Concentra Group Holdings Parent (NYSE:CON) Reaches New 52-Week High Following Earnings Beat

Key Points

• Earnings beat drove a new high: Concentra reported $0.40 EPS versus a $0.35 consensus and revenue of $569.6M (vs. $553.5M est.), sending the stock to a new 52-week high of $24.90.
• Dividend declared: the company announced a quarterly dividend of $0.0625 (annualized $0.25) payable June 9 to holders of record May 19, implying a yield of about 1.0% and a payout ratio near 19%.
• Analyst and institutional support: analysts have raised targets (RBC to $31, Wells Fargo to $28) leaving a consensus "Moderate Buy" with an average $30 target, while large funds like State Street, JPMorgan and Thrivent have recently increased stakes.

Concentra Group Holdings Parent, Inc. (NYSE:CON - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $24.90 and last traded at $24.25, with a volume of 416801 shares changing hands. The stock had previously closed at $23.60.

The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $569.56 million for the quarter, compared to the consensus estimate of $553.53 million. Concentra Group Holdings Parent had a net margin of 7.69% and a return on equity of 48.46%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS.

Concentra Group Holdings Parent Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, May 19th. Concentra Group Holdings Parent's dividend payout ratio (DPR) is currently 19.23%.

Wall Street Analyst Weigh In

CON has been the topic of several recent analyst reports. Royal Bank Of Canada raised their price target on shares of Concentra Group Holdings Parent from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, February 2nd. Wells Fargo & Company increased their target price on shares of Concentra Group Holdings Parent from $25.00 to $28.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Concentra Group Holdings Parent by 0.5% during the 4th quarter. State Street Corp now owns 4,446,551 shares of the company's stock worth $87,508,000 after acquiring an additional 22,442 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Concentra Group Holdings Parent by 13.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company's stock worth $81,089,000 after acquiring an additional 445,449 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Concentra Group Holdings Parent by 41.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,245,778 shares of the company's stock worth $67,934,000 after acquiring an additional 945,303 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Concentra Group Holdings Parent by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company's stock worth $66,645,000 after acquiring an additional 144,379 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Concentra Group Holdings Parent by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company's stock worth $56,130,000 after acquiring an additional 19,122 shares in the last quarter.

Concentra Group Holdings Parent Trading Up 3.8%

The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.14 and a current ratio of 1.14. The company's fifty day simple moving average is $22.41 and its 200-day simple moving average is $21.37. The company has a market capitalization of $3.15 billion, a P/E ratio of 18.81, a PEG ratio of 1.17 and a beta of 0.72.

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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