B. Riley Weighs in on The Joint Corp.'s Q2 2024 Earnings (NASDAQ:JYNT)

The Joint Corp. (NASDAQ:JYNT - Free Report) - Stock analysts at B. Riley upped their Q2 2024 earnings per share (EPS) estimates for Joint in a research report issued on Monday, May 6th. B. Riley analyst J. Van. Sinderen now expects that the company will post earnings of ($0.04) per share for the quarter, up from their previous estimate of ($0.05). B. Riley currently has a "Buy" rating and a $20.00 target price on the stock. The consensus estimate for Joint's current full-year earnings is $0.13 per share. B. Riley also issued estimates for Joint's FY2024 earnings at $0.06 EPS and FY2025 earnings at $0.58 EPS.

Other research analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Joint from a "hold" rating to a "buy" rating in a research report on Monday. TheStreet lowered shares of Joint from a "c-" rating to a "d" rating in a report on Thursday, March 7th. Finally, Roth Mkm reissued a "buy" rating and issued a $16.00 price target (up from $13.00) on shares of Joint in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Joint Stock Down 1.2 %

Shares of Joint stock traded down $0.20 during trading on Wednesday, hitting $15.93. 57,965 shares of the stock traded hands, compared to its average volume of 89,404. The stock has a market cap of $237.99 million, a price-to-earnings ratio of -21.51 and a beta of 1.58. Joint has a 52 week low of $7.31 and a 52 week high of $16.39. The firm's fifty day moving average is $12.30 and its 200-day moving average is $10.27.

Joint (NASDAQ:JYNT - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.04. The business had revenue of $30.61 million during the quarter, compared to analysts' expectations of $29.63 million. Joint had a negative net margin of 9.24% and a positive return on equity of 3.94%.

Hedge Funds Weigh In On Joint

A number of hedge funds have recently modified their holdings of the company. Quantbot Technologies LP lifted its stake in Joint by 345.0% in the third quarter. Quantbot Technologies LP now owns 4,170 shares of the company's stock worth $37,000 after acquiring an additional 3,233 shares during the period. Barclays PLC lifted its position in shares of Joint by 29.4% in the 3rd quarter. Barclays PLC now owns 13,725 shares of the company's stock worth $123,000 after purchasing an additional 3,119 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Joint by 43.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,506 shares of the company's stock valued at $148,000 after purchasing an additional 4,987 shares in the last quarter. Avondale Wealth Management increased its position in shares of Joint by 192.3% during the first quarter. Avondale Wealth Management now owns 19,000 shares of the company's stock valued at $248,000 after buying an additional 12,500 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in shares of Joint during the third quarter valued at about $179,000. Hedge funds and other institutional investors own 76.88% of the company's stock.

About Joint

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.