Maximus, Inc. (MMS) Expected to Post Quarterly Sales of $606.86 Million
Brokerages expect Maximus, Inc. (NYSE:MMS) to post $606.86 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Maximus’ earnings. The highest sales estimate is $615.25 million and the lowest is $601.09 million. Maximus reported sales of $623.09 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%. The company is expected to report its next earnings results on Thursday, November 9th.
According to Zacks, analysts expect that Maximus will report full-year sales of $606.86 million for the current fiscal year, with estimates ranging from $2.43 billion to $2.45 billion. For the next financial year, analysts forecast that the firm will post sales of $2.52 billion per share, with estimates ranging from $2.45 billion to $2.60 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Maximus.
Maximus (NYSE:MMS) last announced its earnings results on Thursday, August 3rd. The health services provider reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.03. Maximus had a net margin of 8.43% and a return on equity of 25.08%. The company had revenue of $600.40 million for the quarter, compared to analyst estimates of $614.12 million. During the same period in the prior year, the business earned $0.79 earnings per share. Maximus’s quarterly revenue was down 2.7% on a year-over-year basis.
Several brokerages recently issued reports on MMS. BidaskClub lowered shares of Maximus from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Canaccord Genuity lowered shares of Maximus from a “buy” rating to a “hold” rating and set a $62.00 price target on the stock. in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of Maximus from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird reaffirmed a “hold” rating and set a $64.00 price target on shares of Maximus in a report on Friday, September 1st. Finally, Maxim Group set a $66.00 price target on shares of Maximus and gave the company a “hold” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Maximus has an average rating of “Hold” and an average price target of $62.43.
Maximus (NYSE MMS) opened at 63.58 on Friday. The stock’s 50 day moving average is $60.72 and its 200-day moving average is $61.45. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 20.38 and a beta of 1.37. Maximus has a 12 month low of $43.69 and a 12 month high of $64.97.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, August 11th. Maximus’s payout ratio is 5.73%.
In other Maximus news, President Bruce Caswell sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $62.21, for a total transaction of $497,680.00. Following the sale, the president now directly owns 35,904 shares of the company’s stock, valued at approximately $2,233,587.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond B. Ruddy sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $62.68, for a total transaction of $1,567,000.00. Following the sale, the director now directly owns 227,552 shares in the company, valued at $14,262,959.36. The disclosure for this sale can be found here. Insiders have sold a total of 125,403 shares of company stock worth $7,645,251 over the last three months. Insiders own 3.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Van Berkom & Associates Inc. grew its holdings in Maximus by 4.5% during the 2nd quarter. Van Berkom & Associates Inc. now owns 1,150,713 shares of the health services provider’s stock worth $72,069,000 after acquiring an additional 49,360 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in Maximus by 50.0% during the 2nd quarter. State of Tennessee Treasury Department now owns 60,000 shares of the health services provider’s stock worth $3,758,000 after acquiring an additional 20,000 shares during the last quarter. American International Group Inc. grew its holdings in Maximus by 4.1% during the 1st quarter. American International Group Inc. now owns 166,652 shares of the health services provider’s stock worth $10,366,000 after acquiring an additional 6,634 shares during the last quarter. Geode Capital Management LLC grew its holdings in Maximus by 6.9% during the 1st quarter. Geode Capital Management LLC now owns 496,870 shares of the health services provider’s stock worth $30,905,000 after acquiring an additional 31,918 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in Maximus by 19.5% during the 1st quarter. OppenheimerFunds Inc. now owns 11,010 shares of the health services provider’s stock worth $685,000 after acquiring an additional 1,793 shares during the last quarter. 97.23% of the stock is currently owned by hedge funds and other institutional investors.
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Maximus Company Profile
MAXIMUS, Inc provides business process services (BPS) to government health and human services agencies. The Company operates through three segments: U.S. Federal Services, Health Services and Human Services. The U.S. Federal Services segment provides BPS and program management for large government programs, independent health review and appeals services for both the United States Federal Government, and state-based programs and technology solutions for civilian federal programs.
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