Brokers Set Expectations for Addus HomeCare Co.’s Q3 2022 Earnings (NASDAQ:ADUS)

Addus HomeCare Co. (NASDAQ:ADUSGet Rating) – Investment analysts at William Blair raised their Q3 2022 earnings estimates for Addus HomeCare in a research report issued to clients and investors on Tuesday, August 2nd. William Blair analyst M. Larew now expects that the company will earn $0.87 per share for the quarter, up from their prior estimate of $0.84. The consensus estimate for Addus HomeCare’s current full-year earnings is $3.19 per share. William Blair also issued estimates for Addus HomeCare’s FY2022 earnings at $3.22 EPS, Q1 2023 earnings at $0.96 EPS, Q2 2023 earnings at $0.80 EPS, Q3 2023 earnings at $0.97 EPS, Q4 2023 earnings at $0.91 EPS and FY2023 earnings at $3.63 EPS.

Other analysts have also recently issued research reports about the stock. Bank of America began coverage on shares of Addus HomeCare in a report on Wednesday, April 13th. They issued a “buy” rating and a $110.00 price objective on the stock. Stephens dropped their price objective on shares of Addus HomeCare from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Tuesday, June 21st. Royal Bank of Canada dropped their price objective on shares of Addus HomeCare from $111.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus began coverage on shares of Addus HomeCare in a research report on Tuesday, June 28th. They issued a “buy” rating and a $101.00 target price for the company. Finally, Oppenheimer decreased their target price on shares of Addus HomeCare from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Addus HomeCare presently has an average rating of “Buy” and an average target price of $110.40.

Addus HomeCare Stock Up 0.7 %

ADUS stock opened at $93.36 on Friday. The company has a quick ratio of 2.65, a current ratio of 2.00 and a debt-to-equity ratio of 0.33. Addus HomeCare has a fifty-two week low of $68.57 and a fifty-two week high of $108.11. The firm’s 50-day simple moving average is $86.16 and its 200 day simple moving average is $83.27. The stock has a market cap of $1.50 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85.

Addus HomeCare (NASDAQ:ADUSGet Rating) last issued its earnings results on Monday, August 1st. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The business had revenue of $236.94 million for the quarter, compared to analyst estimates of $238.40 million. Addus HomeCare had a return on equity of 8.63% and a net margin of 4.90%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share.

Insider Activity

In other news, EVP David W. Tucker sold 2,080 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $90.00, for a total transaction of $187,200.00. Following the completion of the transaction, the executive vice president now owns 8,468 shares in the company, valued at approximately $762,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Addus HomeCare news, EVP Michael D. Wattenbarger sold 1,718 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $85.00, for a total transaction of $146,030.00. Following the completion of the sale, the executive vice president now directly owns 7,012 shares of the company’s stock, valued at $596,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David W. Tucker sold 2,080 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $90.00, for a total transaction of $187,200.00. Following the sale, the executive vice president now directly owns 8,468 shares of the company’s stock, valued at $762,120. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,940 shares of company stock worth $344,102. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Addus HomeCare

A number of hedge funds have recently made changes to their positions in ADUS. Silvercrest Asset Management Group LLC lifted its position in shares of Addus HomeCare by 570.1% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 770,538 shares of the company’s stock worth $71,648,000 after purchasing an additional 655,548 shares in the last quarter. Eaton Vance Management raised its position in Addus HomeCare by 20.9% during the first quarter. Eaton Vance Management now owns 754,080 shares of the company’s stock valued at $70,348,000 after acquiring an additional 130,469 shares in the last quarter. Ziegler Capital Management LLC bought a new position in Addus HomeCare during the second quarter valued at approximately $7,539,000. Allspring Global Investments Holdings LLC bought a new position in Addus HomeCare during the fourth quarter valued at approximately $6,765,000. Finally, Tributary Capital Management LLC acquired a new position in Addus HomeCare during the second quarter valued at approximately $4,754,000. 96.04% of the stock is owned by hedge funds and other institutional investors.

Addus HomeCare Company Profile

(Get Rating)

Addus HomeCare Corporation, together with its subsidiaries, provides personal care services to elderly, chronically ill, disabled persons, and individuals who are at risk of hospitalization or institutionalization in the United States. It operates through three segments: Personal Care, Hospice, and Home Health.

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Earnings History and Estimates for Addus HomeCare (NASDAQ:ADUS)

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