Joint (NASDAQ:JYNT - Get Free Report) declared that its Board of Directors has approved a share repurchase plan on Thursday, June 5th, RTT News reports. The company plans to repurchase $5.00 million in shares. This repurchase authorization permits the company to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.
Joint Stock Performance
JYNT traded down $0.30 during midday trading on Friday, reaching $12.01. 52,055 shares of the company were exchanged, compared to its average volume of 53,920. The stock has a market capitalization of $183.79 million, a P/E ratio of -10.54 and a beta of 1.48. The stock's 50-day simple moving average is $10.34 and its 200 day simple moving average is $10.91. Joint has a one year low of $9.58 and a one year high of $15.32.
Joint (NASDAQ:JYNT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The firm had revenue of $13.08 million during the quarter, compared to analyst estimates of $13.02 million. Joint had a negative net margin of 13.95% and a positive return on equity of 8.24%. On average, research analysts anticipate that Joint will post 0.11 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages recently commented on JYNT. Wall Street Zen lowered Joint from a "buy" rating to a "hold" rating in a research note on Monday, March 17th. Lake Street Capital decreased their price target on Joint from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, May 9th.
Check Out Our Latest Research Report on Joint
Joint Company Profile
(
Get Free Report)
The Joint Corp. operates and franchises chiropractic clinics in the United States. The company operates in two segments, Corporate Clinics and Franchise Operations. The Joint Corp. was incorporated in 2010 and is headquartered in Scottsdale, Arizona.
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