Wall Street analysts forecast that Molina Healthcare Inc (NYSE:MOH) will post earnings per share of $0.30 for the current quarter, Zacks reports. Six analysts have made estimates for Molina Healthcare’s earnings, with the highest EPS estimate coming in at $0.64 and the lowest estimate coming in at ($0.07). Molina Healthcare posted earnings of $0.85 per share during the same quarter last year, which suggests a negative year over year growth rate of 64.7%. The firm is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Molina Healthcare will report full year earnings of ($1.93) per share for the current year, with EPS estimates ranging from ($3.52) to $0.00. For the next fiscal year, analysts forecast that the firm will post earnings of $3.02 per share, with EPS estimates ranging from $2.00 to $4.30. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Molina Healthcare.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by $0.87. Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. Molina Healthcare’s quarterly revenue was up 14.7% compared to the same quarter last year.
Several brokerages recently weighed in on MOH. Deutsche Bank AG reaffirmed a “hold” rating and issued a $72.00 target price on shares of Molina Healthcare in a report on Wednesday, August 9th. TheStreet cut shares of Molina Healthcare from a “b” rating to a “c” rating in a report on Monday, August 7th. BidaskClub cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley raised shares of Molina Healthcare from an “underweight” rating to an “overweight” rating and raised their target price for the company from $65.00 to $68.00 in a report on Thursday, August 17th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Molina Healthcare in a report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $62.39.
In other news, Director J Mario Md Molina sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $66.09, for a total transaction of $991,350.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Molina sold 25,295 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $59.33, for a total transaction of $1,500,752.35. Following the transaction, the director now owns 585,859 shares in the company, valued at $34,759,014.47. The disclosure for this sale can be found here. Insiders sold 246,486 shares of company stock worth $16,056,799 over the last quarter. 6.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in MOH. Vanguard Group Inc. raised its position in shares of Molina Healthcare by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,619,435 shares of the company’s stock worth $250,392,000 after buying an additional 66,206 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Molina Healthcare by 12.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,488,977 shares of the company’s stock worth $113,498,000 after buying an additional 282,144 shares during the period. Alliancebernstein L.P. raised its position in shares of Molina Healthcare by 1.7% in the first quarter. Alliancebernstein L.P. now owns 1,908,612 shares of the company’s stock worth $87,033,000 after buying an additional 31,548 shares during the period. Victory Capital Management Inc. raised its position in shares of Molina Healthcare by 20.0% in the first quarter. Victory Capital Management Inc. now owns 1,583,018 shares of the company’s stock worth $72,186,000 after buying an additional 263,892 shares during the period. Finally, Tiedemann Wealth Management LLC raised its position in shares of Molina Healthcare by 3.1% in the first quarter. Tiedemann Wealth Management LLC now owns 1,408,414 shares of the company’s stock worth $64,224,000 after buying an additional 42,301 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.
Shares of Molina Healthcare (MOH) traded down 0.05% during trading on Friday, hitting $60.51. 846,379 shares of the company traded hands. Molina Healthcare has a 52 week low of $42.56 and a 52 week high of $72.79. The company’s market capitalization is $3.46 billion. The company has a 50 day moving average price of $65.39 and a 200 day moving average price of $59.04.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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