Concentra Group Holdings Parent (NYSE:CON) Shares Gap Up After Strong Earnings

Concentra Group Holdings Parent, Inc. (NYSE:CON)’s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $18.71, but opened at $19.88. Concentra Group Holdings Parent shares last traded at $19.96, with a volume of 1,039,722 shares changing hands.

The company reported $0.37 EPS for the quarter. Concentra Group Holdings Parent had a net margin of 7.44% and a return on equity of 50.84%. The firm had revenue of $489.64 million during the quarter.

Concentra Group Holdings Parent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, December 2nd will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, December 2nd. Concentra Group Holdings Parent’s dividend payout ratio is presently 21.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. started coverage on Concentra Group Holdings Parent in a research report on Thursday, September 18th. They issued an “overweight” rating and a $31.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Concentra Group Holdings Parent in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.75.

Institutional Trading of Concentra Group Holdings Parent

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its stake in shares of Concentra Group Holdings Parent by 80.6% during the 3rd quarter. Versant Capital Management Inc now owns 1,190 shares of the company’s stock valued at $25,000 after buying an additional 531 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Concentra Group Holdings Parent by 124.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company’s stock worth $25,000 after purchasing an additional 663 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Concentra Group Holdings Parent by 48,400.0% during the 2nd quarter. MAI Capital Management now owns 1,940 shares of the company’s stock worth $40,000 after buying an additional 1,936 shares during the period. Osaic Holdings Inc. increased its position in Concentra Group Holdings Parent by 59.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company’s stock worth $42,000 after buying an additional 761 shares during the period. Finally, CWM LLC raised its holdings in Concentra Group Holdings Parent by 32.5% in the 2nd quarter. CWM LLC now owns 2,148 shares of the company’s stock valued at $44,000 after acquiring an additional 527 shares in the last quarter.

Concentra Group Holdings Parent Price Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 4.75. The company has a fifty day moving average price of $21.02 and a two-hundred day moving average price of $21.19. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.74.

Concentra Group Holdings Parent Company Profile

Concentra Group Holdings Parent, Inc provides occupational health services in the United States. The company offers occupational and consumer health services, including workers’ compensation injury care, urgent care, clinical testing, preventative care, and employer services, as well as wellness programs through occupational health centers and onsite clinics.