$387.63 Million in Sales Expected for Civitas Solutions, Inc. (CIVI) This Quarter
Analysts forecast that Civitas Solutions, Inc. (NYSE:CIVI) will report sales of $387.63 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Civitas Solutions’ earnings. The lowest sales estimate is $386.90 million and the highest is $388.36 million. Civitas Solutions reported sales of $362.19 million in the same quarter last year, which indicates a positive year over year growth rate of 7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, December 13th.
On average, analysts expect that Civitas Solutions will report full-year sales of $387.63 million for the current financial year. For the next fiscal year, analysts expect that the company will report sales of $1.57 billion per share, with estimates ranging from $1.57 billion to $1.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Civitas Solutions.
Civitas Solutions (NYSE:CIVI) last announced its earnings results on Wednesday, August 9th. The company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Civitas Solutions had a net margin of 1.35% and a return on equity of 17.01%. The company had revenue of $377.80 million during the quarter, compared to the consensus estimate of $376.51 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis.
A number of research firms have recently commented on CIVI. BidaskClub cut shares of Civitas Solutions from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Civitas Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.67.
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Civitas Solutions (NYSE CIVI) opened at 18.30 on Thursday. Civitas Solutions has a 52 week low of $15.40 and a 52 week high of $20.98. The company has a market capitalization of $683.72 million, a P/E ratio of 35.19 and a beta of 0.41. The firm has a 50 day moving average of $18.68 and a 200-day moving average of $17.85.
In related news, CFO Denis M. Holler sold 4,600 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $19.63, for a total value of $90,298.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Denis M. Holler sold 6,429 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $19.13, for a total transaction of $122,986.77. Following the completion of the transaction, the chief financial officer now owns 311,078 shares of the company’s stock, valued at approximately $5,950,922.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,983 shares of company stock valued at $705,774. 5.30% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in Civitas Solutions by 1.1% in the 2nd quarter. FMR LLC now owns 5,596,978 shares of the company’s stock valued at $97,947,000 after buying an additional 61,501 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Civitas Solutions by 55.8% in the 1st quarter. Nuveen Asset Management LLC now owns 741,979 shares of the company’s stock valued at $13,615,000 after buying an additional 265,884 shares during the last quarter. Vanguard Group Inc. raised its holdings in Civitas Solutions by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 719,953 shares of the company’s stock valued at $12,600,000 after buying an additional 7,218 shares during the last quarter. State Street Corp raised its holdings in Civitas Solutions by 14.3% in the 2nd quarter. State Street Corp now owns 270,368 shares of the company’s stock valued at $4,738,000 after buying an additional 33,779 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Civitas Solutions by 19.2% in the 2nd quarter. Northern Trust Corp now owns 243,499 shares of the company’s stock valued at $4,261,000 after buying an additional 39,301 shares during the last quarter. Institutional investors and hedge funds own 93.97% of the company’s stock.
Civitas Solutions Company Profile
Civitas Solutions, Inc is a provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The Company operates through two segments: Human Services and Post-Acute Specialty Rehabilitation Services (SRS).
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