Cross Country Healthcare (NASDAQ:CCRN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Cross Country Healthcare (NASDAQ:CCRN) released its quarterly earnings data on Wednesday. The business services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02, Briefing.com reports. The business had revenue of $379.17 million for the quarter, compared to analyst estimates of $374.38 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The company’s revenue was down 39.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.84 EPS. Cross Country Healthcare updated its Q2 guidance to $0.10-0.20 EPS and its Q2 2024 guidance to 0.100-0.200 EPS.

Cross Country Healthcare Stock Down 0.4 %

CCRN stock opened at $16.67 on Friday. Cross Country Healthcare has a 52-week low of $15.65 and a 52-week high of $28.75. The stock’s 50 day moving average is $17.92 and its two-hundred day moving average is $20.03. The company has a market capitalization of $578.12 million, a PE ratio of 12.82, a P/E/G ratio of 1.85 and a beta of 0.77.

Wall Street Analyst Weigh In

CCRN has been the topic of several recent research reports. Barrington Research reduced their price target on Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. TheStreet lowered Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Truist Financial reduced their price target on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Finally, Benchmark reduced their price target on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.33.

Insiders Place Their Bets

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of Cross Country Healthcare stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction of $105,361.20. Following the sale, the insider now directly owns 35,101 shares in the company, valued at approximately $594,961.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is owned by company insiders.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.