Cross Country Healthcare (NASDAQ:CCRN) Releases Q3 2022 Earnings Guidance

Cross Country Healthcare (NASDAQ:CCRNGet Rating) updated its third quarter 2022 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.90-$1.00 for the period, compared to the consensus estimate of $0.91. The company issued revenue guidance of $615.00 million-$625.00 million, compared to the consensus revenue estimate of $610.51 million. Cross Country Healthcare also updated its FY 2023 guidance to EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Benchmark raised their price target on Cross Country Healthcare from $37.00 to $42.00 and gave the stock a buy rating in a report on Thursday, September 15th. Credit Suisse Group lowered their price target on Cross Country Healthcare from $28.00 to $26.00 and set a neutral rating on the stock in a report on Thursday, June 9th. Finally, Barrington Research reduced their price objective on shares of Cross Country Healthcare to $40.00 in a research report on Monday, August 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $33.75.

Cross Country Healthcare Stock Performance

NASDAQ:CCRN traded down $0.37 during mid-day trading on Friday, reaching $26.91. The stock had a trading volume of 16,619 shares, compared to its average volume of 852,740. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.67 and a current ratio of 2.67. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 4.77, a PEG ratio of 0.61 and a beta of 1.03. Cross Country Healthcare has a twelve month low of $15.26 and a twelve month high of $30.51. The business has a 50 day simple moving average of $25.92 and a 200 day simple moving average of $21.84.

Insider Activity at Cross Country Healthcare

In related news, Director W Larry Cash purchased 1,500 shares of Cross Country Healthcare stock in a transaction dated Tuesday, August 30th. The stock was bought at an average cost of $25.60 per share, for a total transaction of $38,400.00. Following the transaction, the director now owns 177,899 shares in the company, valued at $4,554,214.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO William J. Burns sold 14,705 shares of Cross Country Healthcare stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $28.99, for a total transaction of $426,297.95. Following the completion of the sale, the chief financial officer now directly owns 246,404 shares in the company, valued at approximately $7,143,251.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director W Larry Cash purchased 1,500 shares of Cross Country Healthcare stock in a transaction dated Tuesday, August 30th. The shares were bought at an average price of $25.60 per share, with a total value of $38,400.00. Following the completion of the transaction, the director now owns 177,899 shares in the company, valued at approximately $4,554,214.40. The disclosure for this purchase can be found here. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Cross Country Healthcare during the 1st quarter worth approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in Cross Country Healthcare in the 1st quarter worth approximately $35,000. Captrust Financial Advisors grew its stake in Cross Country Healthcare by 26.4% in the 1st quarter. Captrust Financial Advisors now owns 3,074 shares of the business services provider’s stock worth $67,000 after acquiring an additional 642 shares during the period. Advisor Group Holdings Inc. grew its stake in Cross Country Healthcare by 176.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 8,179 shares of the business services provider’s stock worth $177,000 after acquiring an additional 5,216 shares during the period. Finally, Eqis Capital Management Inc. grew its stake in Cross Country Healthcare by 28.4% in the 1st quarter. Eqis Capital Management Inc. now owns 9,419 shares of the business services provider’s stock worth $204,000 after acquiring an additional 2,082 shares during the period. 95.25% of the stock is currently owned by institutional investors and hedge funds.

Cross Country Healthcare Company Profile

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Cross Country Healthcare, Inc provides talent management and other consultative services for healthcare clients in the United States. The company operates in two segments, Nurse and Allied Staffing and Physician Staffing. The Nurse and Allied Staffing segment offers traditional staffing, including temporary and permanent placement of travel nurses and allied professionals, local nurses, and allied staffing; staffing solutions for registered nurses, licensed practical nurses, certified nurse assistants, practitioners, pharmacists, and other allied professionals on per diem and short-term assignments; and clinical and non-clinical professionals on long-term contract assignments, as well as workforce solutions, including MSP, RPO, and consulting services.

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Earnings History and Estimates for Cross Country Healthcare (NASDAQ:CCRN)

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