Cross Country Healthcare (NASDAQ:CCRN) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Cross Country Healthcare (NASDAQ:CCRN) posted its earnings results on Wednesday. The business services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04), Briefing.com reports. The company had revenue of $339.77 million during the quarter, compared to analyst estimates of $334.75 million. Cross Country Healthcare had a net margin of 2.58% and a return on equity of 11.69%. Cross Country Healthcare’s quarterly revenue was down 37.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. 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 Stock Down 3.8 %

CCRN stock traded down $0.69 during trading on Thursday, hitting $17.55. 723,293 shares of the company’s stock traded hands, compared to its average volume of 431,452. The stock has a market capitalization of $610.21 million, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 2.48 and a beta of 0.63. Cross Country Healthcare has a 52 week low of $12.87 and a 52 week high of $26.58. The stock has a fifty day moving average price of $14.64 and a two-hundred day moving average price of $17.07.

Analyst Ratings Changes

A number of research firms have recently issued reports on CCRN. Benchmark dropped their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Barrington Research decreased their price objective 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. Finally, Truist Financial lifted their target price on Cross Country Healthcare from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Thursday. 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, Cross Country Healthcare has a consensus rating of “Hold” and an average target price of $21.00.

Insider Transactions at Cross Country Healthcare

In related news, insider Marc S. Krug sold 13,657 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $14.82, for a total transaction of $202,396.74. Following the completion of the sale, the insider now owns 36,020 shares of the company’s stock, valued at approximately $533,816.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related 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 sale, the insider now owns 36,020 shares of the company’s stock, valued at approximately $533,816.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Phillip Lyn Noe sold 9,646 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 10,162 shares of the company’s stock, valued at approximately $144,198.78. The disclosure for this sale can be found here. 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.