Equities analysts forecast that ModivCare Inc. (NASDAQ:MODV) will post $1.86 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for ModivCare’s earnings. The lowest EPS estimate is $1.82 and the highest is $1.89. ModivCare reported earnings of $0.98 per share in the same quarter last year, which suggests a positive year over year growth rate of 89.8%. The company is expected to issue its next quarterly earnings results on Friday, February 25th.
On average, analysts expect that ModivCare will report full-year earnings of $7.53 per share for the current year, with EPS estimates ranging from $7.50 to $7.56. For the next fiscal year, analysts expect that the business will report earnings of $7.69 per share, with EPS estimates ranging from $7.52 to $7.85. Zacks’ EPS calculations are a mean average based on a survey of research firms that follow ModivCare.
ModivCare (NASDAQ:MODV) last announced its quarterly earnings results on Friday, November 5th. The company reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.21. The business had revenue of $493.10 million for the quarter, compared to analyst estimates of $502.45 million. ModivCare had a return on equity of 23.04% and a net margin of 1.20%. ModivCare’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.69 EPS.
Several research analysts have commented on MODV shares. Zacks Investment Research raised ModivCare from a “hold” rating to a “strong-buy” rating and set a $173.00 target price on the stock in a report on Wednesday, November 17th. TheStreet downgraded ModivCare from a “b” rating to a “c” rating in a report on Friday, November 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ModivCare in a report on Friday. They set a “buy” rating and a $180.00 target price on the stock.
Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in shares of ModivCare by 87.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 319,475 shares of the company’s stock worth $54,334,000 after acquiring an additional 149,409 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ModivCare by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 230,643 shares of the company’s stock worth $39,225,000 after acquiring an additional 5,974 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of ModivCare by 136.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 7,075 shares of the company’s stock worth $1,285,000 after acquiring an additional 4,078 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of ModivCare in the 3rd quarter worth about $7,564,000. Finally, William Blair Investment Management LLC bought a new position in shares of ModivCare in the 2nd quarter worth about $100,000. 99.27% of the stock is owned by hedge funds and other institutional investors.
MODV stock traded up $4.43 during trading on Friday, hitting $140.32. The company had a trading volume of 335,778 shares, compared to its average volume of 72,908. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.41. ModivCare has a fifty-two week low of $121.00 and a fifty-two week high of $211.94. The company has a market cap of $1.96 billion, a P/E ratio of 92.93, a P/E/G ratio of 1.55 and a beta of 0.59. The company has a fifty day moving average price of $155.22 and a two-hundred day moving average price of $166.48.
ModivCare, Inc provides technology-enabled services, which offers integrated supportive care solutions for public and private payors and their patients. It operates through the following business segments: Non-Emergency Medical Transportation (NEMT), Matrix Investment, and Personal Care. The NEMT segment operates under the brands ModivCare Solutions, LLC, and Circulation and includes the Company’s activities for executive, accounting, finance, internal audit, tax, legal, certain strategic and development functions and the Company’s insurance captive.
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