Encompass Health (NYSE:EHC) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Encompass Health (NYSE:EHC) announced its quarterly earnings results on Monday. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10, Briefing.com reports. Encompass Health had a net margin of 7.60% and a return on equity of 18.01%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Encompass Health updated its FY24 guidance to $3.97-$4.22 EPS.

Encompass Health Trading Up 1.2 %

Shares of NYSE:EHC traded up $1.01 during trading on Wednesday, hitting $85.69. 156,575 shares of the company’s stock were exchanged, compared to its average volume of 653,213. Encompass Health has a 1-year low of $57.55 and a 1-year high of $94.38. The firm has a 50-day moving average price of $86.45 and a two-hundred day moving average price of $81.34. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.14. The firm has a market cap of $8.63 billion, a P/E ratio of 22.90, a PEG ratio of 1.45 and a beta of 0.89.

Encompass Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.17 per share. This is a boost from Encompass Health’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.68 annualized dividend and a dividend yield of 0.79%. Encompass Health’s payout ratio is currently 18.38%.

Insider Transactions at Encompass Health

In other news, insider Elissa Joy Charbonneau sold 10,000 shares of Encompass Health stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $85.02, for a total transaction of $850,200.00. Following the completion of the sale, the insider now owns 18,594 shares in the company, valued at approximately $1,580,861.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EHC has been the subject of several analyst reports. SVB Leerink initiated coverage on shares of Encompass Health in a report on Wednesday, July 10th. They set an “outperform” rating and a $100.00 price target for the company. Raymond James reaffirmed a “strong-buy” rating and issued a $95.00 target price (up from $85.00) on shares of Encompass Health in a research note on Friday, April 26th. Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Encompass Health in a research note on Tuesday. Mizuho boosted their target price on shares of Encompass Health from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Leerink Partnrs raised shares of Encompass Health to a “strong-buy” rating in a research note on Wednesday, July 10th. Eight equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $99.86.

About Encompass Health

Encompass Health Corporation provides post-acute healthcare services in the United States and Puerto Rico. It owns and operates inpatient rehabilitation hospitals that provide medical, nursing, therapy, and ancillary services. The company provides specialized rehabilitative treatment on an inpatient basis to patients who have experienced physical or cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, and various debilitating neurological conditions.