FY2024 EPS Estimates for Cross Country Healthcare, Inc. (NASDAQ:CCRN) Cut by Analyst

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Analysts at William Blair dropped their FY2024 EPS estimates for Cross Country Healthcare in a report issued on Thursday, May 2nd. William Blair analyst T. Romeo now forecasts that the business services provider will post earnings per share of $0.75 for the year, down from their prior estimate of $0.95. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share. William Blair also issued estimates for Cross Country Healthcare’s FY2025 earnings at $0.98 EPS.

CCRN has been the subject of several other research reports. Benchmark reduced their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Barrington Research cut their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial dropped their price target on Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. Finally, TheStreet cut shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a report on Friday, March 1st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.83.

Cross Country Healthcare Stock Performance

Shares of Cross Country Healthcare stock opened at $16.44 on Monday. Cross Country Healthcare has a one year low of $15.65 and a one year high of $28.75. The company has a market capitalization of $571.68 million, a PE ratio of 12.65, a P/E/G ratio of 2.17 and a beta of 0.77. The company has a 50-day simple moving average of $17.86 and a two-hundred day simple moving average of $19.90.

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

Institutional Trading of Cross Country Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in Cross Country Healthcare during the 4th quarter worth approximately $28,000. Gladius Capital Management LP increased its position in shares of Cross Country Healthcare by 37.1% in the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after acquiring an additional 515 shares in the last quarter. Denali Advisors LLC raised its stake in shares of Cross Country Healthcare by 3,885.5% in the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 5,362 shares during the period. Aigen Investment Management LP acquired a new stake in Cross Country Healthcare in the 3rd quarter valued at $219,000. Finally, Allspring Global Investments Holdings LLC raised its position in Cross Country Healthcare by 212.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock valued at $226,000 after purchasing an additional 8,225 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Insider Buying and Selling

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction 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 $594,961.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.