Cross Country Healthcare Analysts Recommend “Hold” for Stock
Cross Country Healthcare, Inc. (NASDAQ: CCRN) has received a consensus recommendation of “Hold” from six analysts currently monitoring the stock, according to MarketBeat Ratings. The average twelve-month price target set by these analysts stands at $17.93, reflecting their outlook on the company’s future performance.
Several research firms have recently commented on Cross Country Healthcare’s stock. Notably, Wall Street Zen upgraded its rating to “Hold” on August 9, 2023. Barrington Research also reaffirmed its “Market Perform” rating while establishing a target price of $18.61 on June 17, 2023. These evaluations come in light of the company’s recent financial performance and market dynamics.
Despite the analysts’ cautious optimism, shares of Cross Country Healthcare experienced a decline of 1.8%, opening at $13.13 on the trading day. Over the past year, the stock has fluctuated significantly, with a low of $9.58 and a high of $18.33. The company currently holds a market capitalization of $430.17 million and has a price-to-earnings ratio of -50.50, indicating challenges in profitability.
Recent Financial Results and Market Response
Cross Country Healthcare reported its latest earnings results on August 6, 2023. The company posted earnings per share (EPS) of ($0.01), falling short of the consensus estimate of $0.07 by $0.08. Additionally, the firm recorded revenue of $274.07 million for the quarter, which was below analysts’ expectations of $292.67 million. The negative net margin of 0.70% and a modest return on equity of 1.72% highlight ongoing operational challenges.
Looking ahead, analysts project that Cross Country Healthcare will achieve an EPS of 0.53 for the current fiscal year, indicating a potential recovery. The company specializes in providing talent management and consultative services to healthcare clients across the United States.
About Cross Country Healthcare
Cross Country Healthcare, Inc. offers a variety of services, including staffing and recruitment solutions for healthcare professionals. Its Nurse and Allied Staffing segment focuses on both temporary and permanent placements of nurses and allied health professionals. The company also provides services related to vendor-neutral and managed staffing programs, education in healthcare, in-home care solutions, and outsourcing services.
As Cross Country Healthcare navigates through its current market conditions, analysts will continue to monitor its performance and provide insights into potential investment opportunities.
