Zacks: Analysts Expect CareMax, Inc. (NASDAQ:CMAX) Will Announce Quarterly Sales of $112.52 Million

Equities research analysts expect CareMax, Inc. (NASDAQ:CMAX) to announce sales of $112.52 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for CareMax’s earnings, with the highest sales estimate coming in at $123.91 million and the lowest estimate coming in at $101.12 million. The company is expected to announce its next earnings report on Friday, November 12th.

According to Zacks, analysts expect that CareMax will report full year sales of $437.38 million for the current financial year, with estimates ranging from $420.42 million to $454.33 million. For the next year, analysts expect that the company will post sales of $640.79 million, with estimates ranging from $631.38 million to $650.19 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for CareMax.

CareMax (NASDAQ:CMAX) last posted its quarterly earnings results on Thursday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.22). The business had revenue of $44.92 million during the quarter, compared to the consensus estimate of $114.54 million.

Several research firms have commented on CMAX. Cowen started coverage on shares of CareMax in a research note on Thursday, September 9th. They issued an “outperform” rating and a $14.00 target price for the company. Piper Sandler upgraded shares of CareMax from a “neutral” rating to an “overweight” rating and set a $14.00 price objective on the stock in a report on Monday, September 13th. Finally, Zacks Investment Research lowered shares of CareMax from a “hold” rating to a “sell” rating in a research note on Wednesday, September 15th.

NASDAQ:CMAX traded up $0.71 during mid-day trading on Monday, reaching $8.79. The stock had a trading volume of 5,188 shares, compared to its average volume of 656,594. The company has a quick ratio of 7.96, a current ratio of 7.96 and a debt-to-equity ratio of 0.25. CareMax has a twelve month low of $6.53 and a twelve month high of $18.42. The firm’s 50 day moving average price is $8.86.

Institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC bought a new position in shares of CareMax during the 2nd quarter worth about $61,000. FNY Investment Advisers LLC acquired a new position in CareMax during the third quarter valued at approximately $82,000. Clearbridge Investments LLC acquired a new position in CareMax during the second quarter valued at approximately $349,000. LPL Financial LLC bought a new position in CareMax in the second quarter valued at approximately $351,000. Finally, Geode Capital Management LLC bought a new position in CareMax in the second quarter valued at approximately $502,000.

CareMax Company Profile

CareMax Medical Group, LLC operates as a health care organization that offers medical services through physicians and health care professionals. The company offers primary care, specialty care, telemedicine, health and wellness, optometry, dental, and transportation services. CareMax Medical Group, LLC was founded in 2011 and is based in Miami, Florida.

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Earnings History and Estimates for CareMax (NASDAQ:CMAX)

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