Analysts Expect R1 RCM Inc (RCM) Will Post Quarterly Sales of $109.80 Million
Wall Street analysts expect R1 RCM Inc (NYSE:RCM) to announce $109.80 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for R1 RCM’s earnings. The lowest sales estimate is $107.70 million and the highest is $111.90 million. R1 RCM posted sales of $125.54 million in the same quarter last year, which would indicate a negative year over year growth rate of 12.5%. The business is expected to report its next earnings report after the market closes on Tuesday, October 31st.
According to Zacks, analysts expect that R1 RCM will report full year sales of $109.80 million for the current financial year. For the next financial year, analysts forecast that the firm will report sales of $629.30 million per share, with estimates ranging from $595.50 million to $663.10 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow R1 RCM.
R1 RCM (NYSE:RCM) last posted its earnings results on Wednesday, August 2nd. The company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07). The firm had revenue of $99.40 million for the quarter, compared to the consensus estimate of $91.95 million. R1 RCM had a negative return on equity of 51.77% and a negative net margin of 6.74%.
Several equities analysts have weighed in on RCM shares. Zacks Investment Research raised shares of R1 RCM from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Thursday, July 6th. Robert W. Baird reiterated a “hold” rating and set a $5.00 price objective on shares of R1 RCM in a research report on Thursday, August 24th.
Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in shares of R1 RCM during the second quarter valued at approximately $666,000. The Manufacturers Life Insurance Company raised its position in shares of R1 RCM by 2,721.7% during the second quarter. The Manufacturers Life Insurance Company now owns 80,645 shares of the company’s stock valued at $303,000 after buying an additional 77,787 shares during the last quarter. State Street Corp bought a new stake in shares of R1 RCM during the second quarter valued at approximately $5,327,000. Voya Investment Management LLC bought a new stake in shares of R1 RCM during the second quarter valued at approximately $170,000. Finally, Virtu KCG Holdings LLC raised its position in shares of R1 RCM by 291.3% during the second quarter. Virtu KCG Holdings LLC now owns 56,000 shares of the company’s stock valued at $210,000 after buying an additional 41,690 shares during the last quarter.
R1 RCM (NYSE RCM) traded up 1.94% during mid-day trading on Friday, reaching $3.68. 151,373 shares of the company were exchanged. R1 RCM has a one year low of $2.02 and a one year high of $4.37. The stock has a 50 day moving average of $3.50 and a 200-day moving average of $3.54. The stock’s market capitalization is $386.00 million.
R1 RCM Company Profile
R1 RCM Inc, formerly Accretive Health, Inc, is a provider of revenue cycle management (RCM) and physician advisory services (PAS) to healthcare providers. The Company is engaged in providing management services of revenue cycle operations for the United States-based hospitals and other medical services providers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for R1 RCM Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for R1 RCM Inc and related companies with MarketBeat.com's FREE daily email newsletter.