Zacks: Analysts Anticipate The Pennant Group, Inc. (NASDAQ:PNTG) Will Post Quarterly Sales of $113.14 Million

Equities analysts forecast that The Pennant Group, Inc. (NASDAQ:PNTGGet Rating) will announce $113.14 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for The Pennant Group’s earnings, with the lowest sales estimate coming in at $113.00 million and the highest estimate coming in at $113.28 million. The Pennant Group reported sales of $110.35 million during the same quarter last year, which indicates a positive year over year growth rate of 2.5%. The business is expected to announce its next earnings report on Monday, January 1st.

On average, analysts expect that The Pennant Group will report full year sales of $459.08 million for the current financial year, with estimates ranging from $458.00 million to $460.16 million. For the next financial year, analysts anticipate that the business will report sales of $503.14 million, with estimates ranging from $492.00 million to $514.28 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for The Pennant Group.

The Pennant Group (NASDAQ:PNTGGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. The Pennant Group had a net margin of 0.62% and a return on equity of 6.03%. During the same period in the prior year, the company posted $0.11 earnings per share.

A number of research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of The Pennant Group from $17.00 to $20.00 in a research note on Thursday, April 7th. Royal Bank of Canada reduced their target price on shares of The Pennant Group from $37.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, March 10th. Stephens cut their price objective on shares of The Pennant Group from $33.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, March 2nd. Stifel Nicolaus lowered shares of The Pennant Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $32.00 to $18.00 in a research report on Tuesday, March 1st. Finally, Zacks Investment Research upgraded shares of The Pennant Group from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.50.

NASDAQ PNTG traded down $0.45 on Friday, hitting $18.26. The company’s stock had a trading volume of 808 shares, compared to its average volume of 191,102. The Pennant Group has a 1-year low of $11.38 and a 1-year high of $44.23. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average is $16.83 and its 200 day moving average is $18.49. The firm has a market cap of $520.96 million, a PE ratio of 233.88 and a beta of 2.41.

In other news, Director Christopher R. Christensen bought 2,668 shares of the stock in a transaction dated Monday, April 18th. The stock was purchased at an average cost of $16.50 per share, for a total transaction of $44,022.00. Following the transaction, the director now owns 581,133 shares of the company’s stock, valued at $9,588,694.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher R. Christensen purchased 21,603 shares of the stock in a transaction that occurred on Wednesday, April 13th. The stock was bought at an average price of $16.50 per share, with a total value of $356,449.50. Following the completion of the transaction, the director now owns 572,736 shares of the company’s stock, valued at $9,450,144. The disclosure for this purchase can be found here. 10.30% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PNTG. Advisor Group Holdings Inc. lifted its stake in shares of The Pennant Group by 10.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 4,967 shares of the company’s stock valued at $140,000 after purchasing an additional 451 shares during the last quarter. Comerica Bank raised its holdings in The Pennant Group by 2.5% during the third quarter. Comerica Bank now owns 24,415 shares of the company’s stock worth $580,000 after purchasing an additional 585 shares during the last quarter. California State Teachers Retirement System increased its position in The Pennant Group by 1.7% during the third quarter. California State Teachers Retirement System now owns 35,892 shares of the company’s stock worth $1,008,000 after buying an additional 608 shares in the last quarter. Maryland State Retirement & Pension System grew its position in shares of The Pennant Group by 6.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,685 shares of the company’s stock valued at $247,000 after purchasing an additional 647 shares during the period. Finally, Public Sector Pension Investment Board grew its position in The Pennant Group by 1.2% during the fourth quarter. Public Sector Pension Investment Board now owns 55,104 shares of the company’s stock valued at $1,272,000 after acquiring an additional 660 shares during the period. 88.84% of the stock is owned by hedge funds and other institutional investors.

About The Pennant Group (Get Rating)

The Pennant Group, Inc provides healthcare services in the United States. It operates in two segments, Home Health and Hospice Services, and Senior Living Services. The company offers home health services, including clinical services, such as nursing, speech, occupational and physical therapy, medical social work, and home health aide services; and hospice services comprising clinical care, education, and counseling services for the physical, spiritual, and psychosocial needs of terminally ill patients and their families.

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