Zacks: Analysts Expect ModivCare Inc. (NASDAQ:MODV) to Post $1.87 Earnings Per Share

Brokerages forecast that ModivCare Inc. (NASDAQ:MODV) will announce earnings of $1.87 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for ModivCare’s earnings. The highest EPS estimate is $1.89 and the lowest is $1.82. ModivCare reported earnings per share of $0.98 during the same quarter last year, which would suggest a positive year-over-year growth rate of 90.8%. The company is expected to issue its next quarterly earnings report on Friday, February 25th.

According to Zacks, analysts expect that ModivCare will report full-year earnings of $7.54 per share for the current year, with EPS estimates ranging from $7.50 to $7.57. For the next year, analysts anticipate that the business will report earnings of $7.84 per share, with EPS estimates ranging from $7.52 to $8.15. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover ModivCare.

ModivCare (NASDAQ:MODV) last released its earnings results on Friday, November 5th. The company reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.21. ModivCare had a net margin of 1.20% and a return on equity of 23.04%. The firm had revenue of $493.10 million during the quarter, compared to the consensus estimate of $502.45 million. During the same period in the prior year, the firm earned $2.69 EPS. The company’s revenue was up 53.8% compared to the same quarter last year.

A number of brokerages recently commented on MODV. TheStreet cut shares of ModivCare from a “b” rating to a “c” rating in a research report on Friday, November 12th. Zacks Investment Research lowered shares of ModivCare from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of ModivCare in a report on Friday, December 17th. They issued a “buy” rating and a $180.00 target price for the company.

Shares of ModivCare stock traded down $1.87 on Friday, hitting $128.04. 1,986 shares of the company traded hands, compared to its average volume of 66,270. The firm’s 50-day simple moving average is $144.01 and its 200 day simple moving average is $164.90. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.41. The company has a market cap of $1.79 billion, a P/E ratio of 84.80, a P/E/G ratio of 1.41 and a beta of 0.60. ModivCare has a 12-month low of $121.00 and a 12-month high of $211.94.

Institutional investors have recently modified their holdings of the business. Koshinski Asset Management Inc. bought a new stake in shares of ModivCare in the 4th quarter valued at about $37,000. William Blair Investment Management LLC purchased a new position in shares of ModivCare during the 2nd quarter valued at approximately $100,000. Advisor Group Holdings Inc. increased its holdings in shares of ModivCare by 21.0% during the 3rd quarter. Advisor Group Holdings Inc. now owns 991 shares of the company’s stock valued at $180,000 after purchasing an additional 172 shares in the last quarter. Royal Bank of Canada increased 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 valued at $191,000 after purchasing an additional 471 shares in the last quarter. Finally, NorthRock Partners LLC purchased a new position in shares of ModivCare during the 2nd quarter valued at approximately $201,000.

ModivCare Company Profile

ModivCare, Inc provides technology-enabled services, which offers integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Matrix Investment, and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC, and Circulation and includes the Company’s activities for executive, accounting, finance, internal audit, tax, legal, certain strategic and development functions and the Company’s insurance captive.

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