Analysts Issue Forecasts for The Pennant Group, Inc.’s Q1 2023 Earnings (NASDAQ:PNTG)

The Pennant Group, Inc. (NASDAQ:PNTG – Get Rating) – Equities research analysts at Oppenheimer issued their Q1 2023 EPS estimates for The Pennant Group in a research note issued to investors on Thursday, January 19th. Oppenheimer analyst M. Wiederhorn forecasts that the company will post earnings per share of $0.09 for the quarter. The consensus estimate for The Pennant Group’s current full-year earnings is $0.39 per share. Oppenheimer also issued estimates for The Pennant Group’s Q2 2023 earnings at $0.11 EPS, Q3 2023 earnings at $0.14 EPS and Q4 2023 earnings at $0.16 EPS.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada dropped their price target on shares of The Pennant Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Stephens dropped their price target on shares of The Pennant Group from $16.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.60.

The Pennant Group Trading Up 2.1 %

Shares of PNTG stock opened at $12.07 on Monday. The firm has a 50 day moving average price of $10.67 and a two-hundred day moving average price of $12.40. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $358.20 million, a PE ratio of 603.80, a price-to-earnings-growth ratio of 1.99 and a beta of 2.14. The Pennant Group has a 12-month low of $8.68 and a 12-month high of $20.28.

The Pennant Group (NASDAQ:PNTG – Get Rating) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.10. The firm had revenue of $118.35 million during the quarter, compared to the consensus estimate of $115.72 million. The Pennant Group had a net margin of 0.22% and a return on equity of 9.01%.

Insider Activity at The Pennant Group

In other news, Director John G. Nackel acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 30th. The shares were acquired at an average cost of $10.13 per share, with a total value of $202,600.00. Following the completion of the purchase, the director now directly owns 82,652 shares of the company’s stock, valued at approximately $837,264.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of The Pennant Group during the third quarter worth $27,000. Captrust Financial Advisors grew its stake in shares of The Pennant Group by 34.8% during the first quarter. Captrust Financial Advisors now owns 4,098 shares of the company’s stock worth $76,000 after buying an additional 1,057 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of The Pennant Group by 217.0% during the third quarter. Tower Research Capital LLC TRC now owns 4,464 shares of the company’s stock worth $46,000 after buying an additional 3,056 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of The Pennant Group by 16.8% during the second quarter. Mutual of America Capital Management LLC now owns 4,553 shares of the company’s stock worth $58,000 after buying an additional 655 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of The Pennant Group during the third quarter worth $47,000. 86.18% of the stock is owned by institutional investors.

The Pennant Group Company Profile

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The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.