Gentiva Health Services Receives “Outperform” Rating from Zacks (GTIV)
Gentiva Health Services (NASDAQ:GTIV)‘s stock had its “outperform” rating reiterated by Zacks in a report issued on Wednesday. They currently have a $22.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 19.24% from the company’s current price.
Zacks’ analyst wrote, “Gentiva’s second quarter earnings surpassed the Zacks Consensus Estimate driven by higher revenues, strategic investments and the success of One Gentiva initiative. Higher revenues from Community Care and home health episodic revenues buoyed the top line. Strong cash position and year-to-date results also prompted management to tighten its 2014 earnings guidance. However, the proposed CMS rules are expected to weigh on financials partially. Nevertheless, Gentiva’s focus on divesting non-core businesses should enhance core operations. Also, the rejection of the Kindred bid may provoke the adoption of a more aggressive financial policy. The focus on specialty services and efforts to boost financial flexibility through amendment of credit facility bode well for long-term growth too. We maintain our Outperform recommendation on the stock.”
Shares of Gentiva Health Services (NASDAQ:GTIV) traded up 1.21% during mid-day trading on Wednesday, hitting $18.45. 409,093 shares of the company’s stock traded hands. Gentiva Health Services has a 52-week low of $7.35 and a 52-week high of $18.50. The stock’s 50-day moving average is $16.43 and its 200-day moving average is $11.93. The company’s market cap is $679.7 million.
Gentiva Health Services (NASDAQ:GTIV) last released its earnings data on Tuesday, August 5th. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.04. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $492.31 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Analysts expect that Gentiva Health Services will post $0.93 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated an “underperform” rating on shares of Gentiva Health Services in a research note on Wednesday. They now have a $18.00 price target on the stock, up previously from $14.00. Separately, analysts at Piper Jaffray raised their price target on shares of Gentiva Health Services from $14.00 to $17.25 in a research note on Wednesday. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Gentiva Health Services in a research note on Friday, July 18th. They now have a $17.25 price target on the stock, up previously from $14.50. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $17.42.
Gentiva Health Services, Inc (NASDAQ:GTIV) is engaged in providing home health services and hospice services.
To view Zacks’ full report, visit Zacks’ official website.
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