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eHealth (EHTH) Surges 20.8%: Is This an Indication of Further Gains?
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eHealth (EHTH - Free Report) shares ended the last trading session 20.8% higher at $6.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 37.2% loss over the past four weeks.
EHTH recently announce its solid fourth quarter and full year 2023 preliminary results. Medicare Advantage approved members as well as Total Medicare approved members increased year over year in the fourth quarter of 2023. GAAP net income for the fourth quarter of 2023 is expected to be in the range of $47 to $52 million. GAAP net loss for 2023 is expected to be in the range of $32 to $27 million as compared to the company's guidance of GAAP net loss of $46 to $26 million.
Total revenue for the fourth quarter of 2023 is expected to be in the range of $241 to $249 million. Total revenue for the year ended December 31, 2023 is expected to be in the range of $446 to $454 million, outperforming the company’s guidance of $439 to $459 million.
Operating cash outflow for 2023 is expected to be approximately $7 million as compared to the company's guidance of outflow of $15 to $30 million. The outperformance was driven by driven by favorable commission collections from existing member cohorts as well as disciplined approach to operating costs.
This provider of internet-based heath insurance agency services is expected to post quarterly earnings of $1.94 per share in its upcoming report, which represents a year-over-year change of +70.2%. Revenues are expected to be $248.13 million, up 26.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For eHealth, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EHTH going forward to see if this recent jump can turn into more strength down the road.
eHealth is a member of the Zacks Insurance - Brokerage industry. One other stock in the same industry, Erie Indemnity (ERIE - Free Report) , finished the last trading session 2.3% higher at $345.23. ERIE has returned 1% over the past month.
Erie Indemnity's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.13. Compared to the company's year-ago EPS, this represents a change of +70.4%. Erie Indemnity currently boasts a Zacks Rank of #3 (Hold).
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eHealth (EHTH) Surges 20.8%: Is This an Indication of Further Gains?
eHealth (EHTH - Free Report) shares ended the last trading session 20.8% higher at $6.74. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 37.2% loss over the past four weeks.
EHTH recently announce its solid fourth quarter and full year 2023 preliminary results. Medicare Advantage approved members as well as Total Medicare approved members increased year over year in the fourth quarter of 2023. GAAP net income for the fourth quarter of 2023 is expected to be in the range of $47 to $52 million. GAAP net loss for 2023 is expected to be in the range of $32 to $27 million as compared to the company's guidance of GAAP net loss of $46 to $26 million.
Total revenue for the fourth quarter of 2023 is expected to be in the range of $241 to $249 million. Total revenue for the year ended December 31, 2023 is expected to be in the range of $446 to $454 million, outperforming the company’s guidance of $439 to $459 million.
Operating cash outflow for 2023 is expected to be approximately $7 million as compared to the company's guidance of outflow of $15 to $30 million. The outperformance was driven by driven by favorable commission collections from existing member cohorts as well as disciplined approach to operating costs.
This provider of internet-based heath insurance agency services is expected to post quarterly earnings of $1.94 per share in its upcoming report, which represents a year-over-year change of +70.2%. Revenues are expected to be $248.13 million, up 26.4% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For eHealth, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on EHTH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
eHealth is a member of the Zacks Insurance - Brokerage industry. One other stock in the same industry, Erie Indemnity (ERIE - Free Report) , finished the last trading session 2.3% higher at $345.23. ERIE has returned 1% over the past month.
Erie Indemnity's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.13. Compared to the company's year-ago EPS, this represents a change of +70.4%. Erie Indemnity currently boasts a Zacks Rank of #3 (Hold).