Zacks: Analysts Expect ModivCare Inc. (NASDAQ:MODV) Will Announce Quarterly Sales of $584.23 Million

Analysts expect that ModivCare Inc. (NASDAQ:MODVGet Rating) will announce $584.23 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for ModivCare’s earnings, with estimates ranging from $581.12 million to $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 scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that ModivCare will report full year sales of $2.37 billion for the current fiscal year, with estimates ranging from $2.36 billion to $2.38 billion. For the next financial year, analysts forecast that the company will post sales of $2.53 billion, with estimates ranging from $2.52 billion to $2.55 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover ModivCare.

ModivCare (NASDAQ:MODVGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported $1.57 earnings per share 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 company had revenue of $574.50 million during the quarter, compared to the consensus estimate of $565.77 million. During the same quarter in the previous year, the business earned $1.92 EPS. ModivCare’s revenue was up 26.7% on a year-over-year basis.

MODV has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on ModivCare from $150.00 to $130.00 in a report on Friday, May 6th. Barrington Research reduced their price target on ModivCare from $190.00 to $155.00 and set an “outperform” rating for the company in a report on Monday, February 28th. Finally, Zacks Investment Research upgraded ModivCare from a “sell” rating to a “hold” rating in a report on Wednesday, April 27th.

Several large investors have recently modified their holdings of MODV. Royal Bank of Canada boosted its holdings in shares of ModivCare by 72.1% during the second quarter. Royal Bank of Canada now owns 1,124 shares of the company’s stock worth $191,000 after acquiring an additional 471 shares during the period. Morgan Stanley boosted its holdings in shares of ModivCare by 128.6% during the second quarter. Morgan Stanley now owns 71,776 shares of the company’s stock worth $12,207,000 after acquiring an additional 40,383 shares during the period. Advisor Group Holdings Inc. raised its position in shares of ModivCare by 21.0% in the third quarter. Advisor Group Holdings Inc. now owns 991 shares of the company’s stock valued at $180,000 after buying an additional 172 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of ModivCare by 24.3% in the third quarter. Teacher Retirement System of Texas now owns 2,068 shares of the company’s stock valued at $376,000 after buying an additional 404 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of ModivCare by 95.0% in the third quarter. Alliancebernstein L.P. now owns 35,166 shares of the company’s stock valued at $6,387,000 after buying an additional 17,130 shares in the last quarter. Institutional investors own 73.85% of the company’s stock.

ModivCare stock traded up $1.48 during midday trading on Friday, reaching $100.19. 619 shares of the company’s stock were exchanged, compared to its average volume of 90,851. ModivCare has a 52 week low of $93.84 and a 52 week high of $211.94. The company has a debt-to-equity ratio of 2.59, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -54.54, a P/E/G ratio of 1.26 and a beta of 0.74. The stock’s 50-day simple moving average is $109.58 and its 200 day simple moving average is $124.02.

ModivCare Company Profile (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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Earnings History and Estimates for ModivCare (NASDAQ:MODV)

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