Cross Country Healthcare (NASDAQ:CCRN) Issues Earnings Results

Cross Country Healthcare (NASDAQ:CCRN) announced its quarterly earnings results on Wednesday. The business services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02, Briefing.com reports. Cross Country Healthcare had a return on equity of 16.93% and a net margin of 3.60%. The firm had revenue of $379.17 million for the quarter, compared to analysts’ expectations of $374.38 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s revenue was down 39.1% on a year-over-year basis. Cross Country Healthcare updated its Q2 guidance to $0.10-0.20 EPS and its Q2 2024 guidance to 0.100-0.200 EPS.

Cross Country Healthcare Stock Performance

NASDAQ:CCRN traded down $1.16 during mid-day trading on Thursday, reaching $16.74. The stock had a trading volume of 1,107,072 shares, compared to its average volume of 451,103. The stock has a market capitalization of $580.54 million, a P/E ratio of 8.64, a P/E/G ratio of 1.91 and a beta of 0.77. The firm has a 50 day moving average price of $17.94 and a two-hundred day moving average price of $20.10. Cross Country Healthcare has a one year low of $15.65 and a one year high of $28.75.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CCRN. Truist Financial decreased 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. Barrington Research lowered their price objective on Cross Country Healthcare from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. TheStreet cut Cross Country Healthcare from a “b-” rating to a “c+” rating in a research report on Friday, March 1st. Finally, Benchmark decreased their target price on Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday. 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.com, Cross Country Healthcare presently has an average rating of “Hold” and an average target price of $21.33.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 in the company, valued at approximately $594,961.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.

Cross Country Healthcare Company Profile

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.