Joint Corp (NASDAQ:JYNT) Expected to Announce Quarterly Sales of $11.80 Million

Equities research analysts expect Joint Corp (NASDAQ:JYNT) to report $11.80 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Joint’s earnings. The highest sales estimate is $12.20 million and the lowest is $11.48 million. Joint posted sales of $8.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 46.4%. The company is expected to report its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Joint will report full-year sales of $46.44 million for the current year, with estimates ranging from $45.80 million to $47.30 million. For the next financial year, analysts anticipate that the company will post sales of $59.04 million, with estimates ranging from $58.05 million to $59.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Joint.

Joint (NASDAQ:JYNT) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The business had revenue of $11.17 million during the quarter, compared to analyst estimates of $11.08 million. Joint had a net margin of 5.38% and a return on equity of 114.93%.

Several analysts recently weighed in on the stock. TheStreet downgraded shares of Joint from a “b-” rating to a “c” rating in a research report on Tuesday, September 3rd. Zacks Investment Research downgraded shares of Joint from a “buy” rating to a “hold” rating in a research report on Saturday. Lake Street Capital raised their target price on shares of Joint from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine cut shares of Joint from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, B. Riley set a $23.00 target price on shares of Joint and gave the company a “buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $23.67.

NASDAQ:JYNT traded up $0.79 during mid-day trading on Friday, hitting $19.17. The stock had a trading volume of 109,500 shares, compared to its average volume of 130,209. The stock has a market capitalization of $252.10 million, a price-to-earnings ratio of 479.25 and a beta of 1.02. The company has a 50 day simple moving average of $18.04 and a 200-day simple moving average of $17.78. Joint has a 52 week low of $6.51 and a 52 week high of $21.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.33.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bandera Partners LLC grew its stake in shares of Joint by 4.6% in the 2nd quarter. Bandera Partners LLC now owns 1,364,301 shares of the company’s stock worth $24,830,000 after purchasing an additional 60,000 shares during the last quarter. BlackRock Inc. increased its position in shares of Joint by 1,224.0% in the second quarter. BlackRock Inc. now owns 769,378 shares of the company’s stock worth $14,002,000 after acquiring an additional 711,267 shares in the last quarter. Skylands Capital LLC increased its position in shares of Joint by 4.4% in the second quarter. Skylands Capital LLC now owns 550,701 shares of the company’s stock worth $10,023,000 after acquiring an additional 23,051 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Joint by 42.0% in the second quarter. Vanguard Group Inc. now owns 538,070 shares of the company’s stock worth $9,793,000 after acquiring an additional 159,034 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Joint by 17.3% in the second quarter. Acadian Asset Management LLC now owns 254,919 shares of the company’s stock worth $4,639,000 after acquiring an additional 37,653 shares in the last quarter. 62.76% of the stock is currently owned by institutional investors.

About Joint

The Joint Corp. develops, owns, operates, supports, and manages chiropractic clinics. The company operates through two segments, Corporate Clinics and Franchise Operations. It operates through direct ownership, management arrangements, franchising, and the sale of regional developer rights. As of March 07, 2019, the company operated 450 clinics in the United States.

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