Brokerages expect Magellan Health, Inc. (NASDAQ:MGLN) to post earnings per share (EPS) of $0.42 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Magellan Health's earnings. Magellan Health reported earnings per share of ($0.38) during the same quarter last year, which would suggest a positive year-over-year growth rate of 210.5%. The firm is expected to announce its next earnings report on Friday, February 25th.
According to Zacks, analysts expect that Magellan Health will report full-year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $1.88 to $2.15. For the next year, analysts expect that the company will post earnings of $3.41 per share, with EPS estimates ranging from $3.10 to $3.72. Zacks Investment Research's earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Magellan Health.
Magellan Health (NASDAQ:MGLN) last released its quarterly earnings results on Friday, November 5th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.37 by ($0.34). Magellan Health had a net margin of 6.26% and a return on equity of 1.81%. The business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the previous year, the company earned $0.08 EPS. Magellan Health's revenue for the quarter was up 7.2% compared to the same quarter last year.
Separately, Zacks Investment Research lowered shares of Magellan Health from a "hold" rating to a "strong sell" rating and set a $80.00 price target for the company. in a research report on Wednesday, October 6th.
Several large investors have recently made changes to their positions in MGLN. FMR LLC grew its stake in shares of Magellan Health by 55.5% during the 1st quarter. FMR LLC now owns 147,907 shares of the company's stock valued at $9,750,000 after acquiring an additional 52,786 shares during the period. Amundi Pioneer Asset Management Inc. bought a new position in Magellan Health in the 1st quarter worth approximately $73,000. Captrust Financial Advisors boosted its stake in Magellan Health by 4,790.0% in the 1st quarter. Captrust Financial Advisors now owns 1,956 shares of the company's stock worth $182,000 after purchasing an additional 1,916 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Magellan Health by 12.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,543 shares of the company's stock worth $797,000 after purchasing an additional 913 shares during the period. Finally, California State Teachers Retirement System boosted its stake in Magellan Health by 1.1% in the 1st quarter. California State Teachers Retirement System now owns 37,002 shares of the company's stock worth $3,450,000 after purchasing an additional 398 shares during the period. Institutional investors own 99.52% of the company's stock.
Shares of NASDAQ MGLN traded down $0.23 during midday trading on Thursday, hitting $94.60. 34,201 shares of the company's stock traded hands, compared to its average volume of 248,519. Magellan Health has a 1 year low of $76.83 and a 1 year high of $99.36. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 8.25 and a beta of 1.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.86 and a current ratio of 2.92. The firm has a fifty day moving average of $94.72 and a 200 day moving average of $94.53.
About Magellan Health
Magellan Health, Inc engages in the business of healthcare management. It operates through the following segments: Healthcare, Pharmacy Management and Corporate. The Healthcare segment includes the Behavioral & Specialty Health reporting unit, which provides carve-out management services for behavioral health, employee assistance plans, and other areas of specialty healthcare.
Recommended Story: What is a stock portfolio tracker?
Get a free copy of the Zacks research report on Magellan Health (MGLN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Magellan Health, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Magellan Health wasn't on the list.
While Magellan Health currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here