ModivCare (MODV) to Release Earnings on Wednesday

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

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

ModivCare Stock Performance

Shares of ModivCare stock opened at $16.28 on Tuesday. ModivCare has a twelve month low of $11.00 and a twelve month high of $52.33. The company has a debt-to-equity ratio of 103.63, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50-day moving average price of $18.44 and a 200-day moving average price of $22.92.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MODV. Jefferies Financial Group reduced their price objective on ModivCare from $25.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, September 13th. Lake Street Capital reduced their price target on shares of ModivCare from $50.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, 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 research note on Thursday, October 3rd.

Insider Buying and Selling at ModivCare

In related news, major shareholder Q Global Capital Management, L bought 20,556 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was purchased at an average price of $14.65 per share, for a total transaction of $301,145.40. Following the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 168,587 shares of company stock worth $2,569,173 over the last ninety days. Company insiders own 22.10% of the company’s stock.

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.