Analysts Expect ModivCare Inc. (NASDAQ:MODV) to Post $1.57 EPS

Brokerages forecast that ModivCare Inc. (NASDAQ:MODV – Get Rating) will post earnings of $1.57 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for ModivCare’s earnings, with the lowest EPS estimate coming in at $1.38 and the highest estimate coming in at $1.71. ModivCare posted earnings of $2.13 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.3%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that ModivCare will report full year earnings of $6.76 per share for the current year, with EPS estimates ranging from $6.47 to $6.95. For the next year, analysts forecast that the firm will report earnings of $8.05 per share, with EPS estimates ranging from $7.71 to $8.45. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for ModivCare.

ModivCare (NASDAQ:MODV – Get Rating) last posted its 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). The business had revenue of $574.50 million for the quarter, compared to analyst estimates of $565.77 million. ModivCare had a positive return on equity of 26.94% and a negative net margin of 1.18%. ModivCare’s revenue was up 26.7% compared to the same quarter last year. During the same period last year, the business earned $1.92 EPS.

Several research firms have issued reports on MODV. Zacks Investment Research raised ModivCare from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft cut their target price on ModivCare from $150.00 to $130.00 in a research note on Friday, May 6th. Finally, Barrington Research dropped their price objective on ModivCare from $190.00 to $155.00 and set an “outperform” rating for the company in a research note on Monday, February 28th.

Hedge funds and other institutional investors have recently modified their holdings of the company. Koshinski Asset Management Inc. acquired a new stake in shares of ModivCare in the fourth quarter valued at $37,000. City State Bank acquired a new position in ModivCare during the 4th quarter worth $78,000. Point72 Hong Kong Ltd acquired a new position in ModivCare during the 1st quarter worth $78,000. KBC Group NV grew its stake in ModivCare by 147.8% during the 1st quarter. KBC Group NV now owns 835 shares of the company’s stock worth $96,000 after purchasing an additional 498 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in ModivCare by 48.2% during the 1st quarter. Captrust Financial Advisors now owns 1,027 shares of the company’s stock worth $119,000 after purchasing an additional 334 shares in the last quarter. 73.85% of the stock is owned by institutional investors and hedge funds.

MODV stock traded up $2.73 during midday trading on Thursday, hitting $95.82. 67,068 shares of the company’s stock were exchanged, compared to its average volume of 83,740. The business has a 50-day simple moving average of $106.33 and a two-hundred day simple moving average of $119.28. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 2.59. The stock has a market capitalization of $1.35 billion, a PE ratio of -52.94, a P/E/G ratio of 1.18 and a beta of 0.74. ModivCare has a 1-year low of $91.61 and a 1-year high of $211.94.

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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