ModivCare (MODV) Scheduled to Post Quarterly Earnings on Wednesday

ModivCare (NASDAQ:MODV) will be announcing its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.49 per share for the quarter. ModivCare has set its FY 2024 guidance at EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

ModivCare (NASDAQ:MODV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.80). ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The firm had revenue of $698.30 million for the quarter, compared to analysts’ expectations of $701.00 million. During the same period in the prior year, the business posted $1.41 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, analysts expect ModivCare to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ModivCare Stock Up 0.6 %

Shares of NASDAQ MODV opened at $16.28 on Tuesday. ModivCare has a one year low of $11.00 and a one year high of $52.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63. The firm’s 50 day simple moving average is $18.44 and its two-hundred day simple moving average is $22.92.

Insider Buying and Selling

In related news, major shareholder Q Global Capital Management, L acquired 20,556 shares of ModivCare stock in a transaction on Friday, October 25th. The shares were acquired at an average cost of $14.65 per share, with a total value of $301,145.40. Following the transaction, the insider now owns 1,520,394 shares in the company, valued at $22,273,772.10. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 168,587 shares of company stock valued at $2,569,173 over the last quarter. 22.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Lake Street Capital lowered their price objective on ModivCare from $50.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Barrington Research upped their price target on shares of ModivCare from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group cut their price target on shares of ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, September 13th.

ModivCare Company Profile

ModivCare Inc, a technology-enabled healthcare services company, provides a suite of integrated supportive care solutions for public and private payors and their members. The company operates through four segments: Non-Emergency Medical Transportation (NEMT), Personal Care, Remote Patient Monitoring (RPM), and Corporate and Other.