Equities analysts forecast that ModivCare Inc. (NASDAQ: MODV – Get Rating) will announce $ 584.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ModivCare’s earnings, with the lowest sales estimate coming in at $ 581.12 million and the highest estimate coming in at $ 588.98 million. ModivCare posted sales of $ 475.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 22.9%. The business is expected to report its next earnings report on Monday, January 1st.
On average, analysts expect that ModivCare will report full year sales of $ 2.37 billion for the current financial year, with estimates ranging from $ 2.36 billion to $ 2.38 billion. For next year, analysts forecast that the business will post sales of $ 2.53 billion, with estimates ranging from $ 2.52 billion to $ 2.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover ModivCare.
ModivCare (NASDAQ: MODV – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $ 1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $ 1.58 by ($ 0.01). ModivCare had a negative net margin of 1.18% and a positive return on equity of 26.94%. The business had revenue of $ 574.50 million during the quarter, compared to analyst estimates of $ 565.77 million. During the same quarter in the previous year, the firm posted $ 1.92 earnings per share. The firm’s quarterly revenue was up 26.7% on a year-over-year basis.
A number of research analysts have recently commented on MODV shares. Barrington Research decreased their objective price on shares of ModivCare from $ 190.00 to $ 155.00 and set an “outperform” rating for the company in a research report on Monday, February 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ModivCare from $ 150.00 to $ 130.00 in a research report on Friday, May 6th. Finally, Zacks Investment Research raised shares of ModivCare from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th.
Several hedge funds have recently made changes to their positions in MODV. Royal Bank of Canada boosted its holdings in shares of ModivCare by 72.1% during the 2nd quarter. Royal Bank of Canada now owns 1,124 shares of the company’s stock worth $ 191,000 after buying an additional 471 shares during the period. Morgan Stanley raised its stake in ModivCare by 128.6% in the 2nd quarter. Morgan Stanley now owns 71,776 shares of the company’s stock worth $ 12,207,000 after purchasing an additional 40,383 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in ModivCare by 21.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 991 shares of the company’s stock worth $ 180,000 after purchasing an additional 172 shares in the last quarter. Teacher Retirement System of Texas raised its stake in ModivCare by 24.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 2,068 shares of the company’s stock worth $ 376,000 after purchasing an additional 404 shares in the last quarter. Finally, Alliancebernstein LP raised its stake in ModivCare by 95.0% in the 3rd quarter. Alliancebernstein LP now owns 35,166 shares of the company’s stock worth $ 6,387,000 after purchasing an additional 17,130 shares in the last quarter. 73.85% of the stock is owned by institutional investors and hedge funds.
Shares of MODV opened at $ 102.00 on Friday. The firm has a 50-day moving average of $ 109.75 and a 200-day moving average of $ 124.47. ModivCare has a one year low of $ 93.84 and a one year high of $ 211.94. The company has a market cap of $ 1.43 billion, a PE ratio of -56.35, a price-to-earnings-growth ratio of 1.19 and a beta of 0.74. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.83 and a quick ratio of 0.83.
About ModivCare (Get Rating)
ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and patients. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and the Matrix Investment.
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