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

Cross Country Healthcare (NASDAQ:CCRN) issued its quarterly earnings results on Wednesday. The business services provider reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02, reports. Cross Country Healthcare had a return on equity of 7.29% and a net margin of 0.54%. The firm had revenue of $315.12 million during the quarter, compared to the consensus estimate of $310.05 million. Cross Country Healthcare updated its Q4 guidance to $0.10-$0.14 EPS and its Q4 2024 guidance to 0.100-0.140 EPS.

Cross Country Healthcare Price Performance

Shares of CCRN stock traded down $1.91 during trading hours on Friday, reaching $10.36. The stock had a trading volume of 1,046,631 shares, compared to its average volume of 530,927. The firm has a 50-day simple moving average of $12.94 and a 200-day simple moving average of $14.35. The firm has a market capitalization of $350.26 million, a PE ratio of -207.20, a price-to-earnings-growth ratio of 2.17 and a beta of 0.65. Cross Country Healthcare has a twelve month low of $10.35 and a twelve month high of $23.64.

Hedge Funds Weigh In On Cross Country Healthcare

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its holdings in Cross Country Healthcare by 3.8% in the second quarter. SummerHaven Investment Management LLC now owns 28,376 shares of the business services provider’s stock worth $393,000 after purchasing an additional 1,032 shares during the period. Raymond James & Associates boosted its holdings in shares of Cross Country Healthcare by 0.7% in the second quarter. Raymond James & Associates now owns 165,324 shares of the business services provider’s stock valued at $2,288,000 after acquiring an additional 1,155 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cross Country Healthcare by 9.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,639 shares of the business services provider’s stock valued at $312,000 after acquiring an additional 1,450 shares during the period. Gladius Capital Management LP raised its holdings in Cross Country Healthcare by 83.4% during the third quarter. Gladius Capital Management LP now owns 3,985 shares of the business services provider’s stock worth $54,000 after purchasing an additional 1,812 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Cross Country Healthcare by 32.8% in the third quarter. GAMMA Investing LLC now owns 7,543 shares of the business services provider’s stock worth $101,000 after purchasing an additional 1,865 shares during the period. 96.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CCRN shares. Benchmark decreased their price objective on shares of Cross Country Healthcare from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday. Barrington Research lowered their price objective on shares of Cross Country Healthcare from $21.00 to $19.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Truist Financial cut their target price on shares of Cross Country Healthcare from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.50.

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.