By Chris Wack
Cross Country Healthcare shares were down 13% to $20.02 after the company reported third-quarter earnings that missed analysts’ expectations.
The stock hit its 52-week low of $15.65 earlier in Thursday’s session, and is down 43% in the past 12 months.
The healthcare company had quarterly earnings of $12.8 million, or 36 cents a share, compared with $34.8 million, or 93 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of $14.2 million, or 40 cents a share.
Revenue for the quarter was $442.3 million, compared with last year’s $636.1 million and the $443.9 million analysts were expecting.
Adjusted earnings were 39 cents for the quarter, compared with the 41 cents a share analysts had forecast.
Cross Country is looking for fourth-quarter revenue of $400 million to $410 million, while analysts are looking for revenue of $418 million. The company is also looking for adjusted earnings of 25 cents to 35 cents a share, with analysts forecasting 34 cents a share.
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