Hanger Sets New 1-Year Low After Earnings Miss (HGR)
Hanger (NYSE:HGR) reached a new 52-week low during trading on Friday following a dissappointing earnings announcement, American Banking & Market News reports. The stock traded as low as $21.02 and last traded at $21.62, with a volume of 3,545,198 shares trading hands. The stock had previously closed at $29.87.
The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.13. The company had revenue of $275.85 million for the quarter, compared to the consensus estimate of $285.51 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Hanger in a research note on Monday, July 28th. They now have a $32.00 price target on the stock.
The stock has a 50-day moving average of $30.72 and a 200-day moving average of $32.9. The company has a market cap of $760.4 million and a price-to-earnings ratio of 17.59.
Hanger, Inc, formerly Hanger Orthopedic Group, Inc, is a provider of services and products that enhance human physical capabilities.
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