Oppenheimer Reiterates “Outperform” Rating for Ensign Group (ENSG)
Ensign Group (NASDAQ:ENSG)‘s stock had its “outperform” rating reaffirmed by analysts at Oppenheimer in a research report issued to clients and investors on Thursday, Analyst Ratings.Net reports. They currently have a $46.00 price objective on the stock, up from their previous price objective of $44.00. Oppenheimer’s price objective indicates a potential upside of 15.00% from the stock’s previous close.
The analysts wrote, “Following meetings with mgmt, we believe ENSG remains well-positioned to outperform its struggling peers. ENSG boasts a tremendous amount of organic upside opportunity as it improves operations at its young and underperforming assets. In fact, we estimate that, if ENSG were to move the metrics at its recently acquired/transitioning facilities to same-store rates, EPS could rise by $1.34, or nearly 50% of its annual runrate. Furthermore, ENSG should continue its strong acquisition pace, as its balance sheet remains clean. As a result of the bullish outlook, we are raising our price target to $46 from $44, and would continue to be buyers of ENSG.”
Ensign Group (NASDAQ:ENSG) traded down 0.40% on Thursday, hitting $39.839. The stock had a trading volume of 17,822 shares. Ensign Group has a one year low of $24.97 and a one year high of $40.28. The stock’s 50-day moving average is $38.67 and its 200-day moving average is $35.74. The company has a market cap of $873.8 million and a P/E ratio of 57.31.
Ensign Group (NASDAQ:ENSG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by $0.07. The company had revenue of $220.09 million for the quarter, compared to the consensus estimate of $227.70 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Ensign Group will post $2.69 EPS for the current fiscal year.
Separately, analysts at Cantor Fitzgerald raised their price target on shares of Ensign Group (NASDAQ:ENSG) from $40.00 to $45.00 in a research note to investors on Tuesday, August 13th. They now have a “buy” rating on the stock.
Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $41.75.
The Ensign Group, Inc, is a holding company. The Company is a provider of skilled nursing and rehabilitative care services through the operation of 103 facilities, five home health and three hospice operations located in Arizona, California, Colorado, Idaho, Iowa, Nebraska, Nevada, Oregon, Texas, Utah and Washington.
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