Acadia Healthcare (NASDAQ:ACHC) Releases Earnings Results, Beats Expectations By $0.04 EPS

Acadia Healthcare (NASDAQ:ACHC - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.04, Briefing.com reports. The firm had revenue of $768.10 million for the quarter, compared to analysts' expectations of $779.20 million. Acadia Healthcare had a negative net margin of 0.74% and a positive return on equity of 11.21%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the company posted $0.75 EPS. Acadia Healthcare updated its FY24 guidance to $3.40-3.70 EPS and its FY 2024 guidance to 3.400-3.700 EPS.

Acadia Healthcare Stock Down 8.6 %

Acadia Healthcare stock traded down $6.26 during trading hours on Thursday, hitting $66.73. The stock had a trading volume of 2,802,918 shares, compared to its average volume of 597,348. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.17 billion, a P/E ratio of -269.63, a price-to-earnings-growth ratio of 2.18 and a beta of 1.31. Acadia Healthcare has a 12-month low of $66.39 and a 12-month high of $87.77. The stock's 50-day moving average price is $77.49 and its 200-day moving average price is $77.68.

Insiders Place Their Bets

In other Acadia Healthcare news, Director Wade D. Miquelon sold 2,203 shares of Acadia Healthcare stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.39, for a total value of $188,114.17. Following the completion of the transaction, the director now directly owns 46,074 shares of the company's stock, valued at $3,934,258.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

Analyst Ratings Changes

ACHC has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $90.00 target price on shares of Acadia Healthcare in a research report on Tuesday, March 5th. TD Cowen lifted their target price on shares of Acadia Healthcare from $86.00 to $101.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Stephens raised shares of Acadia Healthcare from an "equal weight" rating to an "overweight" rating and set a $92.00 target price on the stock in a research note on Friday, January 5th. TheStreet raised shares of Acadia Healthcare from a "c" rating to a "b-" rating in a research note on Monday, March 4th. Finally, Barclays dropped their price objective on shares of Acadia Healthcare from $100.00 to $91.00 and set an "overweight" rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.90.

Acadia Healthcare Company Profile

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty treatment facilities comprising residential recovery facilities and eating disorder facilities, comprehensive treatment centers, and residential treatment centers, as well as facilities offering outpatient behavioral healthcare services for the behavioral healthcare and recovery needs of communities.