Barrington Research Analysts Cut Earnings Estimates for Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Stock analysts at Barrington Research decreased their Q2 2024 earnings per share (EPS) estimates for Cross Country Healthcare in a note issued to investors on Monday, May 6th. Barrington Research analyst K. Steinke now forecasts that the business services provider will post earnings per share of $0.15 for the quarter, down from their previous forecast of $0.18. Barrington Research has a “Outperform” rating and a $21.00 price objective on the stock. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share.

A number of other research analysts have also commented on CCRN. Truist Financial lowered their price target on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. TheStreet lowered Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Finally, Benchmark lowered their price target on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cross Country Healthcare has an average rating of “Hold” and a consensus target price of $20.83.

Cross Country Healthcare Stock Performance

Shares of CCRN opened at $16.41 on Wednesday. The firm has a market capitalization of $570.64 million, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a one year low of $15.65 and a one year high of $28.75. The stock’s fifty day moving average is $17.78 and its 200-day moving average is $19.86.

Cross Country Healthcare (NASDAQ:CCRN) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. The firm had revenue of $379.17 million for the quarter, compared to analyst estimates of $374.38 million. During the same period last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was down 39.1% on a year-over-year basis.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the transaction, the insider now owns 35,101 shares of the company’s stock, valued at $594,961.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.90% of the company’s stock.

Institutional Trading of Cross Country Healthcare

Several large investors have recently added to or reduced their stakes in CCRN. Wasatch Advisors LP lifted its position in shares of Cross Country Healthcare by 74.3% in the fourth quarter. Wasatch Advisors LP now owns 2,193,604 shares of the business services provider’s stock worth $49,663,000 after purchasing an additional 934,841 shares in the last quarter. Pacer Advisors Inc. lifted its position in Cross Country Healthcare by 50.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,489,580 shares of the business services provider’s stock worth $56,364,000 after buying an additional 834,941 shares in the last quarter. LSV Asset Management boosted its stake in shares of Cross Country Healthcare by 218.0% during the 3rd quarter. LSV Asset Management now owns 343,678 shares of the business services provider’s stock valued at $8,520,000 after buying an additional 235,600 shares during the period. Kestrel Investment Management Corp purchased a new position in shares of Cross Country Healthcare during the 3rd quarter valued at $5,171,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cross Country Healthcare by 80.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 401,887 shares of the business services provider’s stock worth $9,963,000 after acquiring an additional 179,093 shares during the last quarter. 96.03% of the stock is owned by institutional investors and hedge funds.

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.