Envision Healthcare Corporation (EVHC) Issues Quarterly Earnings Results
Envision Healthcare Corporation (NYSE:EVHC) released its earnings results on Tuesday. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.08), Bloomberg Earnings reports. Envision Healthcare Corporation had a positive return on equity of 5.35% and a negative net margin of 7.35%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. The firm’s revenue for the quarter was up 142.0% on a year-over-year basis. Envision Healthcare Corporation updated its Q4 guidance to $0.44-$0.54 EPS.
Envision Healthcare Corporation (NYSE EVHC) traded down 36.17% during mid-day trading on Wednesday, reaching $27.19. The company had a trading volume of 15,341,080 shares. The firm’s market capitalization is $3.18 billion. Envision Healthcare Corporation has a 12-month low of $26.92 and a 12-month high of $74.75. The firm has a 50-day moving average price of $44.16 and a 200 day moving average price of $53.20.
Several research firms have weighed in on EVHC. Cantor Fitzgerald cut Envision Healthcare Corporation from an “overweight” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Wednesday. Jefferies Group LLC set a $71.00 target price on Envision Healthcare Corporation and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Envision Healthcare Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Mizuho cut their target price on Envision Healthcare Corporation from $65.00 to $57.00 and set a “neutral” rating for the company in a research note on Wednesday, August 9th. Finally, BidaskClub cut Envision Healthcare Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.45.
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Envision Healthcare Corporation announced that its board has authorized a share buyback plan on Monday, September 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
About Envision Healthcare Corporation
Envision Healthcare Holdings, Inc, formerly CDRT Holding Corporation, is a holding company. The Company, through its subsidiary, provides physician-led medical services in the United States. It operates in two segments: EmCare Holdings, Inc (EmCare) and American Medical Response, Inc (AMR). Its EmCare segment is a provider of integrated facility-based and post-acute care physician services to healthcare facilities in the United States.
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