Acadia Healthcare (NASDAQ:ACHC) Posts Earnings Results, Beats Expectations By $0.04 EPS

Acadia Healthcare (NASDAQ:ACHC) released its quarterly earnings results on Wednesday. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.04, Briefing.com reports. Acadia Healthcare had a positive return on equity of 11.56% and a negative net margin of 0.38%. The business had revenue of $768.10 million during the quarter, compared to analysts’ expectations of $779.20 million. During the same period last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Acadia Healthcare updated its FY24 guidance to $3.40-3.70 EPS and its FY 2024 guidance to 3.400-3.700 EPS.

Acadia Healthcare Stock Down 0.9 %

Shares of ACHC stock traded down $0.61 on Friday, reaching $66.12. 1,181,258 shares of the stock were exchanged, compared to its average volume of 604,466. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.48. Acadia Healthcare has a twelve month low of $64.74 and a twelve month high of $87.77. The company has a market capitalization of $6.11 billion, a price-to-earnings ratio of -467.57, a PEG ratio of 2.15 and a beta of 1.31. The business’s 50 day moving average price is $77.13 and its 200 day moving average price is $77.61.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACHC. Bank of America reduced their price objective on Acadia Healthcare from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday. Mizuho reduced their target price on Acadia Healthcare from $84.00 to $70.00 and set a “neutral” rating for the company in a report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price objective on shares of Acadia Healthcare in a research note on Monday, March 4th. Cantor Fitzgerald restated a “neutral” rating and set a $90.00 target price on shares of Acadia Healthcare in a research report on Tuesday, March 5th. Finally, TheStreet raised Acadia Healthcare from a “c” rating to a “b-” rating in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.50.

Insider Transactions at Acadia Healthcare

In other Acadia Healthcare news, Director Wade D. Miquelon sold 2,203 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $85.39, for a total value of $188,114.17. Following the completion of the transaction, the director now directly owns 46,074 shares of the company’s stock, valued at $3,934,258.86. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Acadia Healthcare Company Profile

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty treatment facilities comprising residential recovery facilities and eating disorder facilities, comprehensive treatment centers, and residential treatment centers, as well as facilities offering outpatient behavioral healthcare services for the behavioral healthcare and recovery needs of communities.