Brookdale Senior Living (NYSE:BKD) Trading Down 15.9% Following Weak Earnings

Brookdale Senior Living Inc. (NYSE:BKD) fell 15.9% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $5.43 and last traded at $5.43. 711,218 shares traded hands during trading, a decline of 65% from the average session volume of 2,012,469 shares. The stock had previously closed at $6.46.

The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The business had revenue of $784.17 million for the quarter, compared to analysts’ expectations of $785.61 million. Brookdale Senior Living had a negative net margin of 6.75% and a negative return on equity of 51.31%. During the same quarter in the previous year, the business posted ($0.22) earnings per share.

Wall Street Analysts Forecast Growth

BKD has been the topic of a number of recent research reports. Macquarie reissued an “outperform” rating and issued a $8.00 target price on shares of Brookdale Senior Living in a research note on Wednesday, October 9th. Royal Bank of Canada reissued an “outperform” rating and set a $9.00 price objective on shares of Brookdale Senior Living in a research report on Wednesday, October 9th. Jefferies Financial Group began coverage on shares of Brookdale Senior Living in a report on Wednesday, October 16th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Bank of America downgraded Brookdale Senior Living from a “neutral” rating to an “underperform” rating and cut their target price for the company from $7.75 to $6.00 in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookdale Senior Living has a consensus rating of “Hold” and an average target price of $7.75.

Institutional Investors Weigh In On Brookdale Senior Living

A number of hedge funds have recently added to or reduced their stakes in BKD. Quantbot Technologies LP purchased a new stake in shares of Brookdale Senior Living during the 1st quarter valued at about $250,000. SG Americas Securities LLC bought a new position in Brookdale Senior Living in the 1st quarter worth $130,000. Russell Investments Group Ltd. bought a new stake in Brookdale Senior Living during the first quarter valued at about $354,000. ProShare Advisors LLC grew its holdings in Brookdale Senior Living by 8.5% during the first quarter. ProShare Advisors LLC now owns 33,502 shares of the company’s stock valued at $221,000 after purchasing an additional 2,637 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in shares of Brookdale Senior Living by 4.4% in the first quarter. First Eagle Investment Management LLC now owns 1,055,618 shares of the company’s stock worth $6,978,000 after buying an additional 44,900 shares during the period.

Brookdale Senior Living Price Performance

The firm has a 50 day moving average price of $6.42 and a 200 day moving average price of $6.84. The stock has a market cap of $1.10 billion, a P/E ratio of -5.98 and a beta of 1.32. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 11.21.

About Brookdale Senior Living

Brookdale Senior Living Inc owns, manages, and operates senior living communities in the United States. It operates in three segments: Independent Living, Assisted Living and Memory Care, and Continuing Care Retirement Communities (CCRCs). The Independent Living segment owns or leases communities comprising independent and assisted living units in a single community that are primarily designed for middle to upper income seniors.