Benefitfocus, Inc. (BNFT) Expected to Post Earnings of -$0.13 Per Share
Wall Street brokerages expect Benefitfocus, Inc. (NASDAQ:BNFT) to announce earnings per share of ($0.13) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Benefitfocus’ earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($0.15). Benefitfocus posted earnings per share of ($0.14) in the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Benefitfocus will report full-year earnings of ($0.30) per share for the current fiscal year, with EPS estimates ranging from ($0.37) to ($0.19). For the next financial year, analysts expect that the business will post earnings of $0.04 per share, with EPS estimates ranging from ($0.13) to $0.32. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Benefitfocus.
Benefitfocus (NASDAQ:BNFT) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $63.30 million during the quarter, compared to analyst estimates of $62.07 million. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS.
Several research firms have issued reports on BNFT. Zacks Investment Research lowered shares of Benefitfocus from a “buy” rating to a “hold” rating in a research report on Wednesday. Berenberg Bank restated a “buy” rating and issued a $36.00 price target on shares of Benefitfocus in a research report on Thursday, August 10th. Piper Jaffray Companies restated a “buy” rating and issued a $43.00 price target on shares of Benefitfocus in a research report on Friday, August 4th. Raymond James Financial, Inc. raised their price objective on shares of Benefitfocus from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Finally, Chardan Capital downgraded shares of Benefitfocus from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $36.00 to $30.00 in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.78.
Shares of Benefitfocus (NASDAQ:BNFT) traded down 0.70% during midday trading on Thursday, hitting $32.00. 32,597 shares of the stock were exchanged. Benefitfocus has a 12-month low of $24.55 and a 12-month high of $42.49. The firm’s market cap is $997.73 million. The stock’s 50 day moving average is $30.75 and its 200 day moving average is $31.69.
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A number of hedge funds have recently made changes to their positions in BNFT. Citadel Advisors LLC raised its stake in shares of Benefitfocus by 228.5% in the first quarter. Citadel Advisors LLC now owns 407,928 shares of the software maker’s stock worth $11,401,000 after acquiring an additional 283,755 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Benefitfocus by 27.5% in the first quarter. Wells Fargo & Company MN now owns 227,589 shares of the software maker’s stock worth $6,361,000 after acquiring an additional 49,073 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Benefitfocus in the second quarter worth about $1,109,000. Great Lakes Advisors LLC bought a new position in shares of Benefitfocus in the second quarter worth about $2,477,000. Finally, Credit Suisse AG raised its stake 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 acquiring an additional 609,882 shares during the last quarter. 84.63% of the stock is owned by hedge funds and other institutional investors.
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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