Cross Country Healthcare (NASDAQ:CCRN) Announces Quarterly Earnings Results

Cross Country Healthcare (NASDAQ:CCRN) issued its quarterly earnings data on Wednesday. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04), Briefing.com reports. Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The firm had revenue of $339.77 million during the quarter, compared to analyst estimates of $334.75 million. During the same period last year, the business earned $0.69 EPS. The firm’s revenue was down 37.2% compared to the same quarter last year. Cross Country Healthcare updated its Q3 guidance to $0.08-0.12 EPS and its Q3 2024 guidance to 0.080-0.120 EPS.

Cross Country Healthcare Trading Down 2.5 %

Cross Country Healthcare stock traded down $0.44 during mid-day trading on Friday, reaching $17.11. The company’s stock had a trading volume of 593,035 shares, compared to its average volume of 408,566. The firm has a market cap of $594.91 million, a price-to-earnings ratio of 13.16, a PEG ratio of 2.57 and a beta of 0.63. The business has a 50 day moving average price of $14.76 and a 200-day moving average price of $17.04. Cross Country Healthcare has a twelve month low of $12.87 and a twelve month high of $26.17.

Analyst Ratings Changes

Several analysts have issued reports on CCRN shares. Truist Financial increased their price objective on shares of Cross Country Healthcare from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Thursday. Benchmark decreased their price target 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, Barrington Research decreased their price target on shares of Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.00.

Insiders Place Their Bets

In other Cross Country Healthcare news, insider Marc S. Krug sold 13,657 shares of Cross Country Healthcare stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $14.82, for a total value of $202,396.74. Following the completion of the transaction, the insider now owns 36,020 shares of the company’s stock, valued at $533,816.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cross Country Healthcare news, insider Marc S. Krug sold 13,657 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $14.82, for a total value of $202,396.74. Following the sale, the insider now directly owns 36,020 shares in the company, valued at $533,816.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Phillip Lyn Noe sold 9,646 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $14.19, for a total value of $136,876.74. Following the completion of the sale, the insider now owns 10,162 shares in the company, valued at $144,198.78. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

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.