-$0.29 Earnings Per Share Expected for Benefitfocus, Inc. (BNFT) This Quarter
Wall Street brokerages predict that Benefitfocus, Inc. (NASDAQ:BNFT) will report earnings of ($0.29) per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Benefitfocus’ earnings. The highest EPS estimate is ($0.28) and the lowest is ($0.29). Benefitfocus reported earnings of ($0.37) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 21.6%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Benefitfocus will report full year earnings of ($0.93) per share for the current financial year, with EPS estimates ranging from ($0.97) to ($0.90). For the next financial year, analysts expect that the firm will post earnings of ($0.49) per share, with EPS estimates ranging from ($0.62) to ($0.23). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last released its quarterly earnings results on Thursday, April 27th. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.02. The firm had revenue of $64.10 million for the quarter, compared to the consensus estimate of $62.94 million. During the same quarter in the previous year, the business posted ($0.29) EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year.
Several analysts have weighed in on BNFT shares. Chardan Capital boosted their price objective on Benefitfocus from $31.00 to $36.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded Benefitfocus from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, June 28th. Finally, William Blair upgraded Benefitfocus from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Benefitfocus currently has an average rating of “Buy” and a consensus price target of $39.00.
Several institutional investors have recently made changes to their positions in the stock. Aperio Group LLC acquired a new position in shares of Benefitfocus during the second quarter worth approximately $222,000. Credit Suisse AG increased its position in shares of Benefitfocus by 4,598.7% in the first quarter. Credit Suisse AG now owns 623,144 shares of the software maker’s stock worth $17,416,000 after buying an additional 609,882 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its position in shares of Benefitfocus by 180.2% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 71,530 shares of the software maker’s stock worth $1,999,000 after buying an additional 46,000 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Benefitfocus by 6.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 61,196 shares of the software maker’s stock worth $1,711,000 after buying an additional 3,744 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Benefitfocus during the first quarter worth approximately $4,995,000. Institutional investors own 83.46% of the company’s stock.
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Benefitfocus (BNFT) traded down 2.12% on Friday, reaching $34.70. 169,806 shares of the company’s stock traded hands. The firm’s 50-day moving average is $35.79 and its 200 day moving average is $30.82. Benefitfocus has a 12 month low of $24.55 and a 12 month high of $44.98. The firm’s market cap is $1.08 billion.
Benefitfocus Company Profile
Benefitfocus, Inc (Benefitfocus) is a provider of cloud-based benefits management platform for consumers, employers, insurance carriers and brokers. The Benefitfocus Platform allows how organizations and individuals shop for, enroll in, manage and exchange benefits. The Company operates through two business segments: Employer, which derives its revenue from customers that use the Company’s services for the provision of benefits to their employees, and administrators acting on behalf of employers, Carrier, which derives its revenue from insurance companies that provide coverage at their own risk.
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