Cross Country Healthcare, Inc. Expected to Earn Q3 2024 Earnings of $0.15 Per Share (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Analysts at Barrington Research cut their Q3 2024 earnings estimates for shares of Cross Country Healthcare in a research report issued on Monday, May 6th. Barrington Research analyst K. Steinke now expects that the business services provider will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.26. Barrington Research has a “Outperform” rating and a $21.00 price objective on the stock. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.77 per share. Barrington Research also issued estimates for Cross Country Healthcare’s Q4 2024 earnings at $0.21 EPS, FY2024 earnings at $0.70 EPS and FY2025 earnings at $1.07 EPS.

A number of other research firms also recently weighed in on CCRN. TheStreet downgraded shares of Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Benchmark decreased their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, Truist Financial dropped their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.83.

Cross Country Healthcare Trading Up 0.2 %

Shares of CCRN stock opened at $16.47 on Thursday. The stock has a 50-day moving average of $17.82 and a 200-day moving average of $19.88. The stock has a market cap of $572.73 million, a price-to-earnings ratio of 12.67, a PEG ratio of 2.17 and a beta of 0.77. Cross Country Healthcare has a 1-year low of $15.65 and a 1-year high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $379.17 million during the quarter, compared to the consensus estimate of $374.38 million. Cross Country Healthcare had a return on equity of 11.69% and a net margin of 2.58%. Cross Country Healthcare’s quarterly revenue was down 39.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share.

Hedge Funds Weigh In On Cross Country Healthcare

Several large investors have recently added to or reduced their stakes in CCRN. GAMMA Investing LLC purchased a new stake in shares of Cross Country Healthcare in the fourth quarter worth approximately $28,000. Gladius Capital Management LP grew its holdings in Cross Country Healthcare by 37.1% during the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock worth $43,000 after buying an additional 515 shares in the last quarter. Denali Advisors LLC raised its position in Cross Country Healthcare by 3,885.5% in the 1st quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock valued at $103,000 after buying an additional 5,362 shares during the last quarter. Aigen Investment Management LP bought a new position in Cross Country Healthcare during the 3rd quarter valued at $219,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Cross Country Healthcare by 212.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,089 shares of the business services provider’s stock worth $226,000 after acquiring an additional 8,225 shares during the last quarter. Institutional investors own 96.03% of the company’s stock.

Insider Activity at Cross Country Healthcare

In related news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total value of $105,361.20. Following the completion of the sale, the insider now directly owns 35,101 shares of the company’s stock, valued at approximately $594,961.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.90% of the stock is owned by corporate insiders.

About Cross Country Healthcare

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.