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Cross Country Healthcare (CCRN) Gains As Market Dips: What You Should Know
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In the latest trading session, Cross Country Healthcare (CCRN - Free Report) closed at $36.36, marking a +0.72% move from the previous day. This change outpaced the S&P 500's 0.74% loss on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the provider of health care staffing and workforce management services had gained 30.04% over the past month, outpacing the Business Services sector's gain of 1.47% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from Cross Country Healthcare as it approaches its next earnings report date. This is expected to be November 2, 2022. The company is expected to report EPS of $0.96, up 57.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $617.93 million, up 64.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.80 per share and revenue of $2.71 billion, which would represent changes of +56.86% and +61.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cross Country Healthcare. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Cross Country Healthcare is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Cross Country Healthcare currently has a Forward P/E ratio of 7.51. Its industry sports an average Forward P/E of 9.89, so we one might conclude that Cross Country Healthcare is trading at a discount comparatively.
Investors should also note that CCRN has a PEG ratio of 0.75 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Staffing Firms was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Staffing Firms industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CCRN in the coming trading sessions, be sure to utilize Zacks.com.
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Cross Country Healthcare (CCRN) Gains As Market Dips: What You Should Know
In the latest trading session, Cross Country Healthcare (CCRN - Free Report) closed at $36.36, marking a +0.72% move from the previous day. This change outpaced the S&P 500's 0.74% loss on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 0.05%.
Heading into today, shares of the provider of health care staffing and workforce management services had gained 30.04% over the past month, outpacing the Business Services sector's gain of 1.47% and the S&P 500's gain of 4.58% in that time.
Wall Street will be looking for positivity from Cross Country Healthcare as it approaches its next earnings report date. This is expected to be November 2, 2022. The company is expected to report EPS of $0.96, up 57.38% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $617.93 million, up 64.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.80 per share and revenue of $2.71 billion, which would represent changes of +56.86% and +61.68%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Cross Country Healthcare. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.29% higher. Cross Country Healthcare is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, Cross Country Healthcare currently has a Forward P/E ratio of 7.51. Its industry sports an average Forward P/E of 9.89, so we one might conclude that Cross Country Healthcare is trading at a discount comparatively.
Investors should also note that CCRN has a PEG ratio of 0.75 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Staffing Firms was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Staffing Firms industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 56, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CCRN in the coming trading sessions, be sure to utilize Zacks.com.