Performant Healthcare (PHLT) Expected to Announce Quarterly Earnings on Wednesday

Performant Healthcare (NASDAQ:PHLT) is anticipated to issue its results before the market opens on Wednesday, November 5th. Analysts expect the company to announce earnings of ($0.02) per share and revenue of $32.90 million for the quarter.

Performant Healthcare (NASDAQ:PHLT) last released its quarterly earnings data on Tuesday, March 15th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $40.04 million for the quarter. Performant Healthcare had a negative net margin of 0.64% and a negative return on equity of 0.04%. On average, analysts expect Performant Healthcare to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Performant Healthcare Stock Performance

Shares of NASDAQ:PHLT opened at $7.75 on Wednesday. The company has a market capitalization of $623.41 million, a price-to-earnings ratio of -775.00 and a beta of 0.69. Performant Healthcare has a 52 week low of $2.17 and a 52 week high of $7.76. The company has a quick ratio of 2.64, a current ratio of 2.64 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $7.69 and a 200 day moving average of $5.15.

Analyst Ratings Changes

PHLT has been the subject of a number of analyst reports. Citizens Jmp cut Performant Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 1st. Lake Street Capital downgraded shares of Performant Healthcare from a “buy” rating to a “hold” rating and set a $7.75 target price for the company. in a report on Monday, August 4th. Wall Street Zen lowered shares of Performant Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. JMP Securities initiated coverage on shares of Performant Healthcare in a report on Thursday, July 10th. They issued a “market outperform” rating and a $8.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Performant Healthcare in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Performant Healthcare has a consensus rating of “Hold” and a consensus target price of $7.88.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC acquired a new stake in shares of Performant Healthcare during the second quarter worth $774,000. JPMorgan Chase & Co. purchased a new position in Performant Healthcare in the 2nd quarter worth $721,000. Rhumbline Advisers purchased a new position in Performant Healthcare in the 2nd quarter worth $418,000. Bank of America Corp DE acquired a new stake in Performant Healthcare during the 2nd quarter worth about $347,000. Finally, Jane Street Group LLC purchased a new stake in Performant Healthcare during the 2nd quarter valued at about $167,000. Institutional investors and hedge funds own 77.15% of the company’s stock.

Performant Healthcare Company Profile

Performant Healthcare, Inc engages in the provision of technology-enabled audit, recovery, customer care, and related analytics services. Its services help identify improper payments, and in some markets, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients.