Zacks: Brokerages Expect Castlight Health (CSLT) to Post -$0.05 Earnings Per Share

Brokerages expect Castlight Health (NYSE:CSLT) to announce earnings of ($0.05) per share for the current quarter, according to Zacks. Two analysts have provided estimates for Castlight Health’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.04). Castlight Health reported earnings of ($0.07) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The business is expected to report its next quarterly earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Castlight Health will report full year earnings of ($0.13) per share for the current year, with EPS estimates ranging from ($0.15) to ($0.11). For the next fiscal year, analysts expect that the business will post earnings of $0.00 per share, with EPS estimates ranging from ($0.02) to $0.04. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Castlight Health.

Castlight Health (NYSE:CSLT) last released its quarterly earnings data on Wednesday, February 21st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $37.00 million during the quarter, compared to analysts’ expectations of $36.36 million. Castlight Health had a negative return on equity of 25.09% and a negative net margin of 39.39%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) earnings per share.



A number of analysts recently issued reports on CSLT shares. Zacks Investment Research raised Castlight Health from a “hold” rating to a “buy” rating and set a $3.75 price objective for the company in a research report on Wednesday, January 31st. Cantor Fitzgerald reissued a “buy” rating and set a $5.00 price objective on shares of Castlight Health in a research report on Wednesday, April 25th. Chardan Capital reissued a “buy” rating and set a $5.75 price objective (down previously from $6.30) on shares of Castlight Health in a research report on Thursday, February 22nd. Finally, ValuEngine raised Castlight Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $5.25.

CSLT traded up $0.02 during trading on Wednesday, reaching $3.57. 6,801 shares of the stock traded hands, compared to its average volume of 316,146. The stock has a market cap of $483.02 million, a price-to-earnings ratio of -13.85 and a beta of 1.38. Castlight Health has a fifty-two week low of $3.15 and a fifty-two week high of $4.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02.

In other Castlight Health news, CEO John C. Doyle sold 10,644 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $3.63, for a total value of $38,637.72. Following the completion of the sale, the chief executive officer now owns 157,422 shares of the company’s stock, valued at $571,441.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Doyle sold 21,160 shares of the business’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $3.79, for a total value of $80,196.40. Following the completion of the sale, the chief executive officer now directly owns 165,672 shares of the company’s stock, valued at approximately $627,896.88. The disclosure for this sale can be found here. Insiders sold 64,985 shares of company stock valued at $241,828 in the last ninety days. Insiders own 22.58% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new position in shares of Castlight Health in the fourth quarter worth about $126,000. First Quadrant L P CA bought a new position in shares of Castlight Health in the fourth quarter worth about $167,000. Allianz Asset Management GmbH bought a new position in shares of Castlight Health in the first quarter worth about $180,000. Swiss National Bank increased its stake in shares of Castlight Health by 13.1% in the first quarter. Swiss National Bank now owns 122,550 shares of the software maker’s stock worth $447,000 after purchasing an additional 14,200 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Castlight Health by 143.7% in the first quarter. Dimensional Fund Advisors LP now owns 136,143 shares of the software maker’s stock worth $497,000 after purchasing an additional 80,270 shares during the period. Institutional investors and hedge funds own 43.90% of the company’s stock.

Castlight Health Company Profile

Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.

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