PACS Group (NYSE:PACS) Issues Earnings Results

PACS Group (NYSE:PACS) posted its quarterly earnings data on Monday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42), Briefing.com reports. The business had revenue of $981.80 million for the quarter, compared to the consensus estimate of $919.22 million. PACS Group’s revenue was up 29.1% compared to the same quarter last year. PACS Group updated its FY 2024 guidance to EPS.

PACS Group Stock Performance

PACS Group stock traded down $0.22 during mid-day trading on Wednesday, reaching $38.21. The company’s stock had a trading volume of 253,460 shares, compared to its average volume of 471,111. PACS Group has a twelve month low of $22.61 and a twelve month high of $39.00. The firm’s 50 day moving average is $31.59. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.56 and a quick ratio of 1.56.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. started coverage on PACS Group in a report on Monday, May 6th. They issued an “overweight” rating and a $27.00 price target for the company. Stephens increased their target price on PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday. Truist Financial raised their price target on shares of PACS Group from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Royal Bank of Canada upped their price target on shares of PACS Group from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Finally, Oppenheimer increased their price objective on shares of PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, PACS Group currently has an average rating of “Buy” and an average target price of $35.86.

PACS Group Company Profile

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.