Progyny (NASDAQ:PGNY) Announces Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Progyny (NASDAQ:PGNY) released its earnings results on Tuesday. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.26), Briefing.com reports. Progyny had a return on equity of 10.87% and a net margin of 5.03%. The firm had revenue of $286.63 million for the quarter, compared to analyst estimates of $296.85 million. During the same period in the previous year, the firm earned $0.16 earnings per share. Progyny’s revenue was up 2.0% on a year-over-year basis.

Progyny Trading Down 19.1 %

Shares of Progyny stock opened at $13.90 on Thursday. Progyny has a 1 year low of $13.77 and a 1 year high of $42.08. The company has a market cap of $1.25 billion, a P/E ratio of 23.97, a P/E/G ratio of 1.62 and a beta of 1.44. The stock has a 50-day moving average price of $17.69 and a 200 day moving average price of $23.56.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, September 19th. Bank of America reduced their target price on shares of Progyny from $22.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. BTIG Research lowered Progyny from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group decreased their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Progyny has an average rating of “Hold” and an average target price of $25.42.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.