Maximus (NYSE:MMS) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Maximus (NYSE:MMS) posted its earnings results on Wednesday. The health services provider reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.05), Briefing.com reports. Maximus had a net margin of 3.30% and a return on equity of 14.46%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business posted $1.40 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Maximus updated its FY24 guidance to $5.05-5.35 EPS.

Maximus Stock Performance

NYSE:MMS opened at $82.29 on Friday. The company has a fifty day simple moving average of $76.68 and a two-hundred day simple moving average of $80.48. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 31.29 and a beta of 0.73. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. Maximus has a 52 week low of $59.73 and a 52 week high of $89.69.

Maximus Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be paid a $0.30 dividend. This is an increase from Maximus’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. Maximus’s payout ratio is 45.63%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TheStreet downgraded shares of Maximus from a “b” rating to a “c+” rating in a report on Tuesday, August 15th. Stifel Nicolaus started coverage on shares of Maximus in a report on Friday, August 18th. They issued a “buy” rating and a $102.00 target price for the company. Finally, StockNews.com upgraded shares of Maximus from a “hold” rating to a “buy” rating in a research note on Thursday.

Insiders Place Their Bets

In other Maximus news, insider Teresa Weipert sold 1,444 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $74.68, for a total value of $107,837.92. Following the completion of the transaction, the insider now owns 5,493 shares in the company, valued at $410,217.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Teresa Weipert sold 1,444 shares of Maximus stock in a transaction on Friday, September 29th. The shares were sold at an average price of $74.68, for a total transaction of $107,837.92. Following the completion of the sale, the insider now directly owns 5,493 shares of the company’s stock, valued at approximately $410,217.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael J. Warren sold 1,880 shares of Maximus stock in a transaction on Friday, September 15th. The stock was sold at an average price of $79.84, for a total transaction of $150,099.20. Following the sale, the director now directly owns 2,010 shares of the company’s stock, valued at $160,478.40. The disclosure for this sale can be found here. Insiders sold a total of 28,259 shares of company stock worth $2,120,083 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Maximus

Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. purchased a new stake in shares of Maximus during the 1st quarter worth $35,000. Captrust Financial Advisors lifted its position in Maximus by 14.9% in the second quarter. Captrust Financial Advisors now owns 1,303 shares of the health services provider’s stock valued at $81,000 after acquiring an additional 169 shares during the last quarter. Covestor Ltd lifted its position in Maximus by 92.8% in the first quarter. Covestor Ltd now owns 1,604 shares of the health services provider’s stock valued at $120,000 after acquiring an additional 772 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Maximus in the fourth quarter valued at $123,000. Finally, Rockefeller Capital Management L.P. lifted its position in Maximus by 57.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,394 shares of the health services provider’s stock valued at $175,000 after acquiring an additional 878 shares during the last quarter. 99.30% of the stock is owned by hedge funds and other institutional investors.

About Maximus

Maximus, Inc provides business process services (BPS) to government health and human services programs. It operates through three segments: U.S. Services, U.S. Federal Services, and Outside the U.S. The U.S. Services segment offers program eligibility support and enrollment; centralized multilingual customer contact centers, multichannel, and digital self-service options for enrollment; application assistance and independent health plan choice counseling; beneficiary outreach, education, eligibility, enrollment, and redeterminations; and person-centered independent disability, long-term sick, and other health assessments.