UBS Raises Price Target on AMN Healthcare Services (AHS) to $48.50; Reiterates Buy
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
UBS reiterated a Buy rating on AMN Healthcare Services (NYSE: AHS), and raised the price target to $48.50 (from $42.00). following the company's 2Q earnings report. EPS of $0.61 was $0.09 ahead of consensus estimates. Revenues grew to $474M, beating the Street by $18M.
Analyst A.J. Rice commented, "AHS posted 2Q adj. cash EPS of $0.61, up 60% Y/Y and $0.09 ahead of UBSe/cons. 2Q16 revs grew 35% Y/Y (19% organic) to $474 mln, $20/$18 mln ahead of UBSe/cons. Adj EBITDA margin improved 130 bps Y/Y to 12.5%, 100 bps above UBSe. Higher revs/strong margins drove a 51% Y/Y increase in adj EBITDA to $59.3 mln, $7.0 mln above UBSe. Overall, the qtr's results, the 3Q16 outlook, and management's tone on the 2Q call suggest demand for AHS's medical staffing services remain very strong."
Shares of AMN Healthcare Services closed at $41.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Mizuho Securities Downgrades Community Health (CYH) to Underperform
- Jefferies Raises Price Target on Planet Fitness (PLNT) Following Solid 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesUBS, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!