Healthways Rating Lowered to Underperform at Zacks (HWAY)
Healthways (NASDAQ:HWAY) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Monday, Analyst RN reports. They currently have a $14.00 target price on the stock. Zacks‘ target price points to a potential downside of 10.37% from the stock’s previous close.
Zacks‘ analyst wrote, “We have downgraded our recommendation to Underperform from Neutral following the company’s disappointing third-quarter 2013 results, where earnings per share significantly dipped 66.7% to $0.05 from the year-ago level and missed the Zacks Consensus Estimate by $0.06. Revenues of $166.6 million also lagged the Zacks Consensus Estimate of $185 million. As a result, the company lowered its 2013 top and bottom lines guidance. Growth in the U.S. is expected to slow down, and total number of billable lives may stagnate, which will be partly offset by cross-sell opportunities. Also, on the tepid side, Healthways considers itself to be a global well-being company though overseas contract wins have been restricted to just a few countries. Our target is $14.00.”
Healthways (NASDAQ:HWAY) traded up 1.36% during mid-day trading on Monday, hitting $15.62. 349,471 shares of the company’s stock traded hands. Healthways has a one year low of $9.59 and a one year high of $22.20. The stock has a 50-day moving average of $14.47 and a 200-day moving average of $16.1. The company’s market cap is $547.6 million.
Healthways (NASDAQ:HWAY) last posted its quarterly earnings results on Thursday, October 24th. The company reported $0.05 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.13 by $0.08. The company had revenue of $166.60 million for the quarter, compared to the consensus estimate of $185.74 million. During the same quarter last year, the company posted $0.15 earnings per share. Healthways’s revenue was up .0% compared to the same quarter last year. Analysts expect that Healthways will post $-0.07 EPS for the current fiscal year.
A number of other firms have also recently commented on HWAY. Analysts at Stifel Nicolaus cut their price target on shares of Healthways from $19.00 to $17.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Separately, analysts at Dougherty & Co cut their price target on shares of Healthways from $22.00 to $17.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Finally, analysts at Barclays cut their price target on shares of Healthways from $14.00 to $9.00 in a research note to investors on Friday, October 25th. They now have an “underweight” rating on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Healthways currently has a consensus rating of “Hold” and an average target price of $15.17.
Healthways, Inc provides solutions to help people improve physical, emotional and social well-being. The Company provides specific and personalized interventions for each individual in a population, irrespective of health status, age or payor.
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