Q3 2024 EPS Estimates for ModivCare Inc. (NASDAQ:MODV) Lowered by Analyst

ModivCare Inc. (NASDAQ:MODV) – Stock analysts at Barrington Research dropped their Q3 2024 EPS estimates for shares of ModivCare in a research note issued on Tuesday, September 17th. Barrington Research analyst M. Petusky now forecasts that the company will post earnings per share of $0.25 for the quarter, down from their prior estimate of $0.43. Barrington Research has a “Outperform” rating and a $19.00 price target on the stock. The consensus estimate for ModivCare’s current full-year earnings is $1.24 per share. Barrington Research also issued estimates for ModivCare’s Q4 2024 earnings at $0.38 EPS, FY2024 earnings at $0.25 EPS, Q1 2025 earnings at $0.31 EPS, Q2 2025 earnings at $0.44 EPS, Q4 2025 earnings at $0.78 EPS, FY2025 earnings at $2.22 EPS and FY2026 earnings at $3.91 EPS.

Other equities analysts also recently issued reports about the stock. Lake Street Capital decreased their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday. Jefferies Financial Group decreased their target price on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th.

ModivCare Trading Down 6.3 %

Shares of MODV opened at $11.91 on Friday. ModivCare has a 52-week low of $11.00 and a 52-week high of $52.33. The stock has a market cap of $169.60 million, a PE ratio of -0.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.52. The firm’s fifty day moving average is $24.08 and its two-hundred day moving average is $25.36. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 103.63.

ModivCare (NASDAQ:MODV) last released its earnings results on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.80). ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The firm had revenue of $698.30 million during the quarter, compared to analysts’ expectations of $701.00 million. During the same quarter last year, the business earned $1.41 EPS. The business’s revenue was down .1% compared to the same quarter last year.

Institutional Investors Weigh In On ModivCare

Several hedge funds and other institutional investors have recently bought and sold shares of MODV. Nisa Investment Advisors LLC grew its stake in shares of ModivCare by 5,522.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,237 shares of the company’s stock valued at $32,000 after buying an additional 1,215 shares during the period. Canada Pension Plan Investment Board acquired a new stake in ModivCare during the second quarter worth $60,000. State Board of Administration of Florida Retirement System acquired a new stake in ModivCare during the first quarter worth $91,000. Quest Partners LLC raised its position in ModivCare by 49.9% in the second quarter. Quest Partners LLC now owns 4,003 shares of the company’s stock valued at $105,000 after purchasing an additional 1,332 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of ModivCare in the 1st quarter valued at $100,000.

ModivCare Company Profile

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.