Cross Country Healthcare (NASDAQ:CCRN) Posts Earnings Results, Beats Estimates By $0.02 EPS

Cross Country Healthcare (NASDAQ:CCRN - Get Free Report) released its quarterly earnings results on Wednesday. The business services provider reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.02, Briefing.com reports. The business had revenue of $379.17 million during the quarter, compared to analyst estimates of $374.38 million. Cross Country Healthcare had a return on equity of 16.93% and a net margin of 3.60%. Cross Country Healthcare's quarterly revenue was down 39.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. Cross Country Healthcare updated its Q2 guidance to $0.10-0.20 EPS and its Q2 2024 guidance to 0.100-0.200 EPS.

Cross Country Healthcare Price Performance

Shares of NASDAQ:CCRN traded down $1.16 on Thursday, hitting $16.74. The company's stock had a trading volume of 1,107,072 shares, compared to its average volume of 451,103. The company has a 50-day simple moving average of $17.94 and a 200 day simple moving average of $20.10. Cross Country Healthcare has a 1 year low of $15.65 and a 1 year high of $28.75. The company has a market capitalization of $580.54 million, a PE ratio of 8.64, a PEG ratio of 1.91 and a beta of 0.77.

Insider Buying and Selling at Cross Country Healthcare

In other Cross Country Healthcare news, insider Karen Mote sold 6,216 shares of the firm's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.95, for a total value of $105,361.20. Following the sale, the insider now owns 35,101 shares of the company's stock, valued at approximately $594,961.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.90% of the company's stock.

Analysts Set New Price Targets

CCRN has been the subject of a number of analyst reports. Truist Financial lowered their price target on Cross Country Healthcare from $22.00 to $16.00 and set a "hold" rating for the company in a research report on Thursday, February 22nd. Benchmark decreased their target price on Cross Country Healthcare from $21.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday. TheStreet lowered Cross Country Healthcare from a "b-" rating to a "c+" rating in a research report on Friday, March 1st. Finally, Barrington Research decreased their target price on Cross Country Healthcare from $26.00 to $24.00 and set an "outperform" rating for the company in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.33.

Cross Country Healthcare Company Profile

Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company's Nurse and Allied Staffing segment provides traditional staffing, recruiting, and value-added total talent solutions, including temporary and permanent placement of travel and local nurse and, allied professionals; temporary placement of healthcare leaders within nursing, allied, physician, and human resources; vendor neutral and managed services programs; education healthcare services; in-home care services; and outsourcing services.