Concentra Group Holdings Parent (NYSE:CON) Reaches New 12-Month High After Earnings Beat

Key Points

• Concentra Group Holdings Parent beat quarterly expectations: The company reported $0.52 in EPS versus the $0.42 consensus estimate and revenue of $606.03 million, up 10% year over year. Shares reached a new 52-week high of $34.81.
• Analysts remain broadly positive: Seven analysts rate the stock Buy and one rates it Hold, resulting in a Moderate Buy consensus; Truist raised its price target to $37.
• The company declared a quarterly dividend of $0.0625 per share, equivalent to $0.25 annually and a 0.7% yield, while insiders have sold 390,000 shares worth $11.35 million over the past 90 days.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report) hit a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $34.81 and last traded at $33.6940, with a volume of 82196 shares trading hands. The stock had previously closed at $30.54.

The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The company had revenue of $606.03 million during the quarter, compared to the consensus estimate of $591.75 million. During the same period in the prior year, the firm earned $0.37 earnings per share. Concentra Group Holdings Parent's revenue was up 10.0% on a year-over-year basis.

Concentra Group Holdings Parent Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.0625 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. Concentra Group Holdings Parent's dividend payout ratio is 17.99%.

Analysts Set New Price Targets

CON has been the topic of several research reports. Weiss Ratings upgraded Concentra Group Holdings Parent from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. The Goldman Sachs Group started coverage on Concentra Group Holdings Parent in a report on Friday, June 5th. They issued a "buy" rating and a $30.00 price objective for the company. William Blair began coverage on Concentra Group Holdings Parent in a research report on Wednesday, July 1st. They set an "outperform" rating for the company. Finally, Truist Financial boosted their target price on shares of Concentra Group Holdings Parent from $31.00 to $37.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.40.

Insider Buying and Selling at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of Concentra Group Holdings Parent stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $31.84, for a total transaction of $4,139,200.00. Following the completion of the transaction, the director directly owned 503,455 shares in the company, valued at approximately $16,030,007.20. This trade represents a 20.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 390,000 shares of company stock worth $11,354,200 over the last ninety days. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of Concentra Group Holdings Parent

Several hedge funds and other institutional investors have recently made changes to their positions in CON. EverSource Wealth Advisors LLC raised its stake in Concentra Group Holdings Parent by 124.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,195 shares of the company's stock valued at $25,000 after buying an additional 663 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Concentra Group Holdings Parent by 2,784.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,442 shares of the company's stock worth $30,000 after acquiring an additional 1,392 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Concentra Group Holdings Parent by 49.1% during the third quarter. Public Employees Retirement System of Ohio now owns 1,604 shares of the company's stock valued at $34,000 after acquiring an additional 528 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Concentra Group Holdings Parent during the fourth quarter valued at $35,000. Finally, Osaic Holdings Inc. raised its position in shares of Concentra Group Holdings Parent by 59.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,041 shares of the company's stock worth $42,000 after purchasing an additional 761 shares during the last quarter.

Concentra Group Holdings Parent Trading Up 12.8%

The stock has a market cap of $4.41 billion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.40 and a beta of 0.62. The firm has a 50-day moving average price of $29.62 and a 200-day moving average price of $25.36. The company has a debt-to-equity ratio of 3.62, a quick ratio of 1.26 and a current ratio of 1.26.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent NYSE: CON is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.

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