UBS Reiterates Buy on Cross Country Healthcare (CCRN)
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
UBS maintained a Buy rating and $16.00 price target on Cross Country Healthcare (NASDAQ: CCRN) as the company reiterated its 3Q outlook. CCRN's 3Q16 EBITDA margin target of 5.0-5.5% is before estimated $0.9 mln of stockbased comp exp, while the EPS outlook of $0.13-$0.15 includes its impact.
Analyst A.J. Riced commented, "CCRN shares have been volatile recently on concerns around the short term drag of the company's investments (to drive nursing candidate attraction and to continue to build its workforce solutions capabilities). We briefly checked with CCRN. Management reports that investment spending is tracking the company's expectations, albeit the benefits from these initiatives are not likely to be noticeable until Q4. Importantly, having finalized July and August results at this point, management is comfortable reiterating its 3Q EBITDA margin outlook of 5.0-5.5% and EPS outlook of $0.13-$0.15. We are maintaining our estimates and believe that the recent weakness in shares provides an attractive buying opportunity."
Shares of Cross Country Healthcare closed at $11.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Upgrades Swift Transportation (SWFT) to Buy
- T-Mobile (TMUS) PT Raised to $46 at Nomura, Remains Sidelined
- UBS Raises Price Target on Zions Bancorp (ZION) to $29 Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments
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!