cross country healthcare news

Sure. Sie knnen Ihre Einstellungen jederzeit ndern. With the significant cash flows we generated, we not only reduced the overall indebtedness for the company by $76 million, but we funded the acquisitions I mentioned a moment ago, repurchased more than one million shares of our stock at an average price of $24, as well as paid the first earn-out payment on our acquisition of WSG for having achieved the targeted results. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.50. Also assumed in this guidance is an interest expense of $3.2 million, depreciation and amortization of $3.4 million, stock-based compensation of $2.1 million and an effective tax rate of 29%. I'll go into more detail on the capital allocation in just a moment. Hi Kevin, thank you for the first question. Billable days were up 8% over the prior year and 6% sequentially with growth across a wide range of specialties. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $35.20. Yes, sure. On November 9, 2022, the Company issued a press release, a copy of which is Dies geschieht in Ihren Datenschutzeinstellungen. Yes, I would just say -- as we said, we're going to keep increasing our diversification. Point72 Hong Kong Ltd purchased a new stake in Cross Country Healthcare in the 1st quarter valued at $35,000. Cross Country Healthcare to Attend the Credit Suisse 31st Annual The sequential decline in adjusted EBITDA margin is primarily due to the impact of lower average bill rates in travel as well as continued investments in our technology initiatives and in our workforce. Also, CEO John Anthony Martins acquired 4,000 shares of the companys stock in a transaction on Wednesday, August 24th. Want the latest recommendations from Zacks Investment Research? those contained in the company's 2021 annual report on Form 10-K and quarterly reports on Form 10-Q, as well as in other filings with the SEC. And so far the reception on that process, if you will, is really high both from existing customers and prospective customers. If we look at all the different studies out there over the last year or two, in the next 10 years, it's going to be a 1 million nurse shortage. boca raton, fla., aug. 8, 2017 /prnewswire/ -- cross country healthcare, inc. (nasdaq: ccrn) today announced it has added recruitment process outsourcing (rpo) for nursing and allied health. This means that Cross Country Healthcare is outperforming the sector as a whole this year. Cross Country Healthcare, Inc. (NASDAQ: CCRN), a national leader in providing total talent management, is proud to announce that president and CEO Kevin C. Clark, and executive vice president of operations, Stephen A. Saville, have been named to the 2020 Staffing 100 - Staffing Industry Analysts' list of the most notable leaders in the industry. Kevin, this is Bill. I'll start and then have Bill add some more color. Q4 is shaping up to be our best quarter ever. As we announced at August, our Board authorized an additional $100 million repurchase program and we quickly put that to work. Act of 1933, as amended, or the Exchange Act, regardless of the general Another Business Services stock, which has outperformed the sector so far this year, is CRA International (CRAI). I'll now turn it back over to John Martins for closing remarks. Cross Country Healthcare, Inc. (the "Company") (NASDAQ:CCRN) today announced financial results for its third quarter ended September 30, 2022. Launched in 2019, Cross Country Search is a healthcare recruitment company comprised of four strong recruitment search businesses within the Cross Country family of brands: This consolidation leverages the strength of each brand allowing Cross Country Search to utilize a massive talent network of over 6,000,000 healthcare professionals . Q2 2023 EPS Estimates for Cross Country Healthcare, Inc. (NASDAQ:CCRN Licensed Practical Nurse - LPN Corrections Nursing Requirements: 13-Week Contract 1 year of Corrections LPN experiece 12 hour . Cross Country Healthcare, Inc. (CCH) is a leading tech-enabled workforce solutions and advisory firm with 36 years of industry experience and insight. Our success is rooted in the dedication of our employees and their commitment to maintaining a vibrant workplace culture that stresses the importance of diversity, equity and inclusion. The disclosure for this purchase can be found here. Press Releases | Cross Country Healthcare, Inc. The average estimate of five analysts surveyed by Zacks . Cross Country Healthcare has a 1-year low of $15.26 and a 1-year high of $38.47. Cross Country Healthcare (CCRN) Tops Q3 EPS by 13c The company does not intend to update guidance or any of its forward-looking statements prior to the next earnings release. Our adjusted EBITDA guidance implies a margin of 9% in line with our goal to maintain adjusted EBITDA margins in the high single to low double-digits. About Us | Cross Country Search Finally, Truist Financial lowered shares of Cross Country Healthcare from a buy rating to a hold rating and set a $36.00 price objective on the stock. What -- any interesting aspects to that discussion, ways they're leaning on you that may be different than history to try to figure out ways to address the current environment in which they find themselves? How did the volume of travelers in 3Q, which looks like it's down about 7% quarter-over-quarter compared to your expectations when you gave guidance for the third quarter? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Yes, Tobey, this is John. And looking into 2023, we will likely see that rates a little bit higher than we anticipated last quarter. Cross Country Healthcare and CRA International could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks. Hey Tobey, this is Bill. A.J., it's John. On the strength of our performance, we continue to not only invest in growth through capacity and technology as well as acquisitions such as Mint and Lotus, who we are also able to deploy capital in a more meaningful way through paying down expensive debt and repurchasing our shares of common stock. Is Cross Country Healthcare (CCRN) Outperforming Other Business I think you guys may have been the ones that had said earlier in the year that maybe in the early part of the summer, the rates had gotten to a level where some travel nurses were saying, hey, at that level, I'm just going to go back into my permanent job, is that -- how much of a constraint is that on seeing declining rates the fact that it hasn't declined? Barrington Research Increases Cross Country Healthcare (NASDAQ:CCRN And what kind of strategies do you have in mind to sort of cost some of that gross margin back? I've called this out before, but it's worth repeating. Cross Country Healthcare to Attend the 4th Annual Truist Securities Cross Country Healthcare, Inc. (NASDAQ:CCRN) Shares Bought by Victory Cross Country Healthcare Closes Acquisitions of Mint Medical Physician Looking ahead, revenue is expected to decline by 16% p.a. This concludes our prepared remarks, and we would now like to open the lines for questions. And -- but we've seen good production and across the weeks throughout the tail end of the third quarter as we're going into the fourth quarter, I think it was really just a step down from the crisis needs from the COVID pandemic, I don't think it was anything more significant than that. Is Cross Country Healthcare (CCRN) one of those stocks right now? About Cross Country Healthcare Cross Country Healthcare, Inc. (CCH) is a leading tech-enabled workforce solutions and advisory firm with 36 years of industry experience and insight. We solve. The company has a market capitalization of $1.44 billion, a P/E ratio of 6.59, a P/E/G ratio of 0.79. I do think that there is room for let's call it somewhere in that 100 basis point improvement over the next 12 months. The potential pullback in some demand for contingent labor although again not seeing that today. And I think really what's going to propel us to drive gross margins even faster is our movement and entry into the vendor-neutral space with Intellify. incorporated by reference into the filings of the Company under the Securities But what we're looking at is for the foreseeable future there is going to be this incredible CASM of the supply-demand imbalance that's just not going to go away. Working at Cross Country Healthcare | Glassdoor Cross Country Healthcare, Inc. (Nasdaq: CCRN) is a market-leading, tech-enabled workforce solutions platform and advisory firm with 36 years of industry experience and insight. If I go back to when we first gave our guidance, it was down just a little bit more significantly, but as we look across where that came from, it was the wind down of higher bill rate assignments. Gross margin of 22.6% was flat sequentially, but up 20 basis points over the prior year as we continue to see a decline in COVID-related crisis orders and a normalization in bill pay spreads across our travel business. Cross Country Healthcare, Inc. (Nasdaq: CCRN) is a market-leading, tech-enabled workforce solutions platform and advisory firm with 36 years of industry experience and insight. As a percent of revenue, our SG&A was 12.6%, down nearly 150 basis points over the prior year, on the improved operating leverage stemming from the growth in our business, as well as greater productivity from our revenue producers. That I think what Bill said is, the geographical and the regional rates have changed. At the conclusion of the prepared remarks, I will open the lines for questions. 99.1, is being furnished and shall not be deemed to be "filed" for purposes of For the third quarter, Cross Country's capture rate on the $2 billion spend was 71%, which was up 200 basis points over Q2. The Zacks Consensus Estimate for CCRN's full-year earnings has moved 7.5% higher within the past quarter. Cross Country Healthcare, Inc. (CCRN) stock is trading at $33.30 as of 3:12 PM on Monday, Nov 7, a rise of $0.80, or 2.47% from the previous closing price of $32.50. But for us, it's working with hospitals to say how can we upskill clinicians to get to acute care. Cross Country Healthcare Launches the New CrossCountry.com I think today, and remember intentionally we've opted to give the majority of the compensation through to the nurse. On average, this group has lost an average of 20.6% so far this year, meaning that CCRN is performing better in terms of year-to-date returns. But -- so to John's point, there is some potential upside there, I remind you, the other lines of business are growing well, we're seeing phenomenal growth in our homecare, out of our education, our search businesses. During the quarter, we recognized $2.5 million in restructuring charges and $3.8 million of asset impairments, primarily related to the closure of additional office space during the quarter. Fr nhere Informationen zur Nutzung Ihrer Daten lesen Sie bitte unsere Datenschutzerklrung und Cookie-Richtlinie. Thanks. Our next question comes from Brian Tanquilut with Jefferies. Recent Change of -11.64% in the Cross Country Healthcare Inc. (CCRN As an organization, we continue to execute well across so many fronts from sales to delivery and across our technology initiatives. Volume today is 744,196 compared to average volume of 926,398. Home | Your Journey Begins Here | Cross Country Healthcare Allied Healthcare Staffing | Cross Country Healthcare In this instance, I've used the price-to-earnings (PE) ratio given that there is not enough information to reliably forecast the stock's cash flows. And then, maybe just looking at the other side of the coin, we're reading so much about hospitals, facing downgrades, swinging to operating losses. We solve complex. On a year-over-year basis, excuse me, average revenue per day filled increased across virtually all specialties as needs continue to rise. And A.J., this is Bill. Our next question comes from Tobey Sommer with Truist Securities. I'd say that in the third quarter, even if I look at the labor disruption rates that we saw, they were not like remarkably different than what we're seeing in the broader marketplace. The Cross Country Story | Cross Country Healthcare Now, even with pediatric, we're seeing pockets of areas that get hit with the triple threat. Their traditional staffing includes temporary and permanent placement of travel nurses and allied professionals, branch-based local nurses and allied staffing, and locum tenens physicians. Posted by MarketBeat News on Nov 10th, 2022. Our local business was up 9% from the prior year, though down 14% sequentially, with the sequential drivers fairly evenly split between rates and volume. the SEC website this link here. For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. We've seen it in the low 2020s kind of range for our gross margin across travel. The average cost of shares repurchased was $24, and we have $87 million remaining under the new program. Our first question comes from Kevin Fischbeck with Bank of America. Benefits | Cross Country Medical Staffing Network Cross Country Healthcare to Attend the Credit Suisse 31st Annual See you then. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.76 and a beta of 0.90. With an entrepreneurial spirit leading the way and . Moving down the income statement, total selling general and administrative expense was $80 million up 52% over the prior year and down 7% sequentially. This is John. Cross Country Healthcare Revenues Beat Expectations, EPS Falls Short. And any challenges in finding staff, any pressure on -- upward pressure on compensation costs, et cetera? Cross Country Healthcare (NASDAQ:CCRN) Shares Down 10.2% To read this article on Zacks.com click here. Earnings Flash (CCRN) CROSS COUNTRY HEALTHCARE Reports Q3 EPS $1.07, vs. Street Est of .. Truist Securities Downgrades Cross Country Healthcare to Hold From Buy; Price Target is.. Barrington Research Raises Price Target for Cross Country Healthcare to $41 From $40, M.. Current Report on Form 8-K, the information in this Item 7.01, including Exhibit Our solid topline performance combined with improved productivity and operational efficiencies fueled another quarter of strong earnings with adjusted EBITDA of nearly $64 million representing a margin of 10%, making it the fourth quarter in a row of delivering double-digit adjusted EBITDA margins. In addition to highlighting our outstanding leadership team, we announced full year 2023 minimum guidance and had the opportunity to share more insight into Cross Country's innovative technology and impact it is having on our business. The stock was sold at an average price of $28. Our unwavering commitment to always act ethically and to deliver best-in-class service has positioned us as an integral partner to the thousands of clients and tens of thousands of clinicians and professionals we serve. So that's why we've not changed the $2.2 billion, but I think as we get through the fourth quarter we'll obviously look to give you a little bit better lens on 2023. Supply constraint continues to be the biggest challenge faced by our clients with clinicians looking to retire early or leave the bedside due to fatigue and burnout. And based on our estimated revenue and gross profit, we're expecting adjusted EBITDA to be between 52 and $57 million, representing an adjusted EBITDA margin of approximately 9%. They noted that the move was a valuation call. Benchmark lifted their price objective on Cross Country Healthcare from $37.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, September 15th. Cross Country Healthcare to At - GuruFocus.com Our solutions leverage our more than 30 years of expertise and insight to assist clients in solving complex labor-related challenges, while maintaining high-quality outcomes. boca raton, fla.-- (business wire)--nov. 30, 2021-- cross country healthcare (cch), a leading provider of advisory and workforce solutions including contingent staffing, permanent placement, and other consultative services for healthcare clients, is proud to announce that two of its executives were included on staffing industry analysts' (sia) And finally, on the income statement, income tax expense was $14 million representing an effective tax rate of 28.5%. And look there is a lot of unknowns as we look at 2023, the potential for further economic disruption. I'd say it was probably a little bit deeper decline than we had anticipated. BOCA RATON, Fla.-- ( BUSINESS WIRE )--As previously announced, Cross Country Healthcare, Inc. (the "Company") (NASDAQ: CCRN), a market-leading tech-enabled workforce solutions platform and . They set a hold rating for the company. But yes, we are still very active in the M&A market. Without a doubt, yes. Before I get started, I'd just like to take a moment to welcome the newest members of the Cross Country family that joined us this past month through our recent acquisitions of Mint and Lotus, two physician staffing companies that we believe not only expands our market presence, but brings us a talented team of professionals to join the ranks of Cross Country Locums and sets the stage for accelerated organic growth. Traditionally, we saw strong demand for speech language pathologists and special ed professionals, but we're also seeing today very strong demand in mainstream teachers and paraprofessionals where we enjoy great margins. Please disable your ad-blocker and refresh. Over the past three months, CRA International's consensus EPS estimate for the current year has increased 9.9%. On a per-share basis, the Boca Raton, Florida-based company said it had profit of 93 cents.Earnings, adjusted for one-time gains and costs, were $1.07 per share.. So the clinicians that we're speaking to they realize there's a lot of jobs out there, hospitals, of course, understand that they need to hire for the core staff.