Acadia Healthcare (NASDAQ:ACHC) Posts Earnings Results, Beats Expectations By $0.01 EPS

Acadia Healthcare (NASDAQ:ACHC) announced its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.01, Briefing.com reports. The firm had revenue of $815.60 million during the quarter, compared to analyst estimates of $819.42 million. Acadia Healthcare had a positive return on equity of 11.42% and a negative net margin of 0.17%. Acadia Healthcare’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 EPS. Acadia Healthcare updated its FY24 guidance to $3.35-$3.45 EPS and its FY 2024 guidance to 3.350-3.450 EPS.

Acadia Healthcare Stock Performance

Acadia Healthcare stock traded down $9.11 during mid-day trading on Thursday, reaching $42.97. 3,947,755 shares of the company were exchanged, compared to its average volume of 965,249. The firm has a market cap of $3.99 billion, a PE ratio of -312.36, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s 50-day simple moving average is $67.15 and its two-hundred day simple moving average is $68.18. Acadia Healthcare has a twelve month low of $42.56 and a twelve month high of $87.77.

Analysts Set New Price Targets

ACHC has been the subject of several recent analyst reports. KeyCorp began coverage on Acadia Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Barclays dropped their target price on Acadia Healthcare from $83.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Acadia Healthcare in a research report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $94.00 target price on shares of Acadia Healthcare in a research note on Friday, September 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Acadia Healthcare from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.67.

Acadia Healthcare Company Profile

Acadia Healthcare Company, Inc provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty treatment facilities comprising residential recovery facilities and eating disorder facilities, comprehensive treatment centers, and residential treatment centers, as well as facilities offering outpatient behavioral healthcare services for the behavioral healthcare and recovery needs of communities.