Cross Country Healthcare (NASDAQ:CCRN) Updates Q2 Earnings Guidance

Cross Country Healthcare (NASDAQ:CCRN) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.10-0.20 for the period, compared to the consensus earnings per share estimate of $0.19. The company issued revenue guidance of $330-340 million, compared to the consensus revenue estimate of $362.62 million. Cross Country Healthcare also updated its Q2 2024 guidance to 0.100-0.200 EPS.

Analyst Ratings Changes

A number of analysts have commented on CCRN shares. Truist Financial lowered their target price on shares of Cross Country Healthcare from $22.00 to $16.00 and set a hold rating for the company in a report on Thursday, February 22nd. Barrington Research dropped their price objective on Cross Country Healthcare from $26.00 to $24.00 and set an outperform rating for the company in a report on Tuesday, February 27th. Benchmark reduced their target price on Cross Country Healthcare from $21.00 to $19.00 and set a buy rating on the stock in a report on Thursday. Finally, TheStreet cut Cross Country Healthcare from a b- rating to a c+ rating in a research note on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $21.33.

Cross Country Healthcare Stock Performance

NASDAQ CCRN traded down $0.07 during trading hours on Friday, reaching $16.67. 553,081 shares of the company’s stock were exchanged, compared to its average volume of 287,450. The company has a market capitalization of $578.12 million, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The company’s 50-day moving average is $17.92 and its two-hundred day moving average is $20.02. Cross Country Healthcare has a one year low of $15.65 and a one year high of $28.75.

Cross Country Healthcare (NASDAQ:CCRN) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. The company had revenue of $379.17 million during the quarter, compared to the consensus estimate of $374.38 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was down 39.1% compared to the same quarter last year. Research analysts predict that Cross Country Healthcare will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Cross Country Healthcare

In other news, insider Karen Mote sold 6,216 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total transaction of $105,361.20. Following the completion of the transaction, the insider now directly owns 35,101 shares of the company’s stock, valued at $594,961.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.