PACS Group (NYSE:PACS) Issues Quarterly Earnings Results, Misses Estimates By $0.42 EPS

PACS Group (NYSE:PACS) announced its earnings results on Monday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.42), Briefing.com reports. The business had revenue of $981.80 million during the quarter, compared to analyst estimates of $919.22 million. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. PACS Group updated its FY 2024 guidance to EPS.

PACS Group Price Performance

PACS stock traded down $0.09 during trading on Wednesday, reaching $38.34. The company had a trading volume of 78,546 shares, compared to its average volume of 469,077. PACS Group has a 52 week low of $22.61 and a 52 week high of $39.00. The business’s 50 day moving average price is $31.59. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.56 and a quick ratio of 1.56.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of PACS Group in a research report on Monday, May 6th. They issued an “overweight” rating and a $27.00 target price for the company. Oppenheimer raised their price objective on PACS Group from $32.00 to $40.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup upped their target price on PACS Group from $34.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial lifted their price target on shares of PACS Group from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Macquarie assumed coverage on shares of PACS Group in a report on Friday, June 28th. They set an “outperform” rating and a $35.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $35.86.

PACS Group Company Profile

PACS Group, Inc, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. The company also provides senior care and independent facilities. It engages in the acquisition, ownership, and leasing of health care-related properties. The company was founded in 2013 and is based in Farmington, Utah.