William Blair Analysts Decrease Earnings Estimates for Cross Country Healthcare, Inc. (NASDAQ:CCRN)

Cross Country Healthcare, Inc. (NASDAQ:CCRN) – Research analysts at William Blair lowered their Q3 2024 earnings estimates for shares of Cross Country Healthcare in a report released on Thursday, August 1st. William Blair analyst T. Romeo now anticipates that the business services provider will post earnings per share of $0.10 for the quarter, down from their previous forecast of $0.19. The consensus estimate for Cross Country Healthcare’s current full-year earnings is $0.68 per share. William Blair also issued estimates for Cross Country Healthcare’s Q4 2024 earnings at $0.14 EPS, FY2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.14 EPS, Q2 2025 earnings at $0.16 EPS, Q3 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.23 EPS.

CCRN has been the topic of several other reports. Barrington Research reduced their target price on Cross Country Healthcare from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Monday, May 6th. Truist Financial upped 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 note on Thursday. Finally, Benchmark dropped their target price on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.00.

Cross Country Healthcare Price Performance

Shares of Cross Country Healthcare stock opened at $17.11 on Friday. The firm has a market capitalization of $594.91 million, a P/E ratio of 13.16, a P/E/G ratio of 2.57 and a beta of 0.63. The company’s 50 day moving average price is $14.76 and its two-hundred day moving average price is $17.01. Cross Country Healthcare has a fifty-two week low of $12.87 and a fifty-two week high of $26.17.

Cross Country Healthcare (NASDAQ:CCRN) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $339.77 million for the quarter, compared to analyst estimates of $334.75 million. Cross Country Healthcare had a net margin of 0.54% and a return on equity of 7.29%. The firm’s revenue for the quarter was down 37.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share.

Hedge Funds Weigh In On Cross Country Healthcare

A number of hedge funds have recently bought and sold shares of CCRN. GAMMA Investing LLC purchased a new position in Cross Country Healthcare during the fourth quarter worth about $28,000. Gladius Capital Management LP grew its holdings in shares of Cross Country Healthcare by 37.1% in the fourth quarter. Gladius Capital Management LP now owns 1,902 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 515 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Cross Country Healthcare during the second quarter valued at approximately $50,000. Denali Advisors LLC lifted its holdings in Cross Country Healthcare by 3,885.5% during the first quarter. Denali Advisors LLC now owns 5,500 shares of the business services provider’s stock worth $103,000 after acquiring an additional 5,362 shares during the period. Finally, EMC Capital Management purchased a new position in Cross Country Healthcare in the first quarter worth $155,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cross Country Healthcare news, insider Marc S. Krug sold 13,657 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 36,020 shares of the company’s stock, valued at $533,816.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Phillip Lyn Noe sold 9,646 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was 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 directly owns 10,162 shares of the company’s stock, valued at $144,198.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Marc S. Krug sold 13,657 shares of Cross Country Healthcare stock in a transaction that occurred 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 transaction, the insider now directly owns 36,020 shares in the company, valued at approximately $533,816.40. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.

About Cross Country Healthcare

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.