$ 1.86 per share earnings expected for ModivCare Inc. (NASDAQ: MODV) this quarter
Stock analysts predict that ModivCare Inc. (NASDAQ: MODV) will post earnings per share (EPS) of $ 1.86 for the current fiscal quarter, according to Zacks. Two analysts provided revenue estimates for ModivCare. The lowest EPS estimate is $ 1.82 and the highest is $ 1.89. ModivCare reported earnings of $ 0.98 per share for the same quarter last year, suggesting a positive year-over-year growth rate of 89.8%. The company is expected to release its next quarterly results on Friday, February 25.
On average, analysts expect ModivCare to report annual earnings of $ 7.53 per share for the current year, with EPS estimates ranging from $ 7.50 to $ 7.56. For the next fiscal year, analysts predict the company will report earnings of $ 7.69 per share, with EPS estimates ranging from $ 7.52 to $ 7.85. Zacks’ EPS calculations are an average based on a survey of research companies that follow ModivCare.
ModivCare (NASDAQ: MODV) last reported its quarterly results on Friday, November 5. The company reported EPS of $ 1.63 for the quarter, beating Thomson Reuters consensus estimate of $ 1.42 by $ 0.21. The company posted revenue of $ 493.10 million for the quarter, compared to analysts’ estimates of $ 502.45 million. ModivCare recorded a return on equity of 23.04% and a net margin of 1.20%. ModivCare’s quarterly revenue increased 53.8% year-on-year. In the same quarter of the previous year, the company achieved EPS of $ 2.69.
Several research analysts have commented on MODV stocks. Zacks Investment Research upgraded ModivCare from a “hold” rating to a “strong buy” rating and set a target price of $ 173.00 for the stock in a report released on Wednesday, November 17. TheStreet downgraded ModivCare from a “b” rating to a “c” rating in a report released on Friday, November 12. Finally, Deutsche Bank Aktiengesellschaft started covering ModivCare in a report on Friday. They set a “buy” rating and a target price of $ 180.00 for the stock.
Hedge funds recently bought and sold shares in the company. Bank of New York Mellon Corp increased its position in ModivCare shares by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 319,475 shares of the company valued at $ 54,334,000 after acquiring an additional 149,409 shares during the last quarter. Geode Capital Management LLC increased its position in ModivCare shares by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 230,643 shares of the company valued at $ 39,225,000 after acquiring an additional 5,974 shares during the last quarter. Exchange Traded Concepts LLC increased its position in ModivCare shares by 136.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,075 shares of the company valued at $ 1,285,000 after acquiring an additional 4,078 shares in the last quarter. Pacer Advisors Inc. purchased a new position in ModivCare shares in Q3 valued at approximately $ 7,564,000. Finally, William Blair Investment Management LLC purchased a new position in ModivCare shares in the second quarter valued at approximately $ 100,000. 99.27% of the shares are held by hedge funds and other institutional investors.
MODV stock traded up $ 4.43 in Friday’s session, reaching $ 140.32. The company had a trading volume of 335,778 shares, compared to its average volume of 72,908. The company has a current ratio of 0.82, a quick ratio of 0.82, and a debt-to-equity ratio of 2.41 . ModivCare has a 52 week low of $ 121.00 and a 52 week high of $ 211.94. The company has a market cap of $ 1.96 billion, a P / E ratio of 92.93, a P / E / G ratio of 1.55, and a beta of 0.59. The company has a fifty-day moving average price of $ 155.22 and a two hundred-day moving average price of $ 166.48.
ModivCare, Inc. provides technology-based services, which offer integrated supportive care solutions for public and private payers and their patients. It operates in the following business sectors: Non-urgent medical transport (NEMT), Matrix Investment and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC and Circulation and includes the activities of the Company for management, accounting, finance, internal audit, tax, legal, certain strategic and development functions and captive of the Company’s insurance.
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