Cross Country Healthcare, Inc. (NASDAQ:CCRN) Forecasted to Earn FY2024 Earnings of $0.53 Per Share

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Investment analysts at William Blair reduced their FY2024 earnings estimates for shares of Cross Country Healthcare in a note issued to investors on Friday, August 23rd. William Blair analyst T. Romeo now forecasts that the business services provider will earn $0.53 per share for the year, down from their prior forecast of $0.65. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.68 per share.

A number of other equities research analysts have also recently commented on CCRN. Truist Financial lifted their price target on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Barrington Research dropped their price target on Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark decreased their price objective on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Cross Country Healthcare presently has a consensus rating of “Hold” and an average target price of $19.60.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock opened at $15.34 on Monday. The firm has a market cap of $533.43 million, a PE ratio of 11.80, a P/E/G ratio of 2.57 and a beta of 0.63. Cross Country Healthcare has a 1 year low of $12.87 and a 1 year high of $26.17. The stock has a fifty day moving average price of $14.83 and a 200-day moving average price of $16.27.

Cross Country Healthcare (NASDAQ:CCRN) last announced its earnings results on Wednesday, July 31st. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The firm had revenue of $339.77 million during the quarter, compared to analysts’ expectations of $334.75 million. During the same quarter in the prior year, the company earned $0.69 EPS. The business’s revenue for the quarter was down 37.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CCRN. Algert Global LLC raised its holdings in Cross Country Healthcare by 8.3% in the second quarter. Algert Global LLC now owns 62,174 shares of the business services provider’s stock worth $860,000 after purchasing an additional 4,751 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Cross Country Healthcare by 39.9% in the 2nd quarter. AQR Capital Management LLC now owns 322,483 shares of the business services provider’s stock worth $4,463,000 after buying an additional 92,011 shares during the period. Squarepoint Ops LLC bought a new position in shares of Cross Country Healthcare in the 2nd quarter worth about $174,000. Public Sector Pension Investment Board lifted its position in Cross Country Healthcare by 4.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 71,927 shares of the business services provider’s stock valued at $995,000 after acquiring an additional 3,356 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Cross Country Healthcare by 3.8% during the second quarter. Pacer Advisors Inc. now owns 4,550,848 shares of the business services provider’s stock worth $62,984,000 after acquiring an additional 165,032 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Cynthia Ann Grieco sold 1,945 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $17.21, for a total value of $33,473.45. Following the completion of the sale, the vice president now owns 7,605 shares of the company’s stock, valued at approximately $130,882.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Cynthia Ann Grieco sold 1,945 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $17.21, for a total value of $33,473.45. Following the transaction, the vice president now owns 7,605 shares in the company, valued at $130,882.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Krug sold 13,657 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $14.82, for a total transaction of $202,396.74. Following the completion of the sale, the insider now directly owns 36,020 shares in the company, valued at approximately $533,816.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,431 shares of company stock valued at $472,070. 4.90% of the stock is currently owned by corporate insiders.

About Cross Country Healthcare

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.