The Pennant Group (NASDAQ:PNTG) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

The Pennant Group (NASDAQ:PNTG) issued its earnings results on Wednesday. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01), FiscalAI reports. The business had revenue of $302.25 million for the quarter, compared to the consensus estimate of $299.34 million. The Pennant Group had a return on equity of 10.33% and a net margin of 2.93%.

The Pennant Group Trading Up 6.9%

Shares of The Pennant Group stock traded up $2.85 during trading on Wednesday, hitting $44.04. The stock had a trading volume of 370,000 shares, compared to its average volume of 295,684. The Pennant Group has a 1 year low of $22.25 and a 1 year high of $44.24. The stock has a 50 day simple moving average of $40.15 and a 200 day simple moving average of $35.61. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $1.54 billion, a PE ratio of 48.93, a P/E/G ratio of 2.64 and a beta of 1.33.

Analysts Set New Price Targets

A number of brokerages have recently commented on PNTG. Royal Bank Of Canada increased their price objective on The Pennant Group from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Weiss Ratings upgraded The Pennant Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Truist Financial lifted their target price on The Pennant Group from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their target price on The Pennant Group from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

The Pennant Group Company Profile

The Pennant Group, Inc is a healthcare services company that operates home health, hospice and senior living businesses in the United States. Through its affiliated agencies and communities, the company provides skilled nursing, physical, occupational and speech therapy, personal care, hospice and palliative services, assisted living, and other support for older adults and individuals recovering from illness or injury.

Pennant’s home health and hospice operations serve patients in their homes and other residential settings, while its senior living segment operates communities that provide assisted living and related services.