Enhabit (NYSE:EHAB) Issues Quarterly Earnings Results

Enhabit (NYSE:EHAB) announced its earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01, Yahoo Finance reports. Enhabit had a negative net margin of 7.69% and a positive return on equity of 1.53%. The company had revenue of $260.60 million for the quarter, compared to the consensus estimate of $260.30 million. During the same period in the previous year, the business earned $0.32 EPS. Enhabit updated its FY 2024 guidance to 0.120-0.430 EPS.

Enhabit Stock Performance

NYSE EHAB traded up $0.34 during trading on Friday, hitting $9.94. 869,573 shares of the company traded hands, compared to its average volume of 603,592. Enhabit has a 12 month low of $7.12 and a 12 month high of $14.59. The business has a fifty day simple moving average of $9.74 and a 200 day simple moving average of $10.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.52 and a quick ratio of 1.52.

Hedge Funds Weigh In On Enhabit

Institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky increased its stake in shares of Enhabit by 6.4% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 14,511 shares of the company’s stock worth $167,000 after purchasing an additional 871 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of Enhabit by 2.0% in the second quarter. Orion Portfolio Solutions LLC now owns 71,813 shares of the company’s stock worth $826,000 after purchasing an additional 1,433 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Enhabit by 13.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,058 shares of the company’s stock worth $166,000 after purchasing an additional 1,875 shares during the period. Schonfeld Strategic Advisors LLC increased its stake in shares of Enhabit by 16.2% in the first quarter. Schonfeld Strategic Advisors LLC now owns 14,865 shares of the company’s stock worth $207,000 after purchasing an additional 2,072 shares during the period. Finally, FMR LLC increased its stake in shares of Enhabit by 104.9% in the first quarter. FMR LLC now owns 4,642 shares of the company’s stock worth $65,000 after purchasing an additional 2,377 shares during the period.

Analysts Set New Price Targets

Several analysts have issued reports on EHAB shares. TD Cowen started coverage on shares of Enhabit in a research note on Tuesday, December 12th. They set a “market perform” rating and a $12.00 target price on the stock. Jefferies Financial Group cut their target price on shares of Enhabit from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group raised shares of Enhabit from a “sell” rating to a “neutral” rating and set a $9.50 target price on the stock in a research note on Thursday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Enhabit in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

Enhabit Company Profile

Enhabit, Inc provides home health and hospice services in the United States. Its home health services include patient education, pain management, wound care and dressing changes, cardiac rehabilitation, infusion therapy, pharmaceutical administration, and skilled observation and assessment services; practices to treat chronic diseases and conditions, including diabetes, hypertension, arthritis, Alzheimer's disease, low vision, spinal stenosis, Parkinson's disease, osteoporosis, complex wound care and chronic pain, along with disease-specific plans for patients with diabetes, congestive heart failure, post-orthopedic surgery, or injury and respiratory diseases; and physical, occupational and speech therapists provide therapy services.