for Molina Healthcare’s earnings, with the highest EPS estimate coming in at $3.20 and the lowest estimate coming in at $2.68. Molina Healthcare posted earnings of ($0.51) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 652.9%. The company is scheduled to issue its next earnings report on Wednesday, February 9th.

According to Zacks, analysts expect that Molina Healthcare will report full-year earnings of $13.37 per share for the current financial year, with EPS estimates ranging from $13.30 to $13.50. For the next fiscal year, analysts expect that the company will report earnings of $16.99 per share, with EPS estimates ranging from $16.40 to $17.94. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Molina Healthcare.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, October 27th. The company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.03. The company had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.82 billion. Molina Healthcare had a net margin of 2.31% and a return on equity of 25.93%. Molina Healthcare’s revenue for the quarter was up 40.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.36 EPS.

Several brokerages have recently issued reports on MOH. Wells Fargo & Company upped their target price on shares of Molina Healthcare from $256.00 to $281.00 and gave the company an “underweight” rating in a research report on Tuesday, November 2nd. Truist upped their price target on shares of Molina Healthcare from $300.00 to $330.00 and gave the company a “buy” rating in a report on Monday, September 20th. Cowen assumed coverage on shares of Molina Healthcare in a report on Thursday, September 9th. They set an “outperform” rating and a $336.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Molina Healthcare in a report on Monday. They set a “hold” rating on the stock. Finally, BMO Capital Markets upped their price target on shares of Molina Healthcare from $300.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, July 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Molina Healthcare has an average rating of “Buy” and a consensus target price of $310.02.

Shares of NYSE MOH traded up $0.50 during mid-day trading on Thursday, hitting $307.00. 135,666 shares of the company’s stock traded hands, compared to its average volume of 297,481. The company’s 50-day moving average is $290.26 and its two-hundred day moving average is $269.12. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $17.93 billion, a P/E ratio of 30.49, a PEG ratio of 1.06 and a beta of 0.69. Molina Healthcare has a 1 year low of $196.08 and a 1 year high of $316.04.

In related news, Director Ronna Romney sold 300 shares of the company’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $305.01, for a total value of $91,503.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Cooperman sold 5,000 shares of the company’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $309.13, for a total transaction of $1,545,650.00. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in Molina Healthcare by 12.6% in the third quarter. Captrust Financial Advisors now owns 1,672 shares of the company’s stock worth $454,000 after purchasing an additional 187 shares during the period. Janus Henderson Group PLC boosted its holdings in Molina Healthcare by 265.9% in the third quarter. Janus Henderson Group PLC now owns 93,051 shares of the company’s stock worth $25,246,000 after purchasing an additional 67,622 shares during the period. Corient Capital Partners LLC boosted its holdings in Molina Healthcare by 7.5% in the third quarter. Corient Capital Partners LLC now owns 1,149 shares of the company’s stock worth $312,000 after purchasing an additional 80 shares during the period. Brookfield Asset Management Inc. boosted its holdings in Molina Healthcare by 46.6% in the third quarter. Brookfield Asset Management Inc. now owns 8,944 shares of the company’s stock worth $2,427,000 after purchasing an additional 2,841 shares during the period. Finally, Squarepoint Ops LLC boosted its holdings in Molina Healthcare by 4.0% in the third quarter. Squarepoint Ops LLC now owns 28,340 shares of the company’s stock worth $7,689,000 after purchasing an additional 1,100 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.

Molina Healthcare Company Profile

Molina Healthcare, Inc engages in the provision of health care services. It operates through the Health Plans and Other segments. The Health Plans segment consists of health plans in 11 states and the Commonwealth of Puerto Rico and includes direct delivery business. The Other segment includes the historical results of the MMIS and behavioral health subsidiaries.

See Also: Why does the United States have a lingering trade deficit?

Get a free copy of the Zacks research report on Molina Healthcare (MOH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Molina Healthcare (NYSE:MOH)

Receive News & Ratings for Molina Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molina Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.