Wall Street brokerages expect Civitas Solutions Inc (NYSE:CIVI) to announce $397.91 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Civitas Solutions’ earnings, with the lowest sales estimate coming in at $396.21 million and the highest estimate coming in at $399.60 million. Civitas Solutions reported sales of $362.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.8%. The firm is expected to issue its next earnings report on Wednesday, May 9th.
On average, analysts expect that Civitas Solutions will report full-year sales of $397.91 million for the current financial year, with estimates ranging from $1.59 billion to $1.61 billion. For the next financial year, analysts forecast that the company will post sales of $1.68 billion per share, with estimates ranging from $1.68 billion to $1.69 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Civitas Solutions.
Civitas Solutions (NYSE:CIVI) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.17. The company had revenue of $395.42 million for the quarter, compared to analyst estimates of $390.05 million. Civitas Solutions had a net margin of 0.76% and a return on equity of 19.77%.
In other Civitas Solutions news, CFO Denis M. Holler sold 12,238 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $19.75, for a total value of $241,700.50. Following the completion of the transaction, the chief financial officer now directly owns 277,502 shares of the company’s stock, valued at $5,480,664.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.76% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CIVI. Alliancebernstein L.P. raised its stake in shares of Civitas Solutions by 7.8% in the second quarter. Alliancebernstein L.P. now owns 18,050 shares of the company’s stock worth $316,000 after acquiring an additional 1,300 shares during the last quarter. Teachers Advisors LLC grew its position in shares of Civitas Solutions by 6.0% during the 2nd quarter. Teachers Advisors LLC now owns 26,145 shares of the company’s stock worth $458,000 after buying an additional 1,473 shares during the period. Northern Trust Corp grew its position in shares of Civitas Solutions by 19.2% during the 2nd quarter. Northern Trust Corp now owns 243,499 shares of the company’s stock worth $4,261,000 after buying an additional 39,301 shares during the period. Vanguard Group Inc. grew its position in shares of Civitas Solutions by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 719,953 shares of the company’s stock worth $12,600,000 after buying an additional 7,218 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Civitas Solutions during the 2nd quarter worth approximately $211,000. 94.61% of the stock is owned by institutional investors.
Civitas Solutions (CIVI) traded up $0.07 during midday trading on Friday, reaching $14.52. 148,193 shares of the company’s stock traded hands, compared to its average volume of 178,134. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.99. The firm has a market cap of $542.55, a price-to-earnings ratio of 111.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.76. Civitas Solutions has a 52 week low of $11.15 and a 52 week high of $19.90.
Civitas Solutions declared that its Board of Directors has authorized a share buyback program on Thursday, February 8th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
About Civitas Solutions
Civitas Solutions, Inc is a provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS).
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