ModivCare (MODV) to Release Earnings on Wednesday

ModivCare (NASDAQ:MODV - Get Free Report) 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.Parties that wish to listen to the company's conference call can do so using this link.

ModivCare (NASDAQ:MODV - Get Free Report) last released its 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). ModivCare had a negative net margin of 5.80% and a positive return on equity of 27.52%. The business had revenue of $698.30 million for the quarter, compared to analyst estimates of $701.00 million. During the same period in the prior year, the company earned $1.41 earnings per share. The firm's revenue for the quarter 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 Price Performance

MODV stock traded up $0.60 on Wednesday, hitting $16.08. 241,878 shares of the company's stock traded hands, compared to its average volume of 256,909. ModivCare has a 1-year low of $11.00 and a 1-year high of $52.33. The stock has a market cap of $228.98 million, a price-to-earnings ratio of -1.37, a P/E/G ratio of 1.87 and a beta of 0.49. The stock has a fifty day moving average of $19.25 and a 200-day moving average of $23.06. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 103.63.

Wall Street Analyst Weigh In

MODV has been the subject of several recent research reports. Barrington Research increased their target price 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. Lake Street Capital cut their target price on shares of ModivCare from $50.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group cut their target price on shares of ModivCare from $25.00 to $14.00 and set a "hold" rating for the company in a research note on Friday, September 13th.

Insider Activity at ModivCare

In other news, major shareholder Q Global Capital Management, L purchased 20,556 shares of ModivCare stock in a transaction that occurred on Friday, October 25th. The stock was acquired at an average price of $14.65 per share, for a total transaction of $301,145.40. Following the transaction, the insider now owns 1,520,394 shares in the company, valued at $22,273,772.10. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders bought 96,800 shares of company stock worth $1,419,769. 22.10% of the stock is owned by corporate insiders.

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.