PACS Group (NYSE:PACS) Issues Earnings Results

PACS Group (NYSE:PACS) released its quarterly earnings data on Monday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.42), Briefing.com reports. The firm had revenue of $981.80 million during the quarter, compared to the consensus estimate of $919.22 million. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. PACS Group updated its FY 2024 guidance to EPS.

PACS Group Stock Down 0.9 %

PACS Group stock traded down $0.33 during midday trading on Wednesday, reaching $38.10. The stock had a trading volume of 7,767 shares, compared to its average volume of 468,254. The company has a debt-to-equity ratio of 5.75, a quick ratio of 1.56 and a current ratio of 1.56. PACS Group has a 1-year low of $22.61 and a 1-year high of $38.82. The company’s fifty day moving average is $31.59.

Analyst Ratings Changes

PACS has been the topic of several recent analyst reports. Citigroup boosted their price target on PACS Group from $34.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens boosted their target price on shares of PACS Group from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada increased their target price on shares of PACS Group from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Macquarie began coverage on shares of PACS Group in a research note on Friday, June 28th. They set an “outperform” rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on PACS Group in a research note on Monday, May 6th. They issued an “overweight” rating and a $27.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $35.86.

About PACS Group

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.